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What does workers' compensation cover?
Workers' compensation insurance covers employees who become sick or injured at work. Benefits typically include:
- Medical Expenses: This coverage can help pay for related doctor visits, hospital stays, surgeries, medications, and other treatments.
- Lost Wages: If an employee can't work due to their injury or illness, it can cover a portion of their regular wages.
- Rehabilitation Costs: It can cover physical therapy, occupational therapy, or other forms of rehab that the employee needs to recover.
- Disability Benefits: Workers' compensation coverage may pay short- or long-term benefits if a work-related injury disables an employee. However, this payment is subject to the policy contract.
- Death Benefits: If an employee dies because of a work-related injury or illness, workers' comp coverage can help the employee's dependents with funeral expenses and other forms of financial support.
Coverage details can vary based on your location and other factors. Speak to an insurance professional or review your policy to understand the exact business and employee protections you get when you purchase workers' comp insurance.
How does workers' compensation insurance work?
Each state has its own set of workers' compensation laws that employers must follow. These regulations ensure that employers cover work-related injuries or occupational diseases, no matter who is responsible.
An employee can only receive benefits if their injury or illness relates to their job duties or employment. For example, workers' comp insurance could cover injuries caused by lifting heavy equipment, slipping on a wet or oily surface, or sustaining injury due to fires or explosions.
If an employee becomes injured outside the scope of their employment, such as playing football with friends on a day off, workers' compensation insurance won't cover them.
Who needs workers' compensation insurance?
Workers' compensation insurance is required in almost every state, but the guidelines depend on where you live, what you do, and how many employees you have. Check state and local laws to see if you need coverage.
Businesses that are supposed to have workers' comp coverage can get in trouble for not having it. They can face lawsuits about workplace injuries and even be fined for breaking the law. You can protect your business from these risks by getting a workers' compensation policy.
Learn more about who needs workers' compensation insurance.
Benefits of workers' compensation insurance for employers
In addition to supporting employees, workers' comp insurance protects your small business. For example, if your insurance is compliant with state law, an employee who receives benefits typically can't sue you for their injuries or lost wages.
That said, there are some lawsuits that workers' comp can't prevent, including claims involving acts of vicarious liability. In these cases, your workers' compensation policy can help pay for court costs and legal fees.
How much does workers' compensation insurance cost?
In 2024, the national median cost of workers' compensation insurance through Progressive was $80 per month. The average monthly price was $125.
A lower median cost suggests that most policyholders spent less than the average premium. Your rate will depend on specific qualities of your business, including your profession, state, payroll, and claims history.
The best way to discover your workers' comp cost is to get a workers' compensation insurance quote.
How to get workers' comp insurance through Progressive
To purchase workers' compensation insurance, follow these basic steps:
Understand workers' compensation requirements in your state
Each state has specific rules for workers' compensation. Sometimes these regulations affect how you get your policy. For example, monopolistic states like Ohio, North Dakota, Washington, or Wyoming require business owners to buy workers' comp insurance directly through their state fund.
Explore workers' compensation insurance by state to learn more about the laws where you live.
Gather information about your business
You'll need to include details about your business when getting a workers' comp quote. You can prepare by listing your location, payroll, claims history, number of employees, and the nature of your work.
Get a free workers' compensation quote from Progressive
Call us or start a quote online to get the workers' comp protection your small business needs. After you provide your information, we'll review coverage options and costs.
