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Workers’ Compensation Insurance


workers compensation insuranceWorkers’ Compensation Insurance, commonly known as Workers’ Comp, is insurance that covers medical expenses and a portion of lost wages for employees who are injured or suffer an illness related to their job duties or employment. Workers’ Comp is required by law in almost every state. Some worker exemptions may exist; check to find out if coverage is mandatory for your business.

Important considerations

  • Check rates for your business; they are based on various factors including the state your business is located in, your payroll, and your claim history.
  • If your WC plan complies with state law, an employee who is injured can’t sue for an injury or lost wages but they can bring a suit for things that are not covered under workers’ comp. It is important to have employers’ liability coverage.
  • Do you hire household employees? Check for your need for workers’ comp.
  • Do you have a hired crew for your boat? If yes, you are required by law to have workers’ compensation insurance for this workplace situation.

Note:  Many companies do offer credits/discounts for multi-policy accounts.  It’s important to obtain quotes for all your insurance needs at the same time to make sure you’re getting the best value across your entire insurance portfolio.

Let us prepare a free quote for you here.

The above is meant as general information only to help you understand various insurance coverages. For detailed explanations and contract information. we encourage you to contact one of our professional counselors. Thank you.