Workers’ comp is an important type of business insurance to have. If your employees get a work-related injury or illness, this insurance gives them benefits to help them recover and return to their job.
It’s important to know the difference between workers’ compensation vs. health insurance. Some small business owners mistakenly believe their general liability insurance (GLI) or health insurance covers workers’ comp claims. Your GLI policy helps you with claims your business hurt somebody or damaged someone else’s property. And because your employee got hurt or sick from their job, their health insurance policy won’t provide coverage.
Are you wondering how to get workers’ comp insurance? It’s easy to get workers’ comp insurance online. You can also get in touch with an insurance agent or broker who can help.
Before you buy, you’ll want to know how much coverage you need. Many factors can affect your coverage levels and your workers’ compensation insurance cost, including:
In most states, workers’ compensation insurance is required. It’s a good idea to check your state workers’ compensation laws because they vary across the country. Each state determines what kinds of businesses need to carry coverage and describes where you can get workers’ comp. Depending on your state, you can get this insurance from:
Private workers’ compensation insurance companies: States regulate private insurers, but these companies set their own prices and approve or reject customers. You may get better rates and customer service with a private company compared to a state offering.
State-funded workers’ compensation insurance: If you can’t get coverage from a private carrier, state fund for workers’ compensation can help ensure your employees have coverage.
Competitive state-funded workers’ comp: This means your state offers coverage from a private carrier and a state program. Your state competes with private insurers for customers.
Monopolistic state-funded workers’ comp: Businesses in North Dakota, Ohio, Washington or Wyoming have to get coverage through their state-funded program.
Not all insurance companies offer workers’ compensation insurance directly to business owners. We understand time is valuable, so we give business owners three ways to buy workers’ comp insurance:
If you decide to get insurance through an agent or broker, you have the benefit of working with someone face-to-face. An agent or broker can help you better understand what coverages you may need for your business.
Getting a workers’ comp quote online means you can get coverage from the comfort of your home, at your own pace.
Both agents and brokers sell insurance. The difference between them is that an agent sells policies from different insurance companies they work for, while an insurance broker represents their buyers. They ask for insurance quotes from different insurers on your behalf. Brokers also select coverages and limits for you, as well as submit applications to insurance companies to find the best policy.
Direct policy writers are also known as captive agents. This means they work for only one insurance company and sell their products.
With different state laws and other factors to keep in mind, getting the best workers’ compensation insurance for your business can be challenging. That’s why it’s important to work with an experienced insurance company.
Businesses have trusted us for their workers’ comp needs for over 100 years. We created our workers’ comp program to separate us from the rest, and we’re here to help protect your business. Our workers’ compensation insurance claims specialists consistently get top scores for customer satisfaction.* We also offer flexible billing solutions for business owners.
Get a workers’ comp quote today and learn how we can help propel you and your business forward.© 2024 The Hartford
The Hartford shall not be liable for any damages in connection with the use of any information provided on this page. Please consult with your insurance agent/broker or insurance company to determine specific coverage needs as this information is intended to be educational in nature.
The information contained on this page should not be construed as specific legal, HR, financial, or insurance advice and is not a guarantee of coverage. In the event of a loss or claim, coverage determinations will be subject to the policy language, and any potential claim payment will be determined following a claim investigation.
Certain coverages vary by state and may not be available to all businesses. All Hartford coverages and services described on this page may be offered by one or more of the property and casualty insurance company subsidiaries of The Hartford Financial Services Group, Inc. listed in the Legal Notice.
The Hartford Financial Services Group, Inc., (NYSE: HIG) operates through its subsidiaries under the brand name, The Hartford, and is headquartered in Hartford, CT. For additional details, please read The Hartford’s Legal Notice.
* Customer reviews are collected and tabulated by The Hartford and not representative of all customers.
