The state of Indiana only licenses Plumbing contractors at the state level. All other contractors must check with the local jurisdiction to determine their licensing requirements. Although on plumbers are required to be licensed by the state, all businesses operating in Indiana must be registered with the Indiana Secretary of State.
Indiana requires all businesses operating in the state to carry workers’ compensation insurance which can be purchased from any commercial insurance carrier that is licensed in the state. Contractors should visit the Workers’ Compensation Board of Indiana or contact Fairbanks Insurance Brokers for complete information about workers’ comp in Indiana.
Even if you are not required to be a licensed contractor in Indiana, your business will be exposed to certain risks everyday you’re open for business. Why jeopardize your business when you can affordably transfer your risks to a highly-rated commercial insurance company using Fairbanks Insurance Brokers.
Contractor General Liability Insurance is used as a shield against third party lawsuits caused Bodily Injury and/or Property Damage that are likely to be a result of negligence by you or an employee. These potential legal actions generally arise when the Contractor’s negligence has resulted in Bodily Injury, Property Damage or Personal/Advertising Injury that has happened while a construction operation is ongoing or even several years after the project has been completed.
Your General Liability Coverage will include:
According to the Workers’ Compensation Board of Indiana, all public and private businesses with few exceptions, are required to provide workers' compensation coverage if they have one or more employees. A person hired to perform services for pay is presumed by law to be an employee. This includes all persons elected or appointed to public sector service and all persons appointed or hired by private employers for remuneration. There are limited exemptions to this definition.
Indiana contractors use several types of vehicles and trailers for their business operations and as such, they need commercial auto insurance because this coverage offers higher liability limits, no limit on the number of vehicles on a policy, and no limit to the number of drivers to be insured. Never trust your commercial vehicles to a personal auto policy.
Certainly, many contractors use expensive tools and equipment in the course of performing their jobs. The loss of these tools can be severely detrimental to any contractor and as such, it’s important to transfer the risk of damages or theft to a highly-rated insurance carrier. In most cases, the cost of dependable tool coverage will be less than security cameras, chains, and expense locks.
Although many contractors confuse surety bonds with insurance, a surety bond represents a guarantee to pay that is similar to a line of credit. Most state licensing boards require a surety bond before a license is granted and most large customers and governmental organizations require a bond just to bid on a project. Fairbanks Insurance Brokers can meet your surety needs no matter what the requirement is.
Fairbanks Insurance Brokers is a leader in providing contractors insurance and is dedicated to providing Contractors and Builders the finest insurance protection at the lowest rates throughout the construction community.
With savings up to 65% on General Liability, Workers’ Compensation, Commercial Auto and Bonds, you can count on us to do the heavy lifting and provide you the most competitive quote that includes all the discounts for which you qualify.