Protect Your Roofing Business with Workers' Compensation in Missouri
Part of our guide to roofers insurance in Missouri.
Workers' Compensation Insurance for roofers in Missouri pays for medical bills and lost wages when employees are injured on the job, but it does not cover damage to your work vehicles or general liability claims. In Missouri, roofers with 5 or more employees are generally required to have workers' compensation insurance. This coverage is essential for protecting your business from costly claims. With workers' compensation, you can ensure that your employees receive the medical attention they need and that your business is not held liable for their injuries.
Workers' Compensation cost for roofers in Missouri
Illustrative monthly workers comp estimate for a small roofer operation in Missouri. 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 Missouri
Workers' Compensation Insurance for roofers in Missouri covers medical bills and lost wages when employees are injured on the job, such as falls from roofs or ladder accidents. For example, if an employee falls off a roof in Springfield and suffers a broken leg, workers' compensation will cover their medical bills and lost wages. However, it does not cover damage to your work vehicles, which would be covered under a commercial auto policy, or general liability claims, which would be covered under a general liability policy. Workers' compensation also covers occupational diseases, such as asbestos-related illnesses, which can affect roofers who work with asbestos-containing materials.
Do Roofers in Missouri Need Workers' Compensation?
In Missouri, workers' compensation is generally required once you have 5 or more employees. This means that if you have a small roofing business with fewer than 5 employees, you may not be required to have workers' compensation insurance. However, if you have 5 or more employees, you will need to purchase workers' compensation insurance to comply with Missouri law. Going without workers' compensation insurance can result in significant fines and penalties, as well as leaving your business vulnerable to costly claims. For example, if an employee is injured on the job and you do not have workers' compensation insurance, you may be liable for their medical bills and lost wages, which can be financially devastating for your business.
A Real Workers' Compensation Claim a Roofer Could Face
John, the owner of a roofing business in Columbia, had an employee who fell off a roof and suffered a broken arm. The employee required surgery and was unable to work for several months. Workers' compensation insurance covered the employee's medical bills, which totaled $10,000, and lost wages, which totaled $5,000. Without workers' compensation insurance, John would have been liable for these costs, which would have been a significant financial burden for his business. Instead, the workers' compensation insurance policy covered these costs, allowing John to focus on running his business without worrying about the financial impact of the claim.
What Workers' Compensation Costs for Roofers in Missouri
The cost of workers' compensation insurance for roofers in Missouri can vary depending on factors like revenue, payroll, coverage limits, deductible, and claims history. For example, a roofer in St. Louis with a high revenue and payroll may pay more for workers' compensation insurance than a roofer in Kansas City with a lower revenue and payroll. The estimated premium for workers' compensation insurance in Missouri is $55-$215 per month. To lower their premium, roofers can implement safety measures, such as providing regular training and ensuring that employees wear proper safety equipment, which can reduce the risk of claims and lower their premium.
How to Get Workers' Compensation in Missouri
To get workers' compensation insurance in Missouri, you will need to gather information about your business, such as your revenue, payroll, and coverage limits. You can then compare quotes from different insurance providers to find the best rate for your business. It's also a good idea to work with an insurance agent who is familiar with the Missouri market and can help you navigate the process. In Kansas City, for example, you may be able to find an insurance agent who specializes in workers' compensation insurance for roofers. By bundling workers' compensation with your other core policies, you may be able to lower your total premium. Get a quote today to learn more about how workers' compensation insurance can protect your roofing business in Missouri.
Frequently asked questions
Will my Workers' Compensation premium jump after one claim?＋
Yes. A claim can increase your premium. However, the amount of the increase will depend on the severity of the claim and your claims history. If you have a history of frequent or severe claims, your premium may increase more significantly than if you have a single, minor claim. Additionally, some insurance providers offer premium discounts for businesses that implement safety measures and have a strong claims history.
Can I get a COI same-day for a client?＋
Yes. Many insurance providers offer same-day COIs for workers' compensation insurance. However, this may depend on the complexity of your business and the speed of the underwriting process. It's best to work with an insurance agent who can help you navigate the process and ensure that you receive your COI in a timely manner. Some insurance providers may also offer online portals where you can request a COI and receive it instantly.
Does a sole proprietor need Workers' Compensation?＋
No. Sole proprietors are not required to have workers' compensation insurance in Missouri. However, if you have employees, you will need to purchase workers' compensation insurance to comply with Missouri law. As a sole proprietor, you may still want to consider purchasing workers' compensation insurance to protect yourself in case of an injury. Some insurance providers offer workers' compensation insurance policies specifically designed for sole proprietors, which can provide coverage for medical bills and lost wages if you are injured on the job.
What's not covered by Workers' Compensation?＋
Workers' compensation insurance does not cover damage to your work vehicles or general liability claims. For example, if an employee is involved in a car accident while driving a company vehicle, workers' compensation insurance will not cover the damage to the vehicle. Instead, you will need to have a commercial auto policy to cover this type of damage. Additionally, workers' compensation insurance does not cover intentional acts or injuries that occur outside of work.
Can I cancel my Workers' Compensation policy at any time?＋
Yes. You can cancel your workers' compensation policy at any time. However, you may be subject to a penalty or fee for early cancellation. It's best to review your policy and speak with your insurance agent before canceling to understand any potential consequences. Additionally, if you have a contract with a client that requires you to have workers' compensation insurance, canceling your policy may breach that contract and result in legal consequences.
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Other coverages roofers in Missouri should know
This article is for general educational purposes and is not insurance or legal advice. Coverage requirements and pricing in Missouri change over time and vary by business. Verify current rules with the Missouri Department of Insurance and a licensed agent before purchasing a policy.