Protect Your Roofing Business with Workers' Compensation Insurance in Arkansas
Part of our guide to roofers insurance in Arkansas.
A roofer in Fayetteville recently faced a $10,000 medical bill after an employee fell off a roof. Without Workers' Compensation, the owner paid out of pocket. In Arkansas, you need Workers' Compensation if you have 3 or more employees. This coverage pays for medical bills and lost wages when employees are injured on the job. You cannot afford to go without it. Workers' Compensation is not just a cost, but a necessary investment to protect your business and employees.
Workers' Compensation cost for roofers in Arkansas
Illustrative monthly workers comp estimate for a small roofer operation in Arkansas. Actual pricing depends on revenue, payroll, coverage limits, claims history, and carrier. Get a personalized quote to see your real price.
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What Workers' Compensation Covers for Roofers in Arkansas
Workers' Compensation pays for medical bills and lost wages when employees are injured on the job. For example, if an employee falls off a roof in Little Rock, Workers' Compensation covers their medical bills and lost wages. This coverage also pays for rehabilitation and vocational training if the employee is unable to return to their previous job. However, Workers' Compensation does not cover injuries that occur while commuting to or from work, or injuries that are self-inflicted. You must understand what is covered and what is not to ensure you have the right protection for your business. In Arkansas, Workers' Compensation is essential for roofers to protect their employees and their business.
Do Roofers in Arkansas Need Workers' Compensation?
In Arkansas, workers' compensation is generally required once you have 3 or more employees. If you have fewer than 3 employees, you may not be required to carry Workers' Compensation, but it is still a good idea to consider it. Without Workers' Compensation, you may be liable for medical bills and lost wages if an employee is injured on the job. This can be financially devastating for your business. Additionally, many general contractors and commercial property owners require roofing subcontractors to carry Workers' Compensation with limits matching the project scope. You must comply with these requirements to work on their projects. In Arkansas, the risk of severe weather and accidents is high, making Workers' Compensation even more essential for roofers.
A Real Workers' Compensation Claim a Roofer Could Face
A roofer in Springdale had an employee who fell off a roof while installing shingles. The employee suffered a broken leg and was unable to work for several weeks. The medical bills totaled $15,000, and the employee lost $8,000 in wages. Workers' Compensation paid for the medical bills and lost wages, so the owner did not have to pay out of pocket. The owner had a $1,000 deductible, but the insurance company paid the remaining $22,000. Without Workers' Compensation, the owner would have been liable for the entire amount, which could have put their business at risk. In Arkansas, roofers face similar risks every day, and Workers' Compensation is essential to protect their business and employees.
What Workers' Compensation Costs for Roofers in Arkansas
The cost of Workers' Compensation for roofers in Arkansas varies depending on several factors, including revenue, payroll, coverage limits, deductible, and claims history. For example, a roofer with a high revenue and large payroll may pay more for Workers' Compensation than a smaller roofer. Additionally, the cost of Workers' Compensation may be higher in areas with high rates of accidents, such as the tornado corridor in Arkansas. However, the cost of Workers' Compensation is still relatively affordable, with premiums ranging from $50-$190/month. You can lower your premium by implementing safety measures, such as providing training and equipment to your employees, and by shopping around for the best rate.
How to Get Workers' Compensation in Arkansas
To get Workers' Compensation in Arkansas, you need to gather information about your business, including your revenue, payroll, and coverage limits. You should also research different insurance companies and compare their rates and coverage options. It is a good idea to work with an insurance agent who is familiar with the roofing industry and can help you find the best policy for your business. In Little Rock, you can find several insurance agents who specialize in Workers' Compensation for roofers. By bundling Workers' Compensation with your other core policies, such as General Liability and Commercial Auto, you may be able to lower your total premium. Get your quote today and protect your business and employees with Workers' Compensation Insurance.
Frequently asked questions
Will my Workers' Compensation premium jump after one claim?＋
Yes. Your premium may increase after a claim, depending on the severity of the injury and the cost of the claim. However, this increase can be mitigated by implementing safety measures and providing a safe working environment for your employees. You should also review your policy and ensure you have the right coverage limits to avoid paying out of pocket for claims.
Can I get a COI same-day for a client?＋
Yes. Many insurance companies offer same-day COIs for Workers' Compensation. You should contact your insurance agent or company to request a COI and provide the necessary information, such as your business name, address, and policy number. This will ensure you can provide proof of insurance to your clients and comply with their requirements.
Does a sole proprietor need Workers' Compensation?＋
No. Sole proprietors are not required to carry Workers' Compensation in Arkansas, but they may still want to consider it. As a sole proprietor, you are personally liable for any injuries or accidents that occur on the job, and Workers' Compensation can provide essential protection for your business and personal assets. You should weigh the costs and benefits of Workers' Compensation and decide what is best for your business.
What is not covered by Workers' Compensation?＋
Workers' Compensation does not cover injuries that occur while commuting to or from work, or injuries that are self-inflicted. It also does not cover damages for pain and suffering or punitive damages. You should understand what is covered and what is not to ensure you have the right protection for your business and employees. You may want to consider other types of insurance, such as General Liability, to cover these gaps.
Can I cancel my Workers' Compensation policy at any time?＋
Yes. You can cancel your Workers' Compensation policy at any time, but you may be subject to penalties or fees. You should review your policy and understand the terms and conditions before cancelling. It is also essential to ensure you have alternative coverage in place to avoid any gaps in protection for your business and employees.
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Other coverages roofers in Arkansas should know
This article is for general educational purposes and is not insurance or legal advice. Coverage requirements and pricing in Arkansas change over time and vary by business. Verify current rules with the Arkansas Department of Insurance and a licensed agent before purchasing a policy.