How much is workers’ compensation insurance?

Premiums will change based on the level of insurance limits purchased and your type of business. Other factors include but are not limited to the location of the business, the number of employees, your total wages, elections to be excluded, your claims history, state regulations governing workers’ compensation and the specific roles and risks related to the type of employees covered.  

• Medical expenses: Covers the cost of medical treatment for injuries or illnesses that occur as a result of employment or while performing their job, including doctor visits, ER visits, hospital stays, surgeries, medications, and rehabilitation.
• Lost wages: Provides a portion of an employee’s regular wages if they are unable to work due to a workplace injury or illness, workers’ compensation can provide a portion of their lost wages during the recovery period.
• Rehabilitation Costs: Covers cost of physical therapy, occupational therapy or other forms of rehabilitation needed for recovery and return to work.

• Disability benefits: May provide short-term or long-term disability benefits in cases where an employee is left with a temporary or permanent disability, workers’ compensation offers financial assistance to help compensate for the reduced ability to earn an income.
• Death benefits: Provides financial support to the to the dependents of an employee who dies as a result of a workplace injury or illness, including covering funeral expenses. 
• Employer liability: While workers’ compensation generally shields employers from lawsuits related to workplace injuries, the employer’s liability portion of the policy covers costs if an employer is found liable for injuries beyond standard coverage. This may include bodily injury or illness resulting from the work environment.