There are two types of commercial insurance that are required by Missouri for most businesses. These insurance policies are important for protecting your business against lawsuits and huge medical bills, and they’re important for compliance with the law. If you need commercial insurance, give us a call today at Travers Insurance in Webster Groves, MO.
Workers’ Compensation Insurance Policies
For a wide range of businesses in Missouri, the law mandates that they get workers’ compensation insurance for their employees. The law says that for most industries, any business that has at least five employees has to carry this coverage for them. This is true whether the employees are part-time or full-time. However, the construction industry is an exception. For construction companies, even having just one employee requires getting this insurance. If a contract worker works in your business, the state can consider them to be an employee.
Commercial Auto Insurance Policies
If your business owns a vehicle, it is required by the state that you cover it with commercial auto insurance. This insurance must have a specific minimum amount for a person who becomes injured in an accident that your vehicle caused. There is another minimum amount required for all of the people who become injured in one accident. There is also an amount required for property damage liability. The insurance policy must also have a specific minimum amount for uninsured motorist protection for one injury in an accident and another amount for everyone who was injured.
Most of these required auto insurance coverage types are for liability only- they pay for the other person’s injuries and property damage. If you want your own vehicle covered, you need collision insurance and/or comprehensive insurance.
Get Commercial Insurance Policies
When you own a business, make sure that you have the types of commercial insurance that you need. Give us a call at Travers Insurance in Webster Groves, MO.