Protect Your Employees & Your Business
Workers Compensation Insurance
Essential Coverage For a Safe, Productive Workplace
Workers’ Compensation Insurance helps cover medical expenses and lost wages for business owners if an employee is injured or becomes sick. It can include rehabilitation services and death benefits too.
Employers are required to provide coverage in most states. Ohio is among a handful of states that use a government-managed program, but our agency still offers workers’ compensation insurance to our clients in other areas.
Workers Compensation Insurance FAQ
Workers’ Compensation Insurance covers costs related to workplace injuries and illnesses, which can escalate quickly due to the high cost of medical care. You can also rely on workers’ comp if you or an employee needs medical treatment or time off due to a workplace injury – or if an injured employee sues you for failing to prevent an accident.
Workers’ Compensation Insurance gives employees medical, wage and other financial benefits if they are injured or become ill on the job. Without insurance, the employer could be responsible for all related costs, which could quickly add up to tens of thousands of dollars.
Workers’ comp is not just for high-risk jobs. Repetitive-motion injuries (like carpal tunnel syndrome), slip-and-fall accidents and strains can happen at relatively safe businesses.
- Cover medical care and medical treatment
- Replace most of their lost wages if they take time off from work to recover
- Provide disability benefits
- Give death benefits, like helping pay for a funeral if they lose their life in a work accident or from a job-related illness
Several factors are used to determine the cost of workers’ compensation insurance, including:
- The number of employees at your business
- Your payroll
- Location of your business
- Your business operations
- The job functions of your employess
- Claims history
Business owners in most states are legally required to have workers’ compensation coverage if they have employees. In most states, you are required to provide workers’ comp coverage after hiring your first employee. Other states don’t mandate coverage until a business has two, three, four, or more employees.
Most states allow business owners to buy workers’ compensation insurance from private insurers or use self-insurance plans. North Dakota, Ohio, Washington, and Wyoming require employers to purchase workers’ comp insurance through a state fund.
Texas and South Dakota are the only states where business owners are not required to purchase workers’ compensation insurance coverage.
Typically, no, because subcontractors are not your employees. However, in some states, subcontractors may be classified as your employees if they don’t carry their own workers compensation.
Workers’ compensation is regulated by each state, and there are subtle differences. Our team can help you understand what coverage is right for your business.