Mississippi Workers Compensation Insurance: Quotes From $35/mo

Mississippi workers compensation insurance plays a key role in the state’s labor landscape, with statistics highlighting its profound impact. With over 42,000 reported non-fatal workplace injuries and illnesses in Mississippi in 2020 alone, the need for robust workers’ comp coverage becomes evident. For both businesses and workers, understanding the intricacies of this insurance system is essential. 

We’ll navigate the Mississippi workers compensation insurance terrain, exploring its laws, benefits, and the critical role it plays in safeguarding both livelihoods and legal compliance. This guide aims to shed light on the nuances of Mississippi workers compensation insurance, ensuring that both employers and workers are well-informed and protected.

What is Mississippi Workers Compensation Insurance

Mississippi workers compensation insurance is a pivotal safety net designed to protect the interests of employees and employers within the state. This specialized insurance system is governed by the Mississippi Workers Compensation Commission, ensuring that workers across various industries are covered in the event of work-related injuries or illnesses.

At its core, workmans comp Mississippi  serves as a crucial guarantee, offering financial and medical support to employees who encounter workplace accidents or develop job-related health conditions. It’s a fundamental aspect of labor law compliance and provides a range of benefits, including wage replacement and medical expense coverage.

However, it’s important to note that not all businesses fall under this mandate. Mississippi workers’ comp law has specific criteria, including exemptions for smaller businesses and certain industries. Understanding these exemptions’ nuances is essential for employers and employees to navigate the legal landscape effectively.

In essence, Mississippi workers compensation insurance is not just a financial safety net but also a legal framework that ensures the well-being of the state’s workforce. It safeguards workers while providing employers with a structured mechanism to handle workplace injuries and illnesses, ultimately promoting a safer and more secure working environment.


When Do You Need to Get Workers Compensation Insurance

In Mississippi, the necessity for obtaining workers compensation insurance hinges on the state’s comprehensive workers’ comp law provisions and specific requirements. To determine when a business needs to secure this insurance, it is crucial to examine the specifics of the Mississippi workers compensation laws. The law dictates that businesses with five or more employees, whether they are engaged full-time, part-time, or seasonally, are typically obligated to provide workers’ compensation insurance. 

This mandate applies across a wide array of industries, encompassing sectors such as construction, healthcare, manufacturing, and beyond, highlighting the comprehensive nature of this legal requirement. However, it’s worth noting that certain exemptions exist within the law. For instance, specific agricultural employers and domestic employees may be exempt from the mandatory coverage. 

Smaller businesses with fewer than five employees might not fall under this requirement. Thus, understanding the provisions of the Mississippi workers compensation rules is essential for businesses to determine their obligation to provide this vital coverage, ensuring both legal compliance and the well-being of their workforce.

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What Government Agency Oversees Workers Compensation Insurance Mississippi

The oversight and regulation of Mississippi workers compensation fall under the purview of the Mississippi Workers’ Compensation Commission, often referred to as MWCC. This agency plays an essential role in ensuring that workers’ comp is administered fairly and effectively throughout the state.

The MS Workers Compensation Commission is vested with several critical functions:

  • Regulatory authority: MWCC is responsible for enforcing and regulating Mississippi’s workers’ comp laws, including the rules governing employers’ obligations. This includes overseeing compliance with Mississippi workers compensation rules for employers, encompassing coverage for eligible employees.

  • Dispute resolution: The Commission acts as a mediator in resolving disputes that may arise between injured employees and their employers or insurance carriers. It ensures that disputes are handled impartially and that injured workers receive the benefits to which they are entitled under Mississippi workers comp law.

  • Information and education: MWCC provides valuable information to both employers and employees regarding their rights and responsibilities under the workers’ comp system. This includes guidance on navigating the claims process and understanding the intricacies of Mississippi workers compensation rules.

  • Adjudication: In cases where disputes escalate, MWCC conducts formal hearings to adjudicate claims. These hearings are designed to ensure that all parties involved receive a fair and equitable resolution.

  • Rulemaking: The Commission has the authority to establish and amend rules and regulations related to ms workers comp. This includes updates to Mississippi workers compensation rules for employers to reflect changing circumstances and legal requirements.

In essence, the Mississippi worker’s compensation commission plays a vital role in maintaining the integrity and effectiveness of the state’s workers’ comp system. It acts as a regulatory body, a mediator, an educator, and an adjudicator, all with the overarching goal of ensuring that injured workers receive the benefits they deserve while employers adhere to Mississippi workers comp law. This oversight is instrumental in promoting fairness, efficiency, and compliance within Mississippi’s workers’ compensation insurance framework.

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Which Businesses Are Exempt from Getting Workers Compensation Insurance Mississippi

In Mississippi, specific businesses may be exempt from the requirement of obtaining workers’ compensation insurance. It’s crucial to consult the state’s official workers’ comp resources to gain precise and up-to-date information on these exemptions. The Mississippi workers compensation website is a valuable resource for the most current and comprehensive details regarding exempted businesses.

Exemptions can vary, but typically they may include:

  • Agricultural employers: In some cases, agricultural employers, particularly those with a limited number of employees or specific types of agricultural work, may be exempt from mandatory workers’ comp coverage. 

  • Domestic employees: Similarly, domestic employees, such as nannies or housekeepers, may not always be required to have workers’ compensation coverage provided by their employers.

  • Small businesses: Businesses with fewer than five employees may also fall under an exemption, but the precise conditions can vary. It’s crucial for small businesses to review the current guidelines outlined by the Mississippi workers compensation laws.

  • Sole proprietors and partners: In some cases, sole proprietors and partners in businesses may have the option to exclude themselves from workers’ compensation coverage. However, this is often a voluntary choice, and the implications should be carefully considered.

  • Certain independent contractors: Independent contractors are typically not considered employees, and therefore, they may not require workers’ compensation coverage from the businesses that hire them. However, correctly classifying workers as independent contractors is critical to avoid misclassification issues.


How Much Money Does Mississippi Workers Compensation Insurance Give

Mississippi workers compensation insurance provides several types of benefits tailored to the circumstances of injured or ill workers. Here are the various categories of workers compensation benefits available:


Temporary Partial Disability Benefits

These benefits are designed for workers who can still work but at a reduced capacity due to their injury. The calculation involves determining the difference between their pre-injury average weekly wage (AWW) and their post-injury reduced wage.

Pre-Injury AWW: Let’s say an employee’s pre-injury average weekly wage is $600.

Post-Injury Wage: After the injury, they can only earn $400 per week due to reduced hours or work duties.

To calculate TPD benefits:

TPD Benefits = (Pre-Injury AWW – Post-Injury Wage) x 2/3

TPD Benefits = ($600 – $400) x 2/3 = $200 x 2/3 = $133.33 per week


Temporary Total Disability Benefits

TTD benefits apply when an employee is temporarily unable to work due to their injury. In Mississippi, these benefits are generally calculated at two-thirds (66.67%) of the worker’s average weekly wage.

Let’s consider the same pre-injury AWW of $600.

To calculate TTD benefits:

TTD Benefits = Pre-Injury AWW x 2/3

TTD Benefits = $600 x 2/3 = $400 per week


Permanent Partial Disability Benefits 

PPD Benefits come into play when an injury results in a permanent impairment but does not render the employee completely disabled. The calculation of PPD benefits involves a predetermined rate based on the type and extent of the injury.

The state of Mississippi provides a schedule outlining the number of weeks of benefits for specific injuries. For instance, if an employee loses the use of a thumb, they might be entitled to a specific number of weeks of benefits as per the schedule.

The exact calculation for PPD benefits depends on the nature of the injury and should be determined based on the Mississippi Workers Compensation Commission’s guidelines and the specific injury schedule provided by the state.


How Long Will an Employee Wait Before Receiving Benefits

Upon suffering a work-related injury or illness, employees in Mississippi should promptly report the incident to their employer, ideally on the very same day it occurs. This immediate reporting is crucial to kickstart the process of seeking ms workers compensation benefits.

Following the report, employers are responsible for notifying their workers’ compensation insurance carrier of the injury within about 10 days. This step initiates the formal claims process and ensures that the insurer is aware of the incident.

Once the insurance carrier receives the employer’s report, they typically have approximately 14 days to evaluate the claim. During this period, they may conduct investigations to assess the circumstances of the injury and review relevant medical documentation.

Within this two-week timeframe, the insurance carrier will make a determination regarding the eligibility of the claim. If the claim is approved, the injured employee can generally expect to start receiving benefits soon after the carrier’s decision, typically within a few days to a couple of weeks.

For ongoing benefits like TTD, which provide wage replacement for employees temporarily unable to work due to their injury, payments are typically made on a weekly basis. Consequently, employees can anticipate receiving their first TTD payment within approximately one to two weeks following the approval of their claim.


Penalties for Not Getting Workers Compensation Mississippi

In Mississippi, employers who fail to provide the required workers’ compensation insurance coverage may face penalties and legal consequences outlined in the state’s workers’ compensation law. The penalties for non-compliance with Mississippi workers compensation requirements are multifaceted and can have far-reaching consequences. Below are some of the consequences that you might face if you fail to comply with the Mississippi workers compensation laws:

  • Civil penalties: Non-compliant employers may find themselves subject to significant civil penalties. The Mississippi Workers’ Compensation Commission has the authority to impose these penalties, which are intended as financial consequences for failing to provide workers’ compensation insurance. The exact amount of the civil penalties can vary depending on the circumstances but can be substantial. These penalties strongly incentivize employers to adhere to the state’s workers’ comp laws.

  • Legal liability: Beyond the imposed civil penalties, non-compliant employers also open themselves up to legal liability. When an employee is injured on the job, and the employer lacks workers’ compensation insurance, the employer may be held personally responsible for covering the injured employee’s medical expenses and lost wages. This can result in significant financial burdens for the employer, potentially leading to legal disputes and court-ordered compensation to the injured worker.

  • Criminal penalties: In the most severe cases of non-compliance, employers may face criminal penalties. While these cases are relatively rare, they can lead to serious consequences. Criminal charges may result in fines and, in some instances, imprisonment for the employer. These penalties emphasize the gravity of failing to provide mandated workers’ compensation coverage.

  • Business reputation: Apart from the legal and financial consequences, non-compliance with workers’ compensation requirements can tarnish an employer’s reputation. Such cases can become public, affecting the perception of the business in the eyes of potential clients, partners, and employees. Maintaining a reputation for adhering to legal and ethical standards is crucial for long-term success.

  • Worker dissatisfaction: Non-compliance can also lead to worker dissatisfaction and low morale. Employees who are aware that their employer does not provide workers’ comp coverage may feel less secure in their workplace, leading to reduced productivity and loyalty.

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Mississippi Workers Compensation Insurance Costs

The average cost of workers’ compensation insurance in Mississippi is approximately $50  per month or $600 per year. When seeking a workers’ compensation insurance policy, it’s essential to assess costs from these multiple providers to find the most suitable coverage for your needs.

Company Monthly Cost Annual Cost Ideal For
NEXT $15 $146 Best overall; Fastest workers compensation insurance.
Thimble $40 $480 Businesses with fluctuating workforce needs seeking on-demand workers’ compensation coverage.
CoverWallet $45 $540 Comparing workers compensation insurance quotes online.
Tivly $55 $660 Comparing workers compensation insurance quotes over the phone.
Hiscox $60 $720 Businesses with international operations or those looking for global workers’ compensation coverage.
The Hartford $70 $840 Businesses looking for comprehensive coverage and added perks, especially those interested in risk management services.

Several factors can influence the cost of Mississippi workers compensation insurance. Understanding these factors is essential for businesses to assess their insurance needs accurately. Here are the key factors that can affect the cost of workers’ compensation insurance:

  • Industry and occupation: The type of industry your business operates in and the specific job roles within your organization can significantly impact insurance costs. Industries with higher risk factors for workplace injuries, such as construction or manufacturing, often have higher premiums compared to lower-risk sectors like office-based work.

  • Payroll and employee count: The size of your workforce and the total annual payroll expenses play a crucial role in determining workers’ compensation costs. Generally, higher payrolls and more employees result in higher premiums, as there’s a greater potential for injury claims.

  • Claims history: Your business’s claims history is a critical factor. If your company has a history of frequent and costly workers’ compensation claims, insurers may consider you a higher risk, leading to higher premiums. Conversely, a clean claims history can lead to lower costs.

  • Experience modification rate (EMR): The Experience Modification Rate is a numerical representation of your claims history and safety record. A high EMR can increase premiums, while a low EMR can result in lower costs. Improving workplace safety can positively impact your EMR.

  • Safety measures: Implementing effective safety measures and risk management practices can lead to lower insurance costs. Insurers often offer discounts to businesses with robust safety programs and fewer accidents.

  • Location: The geographical location of your business can affect costs. Certain areas may have higher insurance rates due to local regulations, demographics, and historical claim data.

  • Coverage limits: The amount of coverage you choose can impact costs. Higher coverage limits typically lead to higher premiums, but they provide greater protection in case of severe injuries or accidents.

  • Deductibles: The deductible you select for your workers’ compensation policy can influence costs. A higher deductible can result in lower premiums, but it also means your business will bear more of the initial costs in the event of a claim.

  • State regulations: Workers’ compensation regulations and laws vary by state. Mississippi has its own regulations that can affect costs. Understanding the specific requirements in your state is crucial for accurate pricing.

  • Choice of insurer: Different insurance carriers may offer varying rates for the same coverage. It’s essential to shop around and compare quotes from multiple insurers to find the best rate for your business.

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Best Mississippi Workers Compensation Insurance Companies

When choosing a reputable insurance provider in Mississippi, several factors require your consideration. It’s crucial to verify the company’s licensure to safeguard against potential fraud. Additionally, assessing the financial strength of the insurer is essential, as some may require greater financial resources to handle claims effectively. Continue reading to explore the advantages, disadvantages, ideal use cases, and Mississippi workers compensation insurance rates from the following respected insurance companies:


NEXT Insurance 

Pros

  • NEXT Insurance stands out for its comprehensive and fast workers’ compensation coverage.

  • They offer flexible policies tailored to the needs of various industries.

  • The online application and approval process is quick and convenient.

  • Competitive rates make it an attractive option for businesses of all sizes.

  • Purchase workers comp insurance 100% online. 

Cons

  • Couldn’t find any. 

NEXT is a top choice for businesses seeking efficient and customized workers compensation insurance. They excel in providing comprehensive coverage quickly, making it ideal for businesses that value speed and convenience. Whether you’re a small startup or a larger enterprise, NEXT Insurance offers competitive rates and tailored policies that meet the unique needs of your industry. Their user-friendly online platform simplifies the application process, ensuring you get the coverage you need without hassle.

Best for: Best overall; Fastest workers compensation insurance.

Average cost: $15 per month

Our rating: 9/10


The Hartford 

Pros

  • The Hartford is known for offering comprehensive workers’ compensation insurance policies.

  • They provide additional perks and benefits, such as risk management services.

  • Businesses can access a network of experienced agents for personalized guidance.

  • Strong financial stability ensures reliable coverage.

Cons

  • The application process may involve more paperwork and time compared to online-focused insurers.

The Hartford is a trusted name in the insurance industry, recognized for its comprehensive workers’ compensation insurance policies. They go beyond basic coverage by offering additional benefits like risk management services, which can help businesses improve workplace safety and reduce claims. Hartford’s network of experienced agents provides personalized support, making it an excellent choice for businesses seeking guidance throughout the insurance process.

Best for: Businesses looking for comprehensive coverage and added perks, especially those interested in risk management services.

Average cost: $70 per month

Our rating: 8/10


CoverWallet 

Pros

  • CoverWallet simplifies the process of comparing workers’ compensation insurance quotes online.

  • Their user-friendly platform allows for easy policy customization.

  • Businesses can access a wide range of insurance options in addition to workers’ comp.

  • Transparent pricing helps clients make informed decisions.

Cons

  • Some businesses may prefer working directly with insurers rather than through a broker.

CoverWallet is an excellent choice for businesses seeking a straightforward way to compare workers’ compensation insurance quotes online. Their platform is designed for user convenience, allowing you to customize policies and easily review pricing options. CoverWallet offers more than just workers’ comp, making it a one-stop shop for various insurance needs. Transparent pricing ensures that you can make well-informed decisions when selecting coverage.

Best for: Comparing workers compensation insurance quotes online. 

Average cost: $45 per month

Our rating: 9/10


Tivly 

Pros

  • Tivly specializes in providing workers’ compensation insurance quotes over the phone.

  • Their experienced agents offer personalized assistance and guidance.

  • Businesses can access a wide network of insurers for competitive rates.

  • Tivly’s focus on phone-based service ensures a human touch in the insurance process.

Cons

  • Availability and pricing may vary by location and industry.

Tivly stands out for its commitment to providing workers compensation insurance quotes over the phone, offering businesses a personal and consultative approach to insurance. Their experienced agents can guide you through the process, helping you understand your options and select the most suitable coverage. Tivly leverages a network of insurers, ensuring you receive competitive rates tailored to your needs. Call now and talk with a representative to compare workers comp insurance quotes over the phone. 

Best for: Comparing workers compensation insurance quotes over the phone.

Average cost: $55 per month

Our rating: 8/10


Thimble 

Pros

  • Thimble specializes in on-demand workers’ compensation coverage, offering flexibility to businesses with varying workforce needs.

  • Their user-friendly mobile app allows for quick policy adjustments and purchases.

  • Businesses can access coverage precisely when needed, minimizing costs.

  • Transparent pricing ensures clarity in insurance expenses.

Cons

  • Traditional businesses with consistent workforce sizes may not fully benefit from on-demand coverage.

Thimble stands out for its innovative on-demand workmans comp Mississippi coverage, providing businesses with flexibility and cost-efficiency. Their user-friendly mobile app allows for seamless policy adjustments and purchases, making it easy to obtain coverage precisely when needed. Thimble’s transparent pricing ensures businesses have clarity regarding their insurance expenses.

Best for: Businesses with fluctuating workforce needs seeking on-demand workers’ compensation coverage.

Average cost: $40 per month

Our rating: 9/10


Hiscox 

Pros

  • Hiscox offers global workers’ compensation coverage, making it suitable for businesses with international operations.

  • They have a strong financial foundation, ensuring reliability in coverage.

  • Hiscox provides a wide range of insurance solutions beyond workers’ comp.

Cons

  • Limited to certain states

Hiscox is an excellent choice for businesses with international operations or those seeking global workers compensation coverage. Their strong financial stability and comprehensive insurance solutions make them a reliable partner for businesses with diverse needs. Hiscox’s user-friendly online platform streamlines the insurance process, providing convenience and accessibility.

Best for: Businesses with international operations or those looking for global workers’ compensation coverage.

Average cost: $60 per month

Our rating: 8/10

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