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Workers Compensation Insurance: Workmans Comp Insurance Quotes

The ultimate guide to workers compensation insurance.

For your business best protection and savings, we recommend bundling GL with some other important coverages on one Business Owners Policy!


For your business best protection and savings, we recommend bundling GL with some other important coverages on one Business Owners Policy!

AND then, get even more quotes over the phone!icon

Speak with a Representative Now Call 866-929-3479

Table of contents

1. What is Workers Compensation Insurance?2. Origin Of Workers Compensation Insurance3. Does My Business Need Workers Compensation Insurance?4. Workers Compensation Insurance Terms Defined4.1. Insured4.2. Injury4.3. Occupational Disease4.4. Lost Wages4.5. Employees4.6. Location4.7. Benefits4.8. Cancellation4.9. Exclusions5. Who Is Covered By Workers Compensation Insurance?6. How Does Workers Compensation Insurance Work?7. Costs Covered By Workers Compensation Insurance8. Workers Compensation Insurance Exclusions 9. Understanding No-Fault And Exclusive Remedy Provisions 9.1. No Fault Provision Of Workers Compensation Insurance 9.2. Exclusive Remedy Provision10. What Will Happen If You Don’t Get Workers Compensation Insurance for Your Business?11. Where To Get Workers Compensation Insurance?11.1. Private Insurance Companies11.2. State-Run Workers Comp Insurance 12. An Additional Note On Getting Workers Compensation Insurance13. How To File A Workers Compensation Insurance Claim?14. How To Find Workers Comp Attorney Near You?15. Government Agencies for Workers Compensation Insurance15.1. Workers Compensation Board (WCB)15.2. Workers Compensation Appeal Board15.3. Office Of Workmans Compensation Insurance Programs16. Workers Compensation Insurance Cost17. Best Private Workers Comp Insurance Companies17.1. NEXT Workers Compensation Insurance  17.1.1. Pros17.1.2. Cons17.2. CoverWallet Workers Compensation Insurance 17.2.1. Pros17.2.2. Cons17.3. Tivly Workers Compensation Insurance 17.3.1. Pros17.3.2. Cons17.4. Thimble Workers Compensation Insurance  17.4.1. Pros17.4.2. Cons17.5. Hiscox Workers Compensation Insurance 17.5.1. Pros17.5.2. Cons17.6. Liberty Mutual Workers Comp Insurance 17.6.1. Pros17.6.2. Cons17.7. Travelers Workers Comp Insurance  17.7.1. Pros  17.7.2. Cons17.8. AmTrust Workers Comp Insurance 17.8.1. Pros17.8.2. Cons

You are responsible for your employee’s welfare. And aside from providing safe working conditions and equal workplace opportunities, you must also ascertain that employees receive adequate compensation in case something happens to them at work. 

Workers' compensation insurance allows you to compensate an employee without incurring any losses. It also ensures that the employee receives adequate help. In this guide, learn what workers' compensation insurance is, how much it costs, the best companies, and more. 

Also read:

What is Workers Compensation Insurance?

Workers compensation insurance is a type of business insurance that takes care of the resulting costs and provides employment benefits in case a worker of your business sustains a work-related injury or disease. This is also called workers comp insurance or workman’s comp insurance. 

All states, except Texas, require businesses to get workers' compensation insurance for employees. 


Origin Of Workers Compensation Insurance

The origin of workers' compensation coverage can be traced to England and Germany. 

In Germany, the 1838 Prussian Railway Liability Act established the guidelines and fundamental principles that would later be used in crafting workers' compensation insurance. This act made railroad companies liable for the injuries of employers and passengers. 

The origin of workers compensation insurance in England can be traced in the adoption of 1880 Employer’s Liability Act which covered all labor workforce except seafarers and domestic workers. 

The United States studied the worker's compensation legislation of both countries and decided that it was feasible. The Federal Employers Liability Act was adopted and after it, the Federal Employee’s Compensation Act. 

Both legislation spearheaded the creation of a worker's compensation system in the USA. Wisconsin was the first to implement this permanently. Other states then followed. By 1949, states required businesses to get workers' compensation insurance. 


Does My Business Need Workers Compensation Insurance?

As said earlier, workers compensation insurance helps your business take care of resulting costs when an employee sustains a work-related injury or disease. But aside from this, there are other reasons why you need to get the policy. 

Workers' compensation insurance allows you to retain talents. Nowadays, no employee will stay with an employer who can’t provide adequate coverage in case something happens to him or her. 

Having workers' compensation insurance fosters healthy employee-employer relationships. The policy boosts employee morale and productivity. Also, they’ll become more confident to take on perilous tasks.

Last but not least, workers' compensation insurance protects you. Employees receiving benefits from workers comp coverage after sustaining a work-related injury or disease can’t sue you for negligence. 


Workers Compensation Insurance Terms Defined

This section discusses the common terms used in the language of workers' compensation insurance. 


Insured

Insured pertains to the individuals, entities,  or organizations who can use the benefits and funds workers' compensation insurance provides, subject to exemptions stated in the worker's comp laws of each state. 


Injury

Injury, in the language of workers' compensation insurance, is any bodily harm incurred by the insured as a result of work or an accident that took place at work. 


Occupational Disease

In workers' compensation insurance contracts, the term occupational disease means any sickness or long-term ailments the insured sustained as a result of work or an accident that took place at work. 


Lost Wages

Lost wages pertain to the lost income of the insured, which resulted from his inability to perform his or her duties at the workplace. 


Employees

This pertains to the workforce - full-time or part-time- of the business covered by workers' compensation insurance.


Location

Location pertains to workplaces where workers' compensation insurance applies. This term is included in the language of the policy in case the policyholder has multiple business locations.


Benefits

Benefits pertain to what you’ll receive from workers' compensation insurance particularly, remuneration for medical expenses, reimbursement for lost wages, etc. 


Cancellation

Cancellation pertains to the voluntary and express request of the policyholder to terminate the validity of his or her business’s workers' compensation insurance policy. 


Exclusions

These are situations, perils, or occurrences where the coverage of workers' compensation insurance doesn’t apply. 



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Who Is Covered By Workers Compensation Insurance?

Workers' compensation insurance covers full-time and part-time employees. In some states, family members who help out with your business can also be covered by the policy. 

It’s important to discuss whether or not you as the policyholder can also be covered by workers' compensation insurance. 

The answer to this is a yes. However, coverage only applies if you yourself also take part in your business’s day-to-day operations. For example, if you’re the owner of a lawn mowing business, and you render lawn mowing services with employees, then federal workers' compensation insurance can help if you get injured or sick. 

Depending on which company is underwriting it, you’re either automatically named as insured in the terms of workers' compensation insurance or you might need to name yourself as an insured in the policy’s terms. 


How Does Workers Compensation Insurance Work?

Workers' compensation insurance provides coverage if an employee sustains any of the following work-related injuries:

  • Muscle strains

  • Repetitive strain injuries

  • Cuts

  • Lacerations

  • Concussions

  • Fractures

  • Burns

  • Vision impairment

  • Carpal tunnel


In connection, workers' compensation insurance also applies if an employee sustains any of these because of work:

  • Dermatitis

  • Hearing loss

  • Musculoskeletal disorders

  • Respiratory illnesses

  • Stress and anxiety

  • Bloodborne diseases

  • Foodborne diseases

  • Mental disorders


Costs Covered By Workers Compensation Insurance

The costs covered by workers' compensation insurance depend on the workers' comp laws of each state. Nonetheless, these are the expenses that are usually covered by the policy:

  • Ambulance fees and medical treatment-Workers' compensation insurance covers ambulance fees if an employee needs to be rushed to the hospital after sustaining a work-related injury or disease. It will also pay for the employee’s emergency medical treatment 

  • Hospitalization-With worker's compensation insurance in place, your business can cover bills without incurring losses if an employee is admitted at the hospital for weeks, days, or months 

  • Medication-Workers' compensation insurance provides the money your employee can use to buy the medicines needed for a work-related injury or disease to heal 

  • Rehabilitation-In case of impairment, the employee can request to be on workers' comp to get the money for taking care of rehabilitation costs

  • Lost wages-Workers' compensation insurance benefits include the reimbursement of the lost wages of an employee. The policy does this by giving a weekly allowance equal to 67% or two-thirds of a covered employee’s weekly wage 

  • Death benefits-Your business can use workers' compensation insurance to cover the funeral of an employee who died due to a work-related injury or disease. The policy also provides financial assistance to dependents 


Workers Compensation Insurance Exclusions 

Workers' compensation insurance doesn’t cover contractors, volunteers, and interns. Also, those working at farms, federal offices, and railroad employees might not be covered by the policy. 

Self-inflicted injuries fall out of the scope of workers' compensation insurance. Therefore, if an employee injured himself or herself to get workers comp benefits, then the policy can’t provide coverage. Also, the employee might be charged with insurance fraud. 

There are situations where workers' compensation insurance can’t help even if an employee sustained an injury or disease at the job. For example, company parties, running a personal errand while on-duty, etc. 


Understanding No-Fault And Exclusive Remedy Provisions 

Your worker's compensation insurance will include a no-fault provision in its language. In connection, the state where your doing business might have an exclusive remedy provision in its worker's comp law. Allow us to explain what these are:


No Fault Provision Of Workers Compensation Insurance 

Regardless of where you decide to get it, your worker's compensation insurance will always have a no-fault provision. 

A no fault provision makes it possible for workers' compensation insurance to provide coverage regardless if the work-related injury was your business’s fault or your employee’s fault. 

In other words, even if the employee is to blame for sustaining a work-related injury or disease, so long as such happened while working, your business must still provide benefits through workers' compensation insurance. 


Exclusive Remedy Provision

Some states adopt an exclusive remedy provision in their worker's comp laws. An exclusive remedy provision protects employers from lawsuits filed by an employee covered by workers' compensation insurance. 

To expound further, if you’re in a state that grants an exclusive remedy to employers, an employee who is currently receiving the benefits of workers comp insurance can’t sue your business for negligence. 

Note that authorities can remove the protection of exclusive remedy if your business is guilty of violating workers' compensation laws. 


What Will Happen If You Don’t Get Workers Compensation Insurance for Your Business?

Not having workers' compensation insurance policy will result in the following issues:

  • Incurring financial losses-Your business will incur heavy losses if it provides compensation using its own funds

  • Legal liability-If not covered by workers' compensation insurance, your business will lose its right to exclusive remedy. As a result, an employee can sue for negligence after sustaining a work-related injury or disease

  • Business closure-Authorities will issue a legal injunction if your business doesn’t cover employees with workers' compensation insurance

  • Fines-Authorities will impose a fine if your business doesn’t have workers' compensation insurance. This can be an accumulating fine or an amount equal to twice you would’ve paid for workers comp premiums 


Where To Get Workers Compensation Insurance?


Private Insurance Companies

Private commercial insurance companies all offer workers' compensation insurance. They are your best option of getting covered if you’re in a state which allows businesses to get coverage from private carriers. 


State-Run Workers Comp Insurance 

Some states have a workers comp fund available to businesses that can’t get covered by private insurance companies.  

Much like private carriers, these states underwrite workers compensation insurance coverage for all sector employers for job-related injuries and ailments acquired when conducting business and oversee workers' compensation programs. 

These are where you can get workers comp insurance from the state or from private commercial insurance companies:

  • Arizona

  • California 

  • Colorado 

  • Hawaii 

  • Idaho 

  • Kentucky 

  • Louisiana 

  • Maine 

  • Maryland 

  • Minnesota 

  • Missouri 

  • Montana 

  • New Mexico 

  • New York 

  • Oklahoma 

  • Oregon 

  • Pennsylvania 

  • Rhode Island 

  • Texas 

  • Utah


An Additional Note On Getting Workers Compensation Insurance

In North Dakota, Ohio, Washington, Wyoming, Puerto Rico, and the U.S. Virgin Islands, private insurance companies cannot provide workers' compensation insurance. Only the government-owned and operated bureau of workers compensation can.

These states are called monopolistic states and are not required to follow the guidelines of the National Council on Compensation Insurance. Also, businesses in these states can’t avail the worker's comp insurance of private commercial insurance companies. 


How To File A Workers Compensation Insurance Claim?

The following are things you need to do to file a workers comp claim:

  • Visit the employee and inquire about the nature of his or her injury or disease and how it was sustained

  • If possible, secure proof by taking picture of the injury and the place where the injury or disease occurred

  • Prepare these; employee report, employee medical records, employer’s report, and supervisor incident investigation form

  • Call the insurance company or visit its website then file your worker's comp claim and submit the papers you prepared

  • Wait for the claim to be processed

  • If your claim is rejected, you can choose to dispute it in court


How To Find Workers Comp Attorney Near You?

If you decide to dispute the decision of the insurer, find a workers comp attorney who will represent you. 

Searching online is the easiest way of finding one. Just visit Google or any other search engine and type “workers compensation attorney near me” or “workers comp lawyer near me”. Once you do this, numerous firms and offices will be shown. 

A workers comp attorney will prove that the insurer’s reason for rejecting the claim is groundless. If you win, not only will the rejection be reversed but also your business can receive compensation from the company as stipulated by workers comp laws. 

Note that aside from an attorney, you can also seek help from government agencies that oversee the implementation of workers' compensation insurance. 


Government Agencies for Workers Compensation Insurance


Workers Compensation Board (WCB)

As almost every state and province has statutory corporations for workers' compensation commission, each commission also has a workers' compensation board. The WCB handles aspects of compensation coverage. They provide the structure where organizations can properly deal with all transactions related to worker's compensation benefits. 


Workers Compensation Appeal Board

Although worker's compensation insurance is set to reduce problems with work-related injuries, more serious matters may arise which must be addressed.

Thus, the government created a seven-member Workers’ Compensation Appeals Board (WCAB), a judicial body confirmed by the Senate and appointed by officials to exercise all legal powers bestowed by the Labor Code. They are expected to do the following:

  • Decide on every worker's comp insurance disputes 

  • Provide guidance and leadership in the implementation of workers' compensation insurance 


According to the U.S. Labor Code, their major functions are as follows:

  • Review of appeals for reevaluation (e.g. petition for reconsideration, petition for removal, petition for writ review and so on) of pronouncements through the workers' compensation law  judges  

  • Regulate the adjudication procedure by making use of the laws of practice, including its procedure


Office Of Workmans Compensation Insurance Programs

Another government body that has a role in handling workers compensation insurance is the Office of Workmans Compensation Programs. They are housed by the U.S. Department of Labor. They are responsible for drafting compensation policies for employees of specific industries such as federal employees, coal miners, and longshoremen. This is because the functions of the said workers involve a higher risk for accidents, injuries, and even loss of life.

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Workers Compensation Insurance Cost

The premiums for workers' compensation insurance vary per customer. Factors that determine workers comp insurance cost are payroll, the number of employees, claims history, business history, and location.

On average, businesses pay $101 per month or $1,212 per year for workers' compensation insurance. In addition, here’s a table showing the rates of the best companies for workers' compensation insurance:


Cost per MonthCost per YearBest for
NEXT$87.50$1,050Best overall; Cheapest worker's compensation insurance
Thimble$88.92$1,067.04Workers' compensation insurance for sole proprietorships
CoverWallet$90$1,080Workers' compensation insurance quotes comparison online
Hiscox$104.50$1,254Fast workers compensation insurance claims process
Tivly$125$1,500Comparing worker's compensation insurance quotes over the phone
AmTrust$155$1,860Workers comp insurance for retail, beauty, and medical businesses
Liberty Mutual$160$1,920Workers comp insurance and risk control solutions
Travelers$165$1,980Pay-as-you-go worker's compensation insurance


Be sure to compare quotes before getting covered. By doing so, you'll get the best workers' compensation insurance at the most reasonable price. Start by clicking the "Get Quotes" button on this page.

COMPARE CHEAP WORKERS COMPENSATION INSURANCE QUOTES

Get all the best quotes from leading providers in a click of a button!

AND then, get even more quotes over the phone!icon

Speak with a Representative Now Call 866-929-3479

Best Private Workers Comp Insurance Companies

This section reviews the best private workers comp insurance companies. Read to know their pros, cons, and rate.


NEXT Workers Compensation Insurance

Pros

  • Best overall

  • Issues an online proof of insurance instantly

  • Great customer service and reputation

  • Excellent rates

  • Outstanding value for money

  • Get a 10% discount if you bundle workers compensation insurance with other policies NEXT underwrites

Cons

  • Couldn’t find any

NEXT makes workers comp insurance affordable for small businesses. The policy’s rate from this company starts at $14 per month. Moreover, you can bundle it with general liability and commercial property insurance to get a 10% discount. According to NEXT, most of its customers pay $25-$150 per month for its workers compensation insurance.

Best for: Best overall; Cheapest workers compensation insurance

Average cost: $87.50 per month (starts at 14 per month)

Our rating: 10/10


CoverWallet Workers Compensation Insurance

Pros

  • You can bundle workers comp with other business insurance policies

  • Cancel your workers comp insurance anytime

  • View the status and manage your workers comp insurance online

Cons

  • Doesn’t underwrite workers comp insurance, only sells it with partners

CoverWallet sells workers compensation insurance as a stand-alone policy. However, the company allows you to get the most from the policy by bundling it with general liability insurance, professional liability insurance, or commercial auto insurance.

Note that CoverWallet allows you to monitor the status of your workers comp policy through its MyCoverWallet app.

Use CoverWallet’s online quotes comparison platform to look at the rates of carriers selling workers compensation insurance.

Best for: Workers compensation insurance quotes comparison online

Average cost: $90 per month

Our rating: 10/10


Tivly Workers Compensation Insurance

Pros

  • Compare workers compensation insurance quotes by the phone

  • Assigns a representative that will help you understand the features of your workers compensation insurance

  • Will refer you to partners if your business profile doesn’t match its underwriting appetite

Cons

  • Doesn’t issue an online quote

Tivly (formerly CommercialInsurance.NET) is an insurance company that solely sells workers' compensation insurance by phone. Though you can request a quote online, a representative will still be the one to calculate your worker's comp premiums and take you through its features.

Call Tivly now and compare workers comp insurance quotes over the phone.

Best for: Comparing worker's compensation insurance quotes over the phone

Average cost: $125 per month

Our rating: 10/10


Thimble Workers Compensation Insurance

Pros

  • Provides fast estimates of your workers comp rates

  • Workers comp insurance comes with employer’s liability insurance

Cons

  • Workers compensation insurance isn’t available if your employees are outsourced from an employment agency

  • Workers comp insurance is underwritten by Employer’s Insurance Company of Nevada

The way Thimble offers its workers compensation insurance is peculiar. Sometimes, the policy is already bundled in a particular business’s specialized coverage. In other cases, it must be availed as a stand-alone policy.

Best for: Workers compensation insurance for sole proprietorships

Average cost: $88.92 per month

Our rating: 9/10


Hiscox Workers Compensation Insurance

Pros

  • File and track the status of your worker's comp claim online

  • 14-day money-back guarantee

  • Workers comp policy documents are automatically emailed to you upon purchase

Cons

  • Doesn’t underwrite the worker's comp insurance it sells

Hiscox sells workers' compensation insurance in partnership with CyberPolicy. You can apply for coverage online. However, you might need to wait for a representative's call to finish the quote process. Note that Hiscox has a claims center where you can easily track the status of your worker's comp insurance claim.

Best for: Fast workers compensation insurance claims process

Average cost: $104.50 per month

Our rating: 9/10


Liberty Mutual Workers Comp Insurance

Pros

  • Risk control solutions

  • Workers comp insurance is available for all business sizes

  • Employs several claims adjusters who specialize in different business industries

Cons

  • Online quotes unavailable

Liberty Mutual workers compensation insurance is one of the leading products in the industry. They provide proactive risk control solutions and have a proven efficient claims resolving system.

Best for: Workers comp insurance and risk control solutions

Average cost: $160 per month

Our rating: 9/10


Travelers Workers Comp Insurance

Pros

  • Offering a pay-as-you-go workers' compensation product

  • An underwriter of workers comp insurance for more than 100 years

  • Straightforward online claims filing

Cons

  • No online quotes

  • Doesn’t offer workers' compensation insurance nationwide

Travelers workers comp insurance is an industry-leading provider, empowering business owners by providing them with flexible solutions, responsive and reliable service and innovative resources.

Travelers workers comp claims are easily processed online and they provide excellent services with flexible solutions that follow innovations and changes in the modern business industry to deliver what employees need when claiming the benefits provided through the clauses of their workers’ comp Insurance policies.

Best for: Pay-as-you-go worker's compensation insurance

Average cost:$165 per month

Our rating: 9/10

AmTrust Workers Comp Insurance

Pros

  • Works closely with policyholders

  • AmTrust representatives help you understand the works comp guidelines of your state

  • You can request for AmTrust to do a premium audit

Cons

  • Caters to all but AmTrust’s worker's comp is specially tailored to a few businesses

Speedy and efficient claims handling of workers' compensation is what AmTrust pride itself most. They are committed to using evolving technologies for their worker's compensation insurance to make it easier for policyholders to manage their plans with them. AmTrust provides fair and affordable workers' compensation insurance.

Best for: Workers comp insurance for retail, beauty, and medical businesses

Average cost: $155 per month

Our rating: 9/10




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