Idaho Workers Compensation Insurance: Quotes From $40/mo

Workers Compensation Insurance is critical to running a business in Idaho. This essential coverage provides financial protection for employees who experience work-related injuries or illnesses. It ensures that they receive necessary medical care, compensation for lost wages, and support for rehabilitation. As an employer, understanding the intricacies of Idaho workers compensation insurance is vital to protect your business and your employees.

What is Workers Compensation Insurance?

Workers Compensation Insurance is an indispensable form of insurance that offers invaluable protection to employers and employees regarding work-related injuries or illnesses. This insurance system ensures that employees receive essential benefits and necessary medical care if they suffer from injuries or fall ill while performing their duties.

At its core, Idaho workers compensation insurance acts as a financial safety net, covering a wide array of work-related incidents such as accidents, repetitive motion injuries, occupational diseases, and even mental health conditions arising from work conditions. By providing this coverage, employers fulfill their legal obligations and demonstrate their unwavering commitment to the health and safety of their workforce.


When Do You Need to Get Workers Compensation Insurance in Idaho?

Idaho workers compensation insurance requirements are crucial for all employers in the state, regardless of the size of their workforce. This includes full-time, part-time, seasonal, and occasional employees, as well as contractors and subcontractors, as per Idaho workers compensation law. By obtaining this insurance, businesses fulfill their legal obligation, protect their employees, and minimize financial risks.

The primary purpose of workers compensation insurance Idaho is to provide comprehensive coverage for employees who sustain work-related injuries or illnesses. In the unfortunate event of such incidents, the insurance helps cover various expenses, including medical treatments, emergency care, surgical procedures, and recovery. It acts as a safety net, ensuring employees receive medical attention and support without incurring significant financial burdens.

Additionally, Idaho workers compensation insurance also safeguards businesses by limiting their liability in case of work-related incidents. Employers can avoid potential lawsuits and mitigate the financial impact of workplace injuries or illnesses by having this coverage. It provides a sense of security and peace of mind, allowing businesses to focus on their operations while ensuring the well-being of their workforce.


What Government Agency Oversees Workers Compensation in Idaho?

The Industrial Commission in Idaho is the designated government agency responsible for regulating and administrating workers compensation. It is pivotal in enforcing the Idaho workers compensation rules and coverage guidelines. Employers must comply with these state rules, including SIF Idaho workers compensation, to ensure adequate employee protection in work-related injuries or illnesses.

As a mediator, the Industrial Commission resolves disputes that may arise between injured workers, employers, and insurance providers. It also handles appeals for unemployment decisions issued by the Idaho Department of Labor. The commission actively supports injured workers in their recovery by facilitating access to medical treatments and assisting with their return to work, aiming to restore their pre-injury status and wage.

In addition to its regulatory role, the Industrial Commission administers the Crime Victims Compensation Program, providing compensation to innocent victims of crime. This program supports individuals who have suffered physical or emotional harm from criminal acts.

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Which Businesses Are Exempt from Getting Workers Compensation Insurance in Idaho?

Under Idaho workers compensation laws, specific categories of businesses may be exempt from the requirement to obtain workers compensation insurance. It is important to understand these exemptions to determine if your business qualifies. Examples of businesses that may be exempt from getting workers comp in Idaho:

  • Household Domestic Service: Businesses that offer domestic household services, such as housekeeping or nanny services, may be exempt from the requirement to obtain workers compensation insurance in Idaho. This exemption recognizes that these types of businesses often operate in private residences and involve different risks and employment arrangements compared to traditional workplaces.

  • Family Members in Sole Proprietorships: Family members who reside in the household of a sole proprietor in Idaho may be exempt from the obligation to obtain workers compensation insurance. This exemption acknowledges the unique nature of family relationships and the close association between the sole proprietor’s personal and business life.

  • Real Estate Brokers and Salespersons Paid Solely by Commission: Real estate brokers and salespersons in Idaho who are paid solely by the commission may qualify for an exemption from the requirement to obtain workers compensation insurance. This exemption recognizes the unique compensation structure of these professionals, where their earnings are directly tied to the sales they generate.

  • Casual Work: Certain types of casual work in Idaho that take place occasionally or at irregular intervals and are not directly related to the employer’s main business activities may be exempt from the requirement of obtaining workers compensation insurance. This exemption recognizes that infrequent or incidental work engagements may not warrant the same level of coverage as regular employment.

  • Outworkers: Individuals who receive materials at a location not controlled by the employer may be exempt from the requirement to carry workers compensation insurance in Idaho. This exemption acknowledges that these workers operate in a unique arrangement where they receive materials and perform work independently, outside the immediate control of the employer.

Certain business owners and leaders may also be exempt from Idaho workers compensation coverage, such as sole proprietors, working members of partnerships or limited liability companies, and corporate officers who own at least 10% of the company’s stock. However, it is important to note that even if business owners are exempt, they must still provide coverage for their employees.


How Much Money Does Idaho’s Workers Compensation Insurance Provide?

When it comes to Idaho’s workers compensation insurance, the amount of money provided to an employee is determined by factors such as the nature of the injury or disability. Let’s take a closer look at the benefit amounts in different categories.

  • Temporary Partial Disability Benefits: For employees who experience partial disability but can still work, albeit with reduced wages, temporary partial disability benefits are available. These benefits cover approximately two-thirds (67%) of the difference between the pre-injury wages and the earnings after the injury. The specific rates can be obtained from the Idaho State Fund for Workers Compensation.

  • Temporary Total Disability Benefits: When an employee is entirely unable to work due to a work-related injury or illness, they may be eligible for temporary total disability benefits. These benefits provide around two-thirds (67%) of the employee’s average weekly wage. It is important to note that Idaho workers compensation rates may be subject to change.

  • Permanent Partial Disability Benefits: If an employee sustains a permanent impairment or disability but can still work in some capacity, they may be eligible for permanent partial disability benefits. The specific amount depends on the nature and extent of the disability and is calculated based on a schedule provided by the Idaho industrial commission workers compensation. The schedule assigns a specific number of weeks of benefits for each type of disability, and the weekly benefit amount is two-thirds (67%%) of the employee’s average weekly wage.

  • Permanent Total Disability Benefits: In cases where an employee sustains a permanent total disability that renders them unable to engage in any gainful employment, they may be eligible for permanent total disability benefits. These benefits generally provide approximately two-thirds (67%) of the employee’s average weekly wage. 

It’s important to note that these benefit amounts are subject to change over time, and individuals should refer to the most up-to-date information provided by the Idaho Industrial Commission or consult with legal professionals to understand their specific circumstances and entitlements, including the option of self-insurance.


How Long Will an Employee Wait Before Receiving Benefits?

When an employee files a workers compensation claim in Idaho, there is a waiting period before they start receiving benefits. Generally, the waiting period is three days from the date of the injury. This means that for the first three days of the disability, the employee will not receive any benefits. However, if the disability continues for more than 14 days, the employee may also be eligible to receive benefits for the initial three-day waiting period. This ensures that employees are compensated for the entire duration of their disability, including the waiting period.

It’s important to note that the waiting period applies to temporary total disability benefits and temporary partial disability benefits. Temporary total disability benefits are provided when an employee is completely unable to work. At the same time, temporary partial disability benefits are given when an employee can work but at a reduced capacity. For permanent disability benefits, such as permanent partial disability or permanent total disability, no waiting period is usually specified in Idaho workers compensation laws. Once the extent of the permanent impairment or disability is determined, the employee can start receiving benefits without any further waiting period.

Employers and employees should familiarize themselves with the specific waiting period requirements and other regulations outlined in Idaho workmans comp laws. It’s recommended to consult with the Idaho State Fund Workers Compensation or seek legal advice to clearly understand when benefits will be provided and address any individual circumstances or concerns. Understanding the waiting period and benefit eligibility is crucial for employees to receive the appropriate compensation during their recovery from work-related injuries or disabilities.


Idaho State Fund Workers Compensation

The Idaho State Fund Workers Compensation, also known as the State Insurance Fund or simply State Fund, is a state-operated insurance carrier that provides workers compensation coverage to employers and employees in Idaho. Established in 1917, the State Fund is a government agency created to ensure that workers injured on the job receive necessary benefits and medical care, while also providing employers with protection against potential liabilities.

As a monopolistic state of Idaho workmans comp provider, the State Fund is the sole entity authorized to underwrite workers compensation policies. Unlike other states where employers can choose between private insurance carriers, in Idaho, all employers must obtain their SIF Idaho workers compensation coverage through the State Fund. This approach ensures that workers are protected, and employers fulfill their legal obligations to cover work-related injuries and illnesses.


Penalties for Not Getting Workers Compensation in Idaho

Employers who fail to comply with Idaho workers compensation requirements may face significant penalties and consequences. It is essential for employers to understand and adhere to the Idaho workers compensation policy. Here are the specific penalties that can be imposed:

  • Administrative Penalties: The Idaho Industrial Commission, which oversees workers compensation matters, has the authority to impose administrative penalties on non-compliant employers. These penalties can include fines, determined based on the severity and duration of the non-compliance and the number of employees affected.

  • Stop Work Orders: In non-compliance with workers comp insurance in Idaho, the Industrial Commission can issue a stop work order. This order prohibits the employer from conducting further business operations until the required insurance coverage is obtained.

  • Personal Liability: Employers who do not have Idaho workers compensation insurance may become personally liable for any work-related injuries or illnesses their employees suffer. This means that employers may have to bear the financial responsibility for medical expenses, disability benefits, and other related costs out of their own funds.

  • Criminal Penalties: Willful non-compliance with workers’ compensation requirements, including when working remotely, can lead to criminal charges. The severity of penalties varies based on the violations’ nature and extent, potentially resulting in fines and even imprisonment for the responsible parties.

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Idaho Workers Compensation Insurance Cost

Understanding the cost of Idaho workers compensation coverage is essential for businesses to budget effectively and ensure compliance with state regulations. On average, businesses in Idaho can expect to pay around $25 per month or $300 per year. Various factors influence Idaho workers compensation insurance coverage costs. By considering these factors, businesses can effectively estimate their workers compensation insurance costs while ensuring compliance with Idaho’s regulations:

  • Industry Classification: The nature of the business and the associated risks play a significant role in determining the insurance cost. Industries classified under workmans comp Idaho can have different levels of risk, and insurance rates tend to be higher for industries with higher injury rates. Businesses need to consider their industry classification and understand the specific risks involved to accurately assess the cost of workers compensation insurance.

  • Payroll: A business’s payroll size is crucial in calculating workers compensation premiums. Insurance carriers often determine premiums based on a percentage of the total payroll. A larger payroll generally results in higher insurance costs.

  • Claims History: A business’s claims history directly impacts its workers compensation insurance costs. Insurance providers assess past claims to determine the risk of insuring the business. A history of frequent or severe claims can lead to higher premiums.

  • Safety Measures and Risk Management: Businesses prioritizing workplace safety and implementing effective risk management strategies are often rewarded with lower insurance costs. Insurers determine premiums by considering safety records, training programs, and risk reduction measures.

  • Experience Modifier: The experience modifier adjusts workers’ comp premiums based on claims history. A favorable history lowers the modifier and reduces costs. A ghost policy can cover owners/partners without workers’ comp benefits.

  • Carrier Rates and Discounts: Idaho insurance carriers offer varying workers compensation coverage rates. Rates can differ based on the carrier’s underwriting guidelines, market competition, and specific discounts or incentives available. It is essential for businesses to shop around, obtain multiple quotes, and compare coverage options to find the most cost-effective solution.

In order to obtain an accurate cost estimate for Idaho state workers compensation coverage, businesses should seek guidance from insurance providers or brokers who specialize in this specific type of coverage. These experts are well-versed in assessing the factors relevant to businesses operating in Idaho and can offer customized quotes that ensure adequate coverage while optimizing costs.

Company Cost per Month Cost per Year Best for
NEXT $12 $144 Best overall; Fastest workers comp insurance
The Hartford $13 $156 Established Businesses
CoverWallet $30 $360 Comparing workers comp quotes online 
Tivly $85 $1,020 Comparing workers comp quotes over the phone 
Thimble $35 $420 Businesses with fluctuating or project-based work seeking on-demand coverage
Hiscox $23 $276 Small businesses seeking customizable insurance plans

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Best Idaho Workers Compensation Insurance Companies

When considering acquiring workers compensation insurance for your business in Idaho, selecting the right insurance company is crucial. Finding a reputable insurance provider with comprehensive coverage, excellent customer service, and competitive pricing. This review will examine some top Idaho workers compensation insurance companies. 


NEXT

Pros

  • Easy to understand online application process, providing instant proof of insurance..

  • Outstanding customer service and competitive rates.

  • 10% discount for purchasing multiple policies.

  • Positive customers feedback for its excellent value for money.

Cons

  • No specific could be found.

NEXT is a reputable insurance company that provides Idaho workers compensation insurance coverage. They are known for their efficient and user-friendly online application process, making it convenient for businesses to obtain the necessary coverage. With NEXT, businesses can expect instant proof of insurance, allowing them to meet Idaho workers compensation  requirements promptly.

Best for: Best overall; Fastest workers comp insurance

Average cost:$12 per month

Our rating: 10/10


CoverWallet

Pros

  • User-friendly online platform for easy policy management and claims processing.

  • Customizable insurance plans tailored to the specific needs of businesses.

  • Variety of coverage options, including workers compensation insurance.

  • Strong reputation for excellent customer service and support.

Cons

  • It is an insurance broker, not an insurance company

CoverWallet is a well-established insurance company that offers workers compensation insurance coverage for businesses in Idaho. They have built a strong reputation for their comprehensive and customizable insurance solutions tailored to meet the specific needs of businesses across various industries. CoverWallet’s user-friendly online platform sets it apart, which allows businesses to navigate the insurance application process easily.

Best for: Comparing workers comp quotes online 

Average cost: $19 per month

Our rating: 10/10


The Hartford

Pros

  • Decades of experience in the industry.

  • Has a variety of insurance products, including comprehensive workers compensation coverage.

  • Strong financial stability and reputation.

  • Exceptional customer service and support.

Cons

  • You have to consult with an agent before finalizing your workers compensation insurance policy

The Hartford is a trusted insurance provider offering reliable workers compensation coverage for businesses in Idaho. With extensive industry experience, they understand businesses’ unique needs and provide comprehensive solutions. Their commitment to exceptional customer service, competitive rates, and solid track record make them a reliable choice for Idaho businesses needing workers compensation insurance.

Best for: Healthcare businesses seeking a reputable and experienced insurance provider

Average cost: $13 per month

Our rating: 10/10

Tivly

Pros

  • Specializes in providing workers compensation insurance solutions tailored to the needs of small businesses.

  • Simplified online application process, ensuring quick and efficient coverage.

  • Competitive pricing and flexible payment options.

  • Positive reviews for its attentive customer service.

Cons

  • There is no mobile application.

Tivly is a reputable insurance company that offers workers compensation coverage tailored to the specific needs of businesses in Idaho. They understand the importance of protecting employees and providing financial assistance in the event of work-related injuries or illnesses. Tivly’s focus on customer satisfaction is evident through their responsive and knowledgeable customer service team, ensuring businesses receive the support they need throughout the claims process. Call now to compare quotes over the phone. 

Best for: Comparing workers comp quotes over the phone 

Average cost: $85 per month

Our rating: 10/10


Hiscox

Pros

  • Strong quality coverage and service reputation.

  • Customizable insurance plans to meet the unique needs of businesses.

  • Dedicated customer support and claims assistance.

  • Seamless online application process, making it easy to obtain coverage.

Cons

  • Not accessible in all states.

Hiscox is an established insurance provider offering comprehensive workers compensation insurance solutions. With a strong presence in Idaho, Hiscox excels in tailoring coverage options to meet the specific needs of businesses in the state. Their commitment to exceptional customer service is evident through their prompt claims processing and personalized assistance. Hiscox understands the importance of protecting employees and supporting businesses in navigating the complexities of workers compensation insurance.

Best for: Small businesses seeking customizable insurance plans

Average cost: $23 per month.

Our rating: 10/10


Thimble

Pros

  • On-demand workers compensation insurance, allowing businesses to purchase coverage for specific time frames.

  • Flexible policies to businesses with varying needs, providing convenience and cost-effectiveness.

  • Quick and easy online platform to obtain coverage with instant policy issuance.

  • Reputation for responsive customer service and support.

Cons

  • Customer support available exclusively online

Thimble is a dynamic and innovative insurance company that offers flexible workers compensation insurance solutions to businesses in Idaho. With their unique on-demand approach, Thimble allows businesses to obtain coverage for specific periods, such as hourly, daily, or monthly, providing greater flexibility and cost-effectiveness. Their user-friendly platform makes it easy for businesses to customize their coverage based on their specific needs, ensuring they have the right level of protection.

Best for: Businesses with fluctuating or project-based work seeking on-demand coverage

Average cost: $35 per month

Our rating: 10/10

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