Are you a business owner in Missouri? Then you need to know how workers’ comp (WC) insurance works – and how it affects your company. Below, we explain what you need to know about WC insurance, and how to get workers’ comp insurance quotes in your state.
Workers’ comp insurance is a type of commercial insurance policy. It covers the costs and expenses associated with work-related accidents, injuries, and illness. In other words, if an employee is injured at work, or develops a disease like mesothelioma due to workplace asbestos exposure, they can claim through workers’ comp.
In many cases, workers’ comp can protect employers from a future personal injury claim, too because the employee can claim through the WC insurance policy rather than filing an injury lawsuit.
Workers’ comp covers a full range of industrial illnesses and injuries. Employees can claim various expenses, including:
The family may also claim death benefits if the employee dies due to their injury or sickness.
No. These policies protect you against claims made by different people.
Your general liability policy protects your business if a third party (such as a customer) makes a claim against your business for property damage or physical injuries. However, your WC policy covers the costs of employee injury or illness.
So, workers’ comp insurance coverage shouldn’t be confused with other plans like general liability or business owners insurance.
In Missouri, most businesses with at least five employees should carry workers’ comp insurance.
However, if you’re operating in the construction industry, it doesn’t matter how many employees you have, or the basis on which you employ them. You need workers’ comp coverage if you have one or more employees.
Not sure if you need cover? InsurePro can help.
You don’t need workers’ comp for home maids or chauffeurs. If you’re hiring someone on a one-off basis to perform work at your private household, there’s no need to provide WC insurance, either.
Sole proprietors don’t need WC insurance if they don’t have employees. However, they can take out WC coverage to protect themselves.
You face significant penalties in Missouri if you don’t have workers’ comp insurance when you need it.
Even class A misdemeanors can result in jail time in Missouri. To protect yourself and your business, you must ensure that you understand your insurance obligations in the state.
In Missouri, every WC insurance quote is different. However, your workers’ comp insurance cost is based on a few factors.
Other factors may be relevant depending on the nature of your business. If you want to buy workers’ comp insurance online, InsurePro can help you estimate the cost.
The claims process is straightforward.
You may wish to get legal advice if you have questions or if the employee hires their own attorney.
WC insurance is a “no-fault” system. In other words, it doesn’t matter who caused the injury – the employee can make a workers’ comp claim. So, even if a worker is partly to blame for their own injury or illness, they can usually still claim workers’ comp if they were harmed on the job.
Despite the no-fault system, not every workers’ compensation claim is successful.
Your insurer can explain what to do if you suspect there’s a fraudulent claim.
You can get workers’ comp insurance in Missouri through private insurers. At InsurePro, our experienced team can match you with quotes from over 20 providers. We’ll help you find competitive workers’ comp rates for your small business, no matter what industry you’re in.