Workers Comp Insurance Quote
Get a workers' comp insurance quote that protects your employees and shields your business from lawsuits. We compare carriers to find coverage that meets Missouri requirements at a price your business can afford.
Workers' compensation insurance covers employees who are injured or become ill on the job. It pays their medical bills and replaces lost wages while they recover. It also protects your business from employee lawsuits related to workplace injuries.
In Missouri, most businesses with 5 or more employees must carry workers' compensation insurance. But even smaller businesses benefit from the protection it provides.
What Workers Compensation Covers
• Medical expenses - Doctor visits, hospital stays, surgery, physical therapy, medications, and medical equipment for work-related injuries and illnesses.
• Lost wages - A portion of the employee's salary while they recover and can't work. Typically, 66.67% of the average weekly wage in Missouri.
• Disability benefits - Temporary or permanent disability payments if the injury causes lasting impairment.
• Death benefits - Payments to dependents if a work injury causes death, plus funeral expenses.
• Rehabilitation and retraining - Vocational rehabilitation if an employee can't return to their previous job.
How Workers' Comp Protects Employers
Workers' compensation is sometimes called the "grand bargain" between employers and employees. Here's the trade-off:
Employees give up the right to sue their employer for workplace injuries. In exchange, they receive guaranteed benefits without having to prove fault.
Employers give up the ability to deny responsibility for workplace injuries. In exchange, they receive protection from potentially devastating lawsuits and unpredictable jury verdicts.
This trade-off protects both sides. Employees get predictable benefits. Employers get predictable costs and lawsuit immunity.
What Affects Your Workers' Comp Rate?
• Industry classification code - Every job has a classification code based on its risk level. Office workers cost less than roofers.
• Annual payroll - Premiums are calculated per $100 of payroll. More payroll means higher premiums.
• Claims history (experience modifier) - Your actual claims experience compared to expected claims for your industry. Fewer claims equals lower rates.
• Safety programs - Some carriers offer credits for documented safety programs and training.
• Number of employees - More employees means more exposure and higher premiums.
Understanding Your Experience Modifier
Your experience modifier (mod) compares your actual claims history to what's expected for businesses like yours. A mod of 1.0 is average. A value below 1.0 indicates fewer claims than expected (lower rates). A value above 1.0 indicates more claims (higher rates).
Good safety practices pay off over time. Preventing injuries keeps your mod low and your premiums affordable. We can help you understand your mod and find ways to improve it.