Workers Compensation Insurance
Workers' Compensation Insurance covers the costs of employee injuries that occur while working for your company.
What is Workers Compensation Insurance?
Workers' Compensation Insurance is an indispensable policy for many businesses. It provides benefits to employees suffering from work-related injuries, covering medical bills, lost wages, rehabilitation costs, and even death benefits in case of fatalities.
Why You Need It
1
To Provide A Certificate Of Workers' Compensation Insurance
Businesses often purchase workers' compensation insurance to produce a certificate of insurance (COI) for a customer, supplier, or financial institution. This document serves as proof that the company is insured to cover any workplace injuries or illnesses.
2
To Comply With State Or Federal Regulations
Government mandates require certain businesses to have workers' compensation insurance. Regulations vary by state and industry, but typically, businesses with employees need this insurance to remain legally compliant.
3
To Protect The Business From Major Financial Burdens
A significant workplace accident can lead to enormous costs. Workers' compensation insurance protects businesses from potentially devastating financial burdens resulting from employee injuries or illnesses.
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What Workers Compensation Insurance Covers
Injured Worker's Medical Bills
Covers the medical expenses of an employee injured on the job, including emergency services, hospital stays, medication, and therapy.
Disability Pay
Provides disability payments for employees temporarily or permanently disabled due to a work-related injury, replacing a portion of their usual income.
Death Benefits
Offers death benefits to the dependents of an employee who succumbs to a work-related injury or illness, assisting with funeral costs and financial support.
Injury-related Lawsuits
Covers legal costs and any awarded damages in cases where an employee or their family sues the company due to a work-related injury.
Rehabilitation Expenses
Takes care of the costs for physical and vocational rehabilitation required due to a work-related injury or illness.
What Workers Compensation Insurance Doesn't Cover
Not Covered
Non-work Related Injuries
Doesn't cover injuries employees sustain outside of their job duties or the workplace.
Not Covered
Self-Inflicted Injuries
Excludes self-inflicted injuries, whether intentional or due to an employee's recklessness or violation of safety protocols.
Not Covered
Injuries from Intoxication
Won't cover costs if an employee's injury results from intoxication by alcohol or illegal drugs.
Not Covered
Owner Injuries (If Not Opted In)
Business owners aren't automatically covered. They must opt in to include their own injuries sustained on the job.
Reasons To Have Workers Compensation Insurance Coverage
Workers Compensation Insurance is a must have for businesses that need:
To Provide A Certificate Of Workers' Compensation Insurance
Businesses often purchase workers' compensation insurance to produce a certificate of insurance (COI) for a customer, supplier, or financial institution. This document serves as proof that the company is insured to cover any workplace injuries or illnesses.
To Comply With State Or Federal Regulations
Government mandates require certain businesses to have workers' compensation insurance. Regulations vary by state and industry, but typically, businesses with employees need this insurance to remain legally compliant.
To Protect The Business From Major Financial Burdens
A significant workplace accident can lead to enormous costs. Workers' compensation insurance protects businesses from potentially devastating financial burdens resulting from employee injuries or illnesses.
What Does Workers Compensation Insurance Coverage Cost?
Costs can vary based on your location and the specific type of work you perform. Here are some examples of workers compensation quotes:
| Woodworking | Parking Lot Operator | Powersports Dealer | |
|---|---|---|---|
| State | NH | MO | OK |
| Total Payroll | $600,000 | $75,000 | $1,000,000 |
| Employers Liability Limit | $1m / $1m / $1m | $1m / $1m / $1m | $1m / $1m / $1m |
| Experience Mod | .81 | NA | .75 |
| Annual Premium | $11,072 | $1,800 | $24,310 |
Frequently Asked Questions
What Our Customers Are Saying
I’ve worked with Austin at LandesBlosch. He is upfront and honest, active in the community, and helpful even beyond basic insurance. I’d recommend LB to anyone.
Colton J.
I have been with Guy Landes and the LandesBlosch agency for almost 20 years. Guy Landes and his staff have been there for me and my entire family through several claims as well as guiding us successfully to ensure our family’s ever changing and growing business. Whether you are looking for personal or commercial insurance, you cannot find a more devoted and competitively priced group than the LandesBlosch Group!
Mike S.
Buying insurance can be a daunting task because of the complexity of each policy. LandesBlosch has been a game changer for my business. They held my hand through all the different options that my businesses may or may not needs to make sure I'm not underinsured. This reduces my personal stress and my business liability.
Dalton P.
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