Learn more about protecting your business from unexpected costs. This step is recommended but not required.
According to the SBA, business insurance protects you from the unexpected costs of running a business. Accidents, natural disasters, and lawsuits could run you out of business if you’re not protected with the right insurance.
Business insurance is a great way to protect against unforeseen events and catastrophes. It can also limit your personal liability if anything goes wrong with your business. Your level of coverage depends on the type of work you are doing and the requirements of each project.
Visit the Missouri Department of Commerce & Insurance to get started.
If your business engages in contracting work for the City, bonding is an important part of the process. Bonding is like an insurance policy for the City that guarantees that the work that your business does will be completed correctly.
The City has an obligation to taxpayers and citizens to make sure that City funds are spent responsibly and that City infrastructure is properly built, maintained, and safe to use. If your business does construction, facilities maintenance, or other related work, your business will have to provide the City with the bond to ensure your performance.
You will work with a Surety Company, or Bonding Agent, who will provide assurance to the City that your work will be performed correctly or they will step in to rectify any issues.