I want to start a roofing business in Louisiana, can I just purchase general liability without workmens comp?
jeffery s asked:
I want to start a roofing business in Louisiana, can I just purchase general business liability insurance without workmens comp? It will be a small company just 3 of us(me and 2 sons)….which are covered on personal insurance policies….Please help!!!!
The One-Minute Cure For Virtually All Diseases.
I want to start a roofing business in Louisiana, can I just purchase general business liability insurance without workmens comp? It will be a small company just 3 of us(me and 2 sons)….which are covered on personal insurance policies….Please help!!!!
The One-Minute Cure For Virtually All Diseases.
Better speak to a agent or a insurance company to get quote..Whereas use the link below to get free quote.
Sure, you can buy just the GL.
But don’t bet on your personal health insurance covering injuries that are “workers compensable”. Most have exclusions for work related injuries. And even if they don’t, if this is your business, and a son is injured, his health insurer can SUE YOU for all the medical bills. And God Forbid he gets killed, his wife/kids can SUE YOU for lost wages for the rest of his life. And they’ll win.
Not having workers comp does NOT get a business owner off the hook for workers comp benefits – medical payments and lost wages are STILL due the injured person. Their health insurance company IS entitled to reimbursement of medical payments. Or their estate. And they can’t sign those rights away.
Don’t believe me? Discuss it with your lawyer.
If you set up your company as a partnership where all 3 of you are partners (and you do not employ anyone else not even a day laborer) you can probably decline coverage. However, you need to make sure that you can do this with regard to Louisiana law. Consult with an insurance agent who is licensed in Louisiana and who specializes in business insurance or attorney for verification. Or you can also consult with the State at (225) 342-7555. If you can decline coverage and choose to do so, realize that each of you will need to have health insurance, life insurance and disability insurance which might not be so easy to get because of your occupation. Roofing is considered one of the most hazardous employments due to the propensity for falls.
Your agent should be able to sell you commercial general liability coverage and if you have chosen to decline the workers compensation will probably ask you to sign a waiver. If you can and do choose to waive your right, I would also have each of your sons sign for the sake of clarity and to avoid any future misunderstandings.
Good Luck