“I don’t have 5 employees so I don’t have to have it – right?” “True, but….”

I hear this a lot since Missouri does not require Employers to have Workers’ Compensation Coverage unless they have 5* or more employees (including the Owners/Officers).  

This is misleading because while true, the employer will not be subject to a significant fine from the State for not having coverage, Work Comp coverage is still strongly recommended since the law does not prevent an injured employee from suing an Employer – they can and likely will. 

Here’s a bit more information: Why Work Comp

The Cliffsnotes version is, protect yourself and your employees by securing the coverage.  Without coverage:

• You may face significant defense and settlement costs 

• Even with a bogus claim (there are many), you’ll have to cover the cost of your legal defense, not to mention the time away from your business while defending the suit – it’s much easier to turn the claim in and let the Work Comp Carrier handle it for you.  You have a business to run and your money and time are better spent on your organization.

For more information about Workers’ Compensation: Contact Us

 *Just one for Employers in the construction industry