Workers Compensation Insurance Quotes

Select one or several lines of business insurance. Multi-line discounts are available for 2 or more lines of business insurance placed with one carrier.

What is Workers Compensation Insurance

Covers the medical expenses and lost income of your employees if they are hurt in the course of doing work-related activities.

Coverage Highlights

  • State minimum or increased limits:
    • Bodily Injury by Accident: from $100,000 and up
    • Bodily Injury by Disease: from $500,000 and up
    • Bodily Injury by Disease: from $100,000 and up
  • Waiver of Subrogation
  • Employees working from home
  • New ventures
  • Lapse in coverage – ok
  • Prior claims – ok
  • High x-Mode – ok
  • Underwritten by A or better rated insurance carrier
  • Flexible billing with multiple payment options
  • Dedicated 800 customer support line
  • 24/7 claim reporting

Workers Compensation Insurance Coverage Highlights

Depending on the circumstances of the injury or illness, injured workers are entitled to specific benefits as structured by Workers Compensation insurance. There are 6 basic types of Workers Compensation benefits:

  • medical care;
  • temporary disability benefits;
  • permanent disability benefits;
  • vocational rehabilitation services;
  • supplemental job displacement benefits;
  • death benefits.

Injured workers may be entitled to one or more of these benefits.

Why purchase Workers Compensation Insurance

Employers who fail to purchase Workers Compensation insurance are in violation of the State Labor Code. Your business may be shut down when discovered you and your employees are uninsured for workers compensation. In addition to all monetary fines for failure to carry Workers Compensation insurance you would also pay a fine of $1,000 per employee.

How is Workers Compensation Premium Calculated

An employer’s premium is calculated twice during the period of the insurance policy. The initial premium or premium estimate is calculated at the beginning of the policy period. It is based on an estimate of wages that an employer is likely to pay during the policy period. The final premium is calculated at the end of the policy period during the audit. It is calculated using the actual amount of wages paid by the employer during the policy period. If the audited premium is higher than the initial premium, the employer will need to pay the difference to the insurance company. If the audited premium is lower than the initial premium, the insurance company will reimburse the employer any overpayment.

Workers’ Compensation Rules

Your state insurance website has all the information regarding worker’s compensation rules and requirements. Search on google for workers compensation insurance bureau.

How Much Does Workers Compensation Insurance Cost

The premium generally starts at $400 per year for those whose annual payroll is low and whose employees perform low risk duties, such as clericals, salespeople, and programmers. Also such premium depends on prior loss history and current experience modification rate. All businesses can take certain steps to lower the chance of a workers compensation insurance claim:

  • Check the driving record of your employees;
  • Provide employees with ergonomic workstations;
  • Maintain your facilities and equipment;
  • Conduct safety meetings;
  • If applicable, equip your machines with safety guards
  • Get safety tips for your business from insurance company.

Why purchase Workers Compensation Insurance

Employers who fail to purchase Workers Compensation insurance are in violation of the State Labor Code. Your business may be shut down when discovered you and your employees are uninsured for workers compensation. In addition to all monetary fines for failure to carry Workers Compensation insurance you would also pay a fine of $1,000 per employee.

How is Workers Compensation Premium Calculated

An employer’s premium is calculated twice during the period of the insurance policy. The initial premium or premium estimate is calculated at the beginning of the policy period. It is based on an estimate of wages that an employer is likely to pay during the policy period. The final premium is calculated at the end of the policy period during the audit. It is calculated using the actual amount of wages paid by the employer during the policy period. If the audited premium is higher than the initial premium, the employer will need to pay the difference to the insurance company. If the audited premium is lower than the initial premium, the insurance company will reimburse the employer any overpayment.

Workers’ Compensation Rules

Your state insurance website has all the information regarding worker’s compensation rules and requirements. Search on google for workers compensation insurance bureau.

View Sample Workers Compensation Insurance Quote