Get An Instant Workers Compensation Insurance Quote Online

by Sa El

April 6, 2024

What Is Workers Compensation Insurance?

Workers’ compensation insurance protects your staff if they are injured or become ill due to a work-related problem. It will pay out for medical expenses and lost wages of your injured workers. If the injury is severe, it will cover ongoing disability benefits (such as wage replacement) and medical treatment

Is Workers Compensation Insurance The Same As Workmans Comp Insurance?

Workers’ compensation is called workman’s comp, workman’s compensation, workman’s comp insurance or workers’ comp.  These phrases all refer to the same concept and help protect employees from the high costs of work-related injuries.

How Much Does Workers Comp Insurance Cost? 

Workers compensation cost about $58 per month on average. Our customers, however, have paid as little as $22 per month for their workers’ compensation policy!  The size of your payroll is primarily responsible for the cost of your workers’ compensation insurance; the more significant your payroll, the more you’ll pay.  

However, whatever you spend will be far less than what it would cost to be uninsured since the average workers’ compensation claim is approximately $40,000 per occurrence.

What Factors Determine Your Workers Compensation Insurance Cost?

Workers’ compensation insurance premiums are calculated by insurance companies using a variety of criteria. Some elements that might influence your workers’ compensation insurance premium include

  • State requirements
  • Number of employees
  • Type of work
  • Payroll
  • Risk exposure
  • Industry

You can use this formula to estimate your workers’ comp cost: 

Workers’ Classification Code Rate XExperience Modification NumberX (Payroll/$100)= Premium

The rate at which your company is classified depends on the National Council on Compensation Insurance (NCCI) or your state’s rating agency. It is based on the sort of work done by your staff. The NCCI also calculates your experience modification number based on how many workers’ compensation claims you have compared to similar companies.

How Much Workers Compensation Coverage Do You Need?

As stated above, the amount of workers comp coverage you need will be determined by how many employees you have, what type of work they do, and your industry.

What Does Workers Comp Insurance Cover?

Workers’ comp insurance covers benefits for workers who get harmed or sick at work. It includes ambulance transportation, medicine, physical therapy, disability payments, missed wages replacement, and death benefits. Workers’ compensation also lowers your risk of being held liable for workplace injuries and illnesses. 

We’ll go into further detail about each one of these topics:

Medical Expenses

Workers’ compensation insurance covers the cost of immediate care, such as an ambulance ride or a visit to the emergency department, in the event of an accident at work. It also aids in payment for surgical procedures, medications, hospital admissions, and other medical expenses.

Missed wages during recovery

An accident that could keep someone from returning to work for days, weeks, or even months may occur. Workers’ compensation frequently covers a percentage of the wages lost while an employee recuperates from workplace harm or sickness.

Lawsuits related to work injuries

Employer’s liability insurance is usually included in workers’ compensation coverage. This policy protects the employer from a lawsuit alleging that the company was negligent and caused a worker’s injuries. If an employee sues, it can assist with attorney’s fees and other litigation expenses such as:

  • Attorney’s fees
  • Court costs
  • Settlements or judgments

Ongoing Care

Many work-related problems and illnesses can be pretty unpleasant, leading to multiple treatments. Workers’ compensation insurance may cover the cost of ongoing care if, for example, your employee strains their back while lifting something heavy.

Funeral Costs

Workers’ compensation insurance can assist with burial expenses and death benefits for your staff’s beneficiaries in the unfortunate scenario that one of your workers dies on the job.


Working conditions may also expose your staff to hazardous chemicals or allergens that cause illness. Workers’ compensation insurance can assist with medical treatment and ongoing care costs if a work-related incident or condition causes sickness in one of your employees.

Repetitive Injury

Work-related injuries do not always result from a single traumatic incident. Carpal tunnel syndrome, for example, might take months or years to develop. Workers’ compensation can help pay for treatment costs and ongoing care charges if your receptionist develops carpal tunnel after years of typing with bad ergonomics. 


Some injuries may be severe enough to keep your employee from working for a while or permanently. Workers’ compensation insurance can help cover your disabled workers’ medical expenses and pay them missed income.


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What Is Not Included In Workers Comp Coverage?

Workers’ compensation insurance does not cover injuries caused by intoxication or drugs, claims made after being fired or laid off, company policy violations, wages for a replacement employee, independent contractor injuries, or OSHA fines.

Does Workers Comp Cover The Business Owner?

Workers’ compensation insurance does not cover injuries caused by intoxication or drugs, claims made after being fired or laid off, company policy violations, wages for a replacement employee, independent contractor injuries, or OSHA fines.

Is Workers Comp Required? 

Workers’ compensation coverage is almost always required by law if your small business hires people. It’s not a laughing matter when someone is sick or injured, and neither are medical care and rehabilitation expenses. It is required by law almost everywhere in the United States. Most states demand that you obtain workers’ compensation insurance as soon as you hire your first employee. The rules surrounding workers’ comp differ from state to state.

Who Needs Workers Compensation Insurance?

Almost every company is required to carry workers compensation insurance for all personnel (including family members, part-time and full-time employees, and leased employees). You might need a workers comp policy if:

You’re a small firm owner or single proprietor without employees or independent contractors.

If you are a sole proprietor or an independent contractor who does not have employees, you probably won’t need worker’s compensation insurance. However, you may be required to complete a sole proprietor workers’ compensation exemption form, which must be notarized and paid. You should—as always—check your state’s rules. Please look up the Department of Labor’s directory of state workers’ compensation insurance agencies for more guidance.

A business requires you to have a workers’ comp plan.

If you don’t have your own workers’ compensation insurance, certain businesses will not take you as a contractor. It makes no sense for them to hire an uninsured contractor since if something happens to you, they’ll have to pay out of pocket and could be sued. If you want to contract with a business, they are legally permitted to demand that you provide them with a certificate of insurance.

You want to be covered.

You might choose to acquire workers’ compensation coverage for yourself whether you are a single proprietor or a small company owner working alone, simply because it makes sense, especially if your work entails dangerous activities such as construction. However, regardless of your profession, having a workers comp policy will help you in the long run.

You use independent contractors.

You may be obligated to obtain workers’ compensation coverage if you hire an independent contractor, subcontractor, or leased employee to do work for you part-time (again, check with your state’s regulations). Keep in mind that if you don’t have to get it and choose not to, you’ll be held responsible for workplace injuries. Having insurance for yourself and anyone who works for you is the best practice.

How To Buy Workers’ Compensation Insurance Online?

Buying workers’ compensation insurance online has never been easier; whether you are getting insurance on your new business or looking for lower rates, you can get quotes and coverage in minutes.

Believe it or not, it’s only a few steps to go from quotes to being covered:

Gather Your Info – You will want to have information about your business “in hand” so that you can get the most accurate quote—things like the number of employees and the size of your payroll.

Get An Instant Quote – It’s time to get a fast quote. Most companies will show you a “Good, Better, Best” layout with the ability to customize your policy.

Choose Your Policy Options – After reviewing the quotes, you should look over the coverage amount and policy deductibles to make sure you have the options you need for your policy. 

Complete Your Application Online – Once you have viewed your quotes and picked out your policy options, it’s time to complete your workers comp app. You can usually do this in one sitting.

Pay For The Policy (You’re Covered). Upon submitting your application, your next step will be to pay for your policy so that it goes “in force,” and then You’re covered!  


Workers comp insurance by state.

Great businesses carry great responsibilities – keep yours safe with a Business Insurance Policy.

Business insurance policies protect you against lawsuits, employee injuries, cybersecurity attacks, and property damage. Click on your state to get a free quote today.

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Why Trust Simply Insurance?

We make things simple. At Simply Insurance, you get to compare only the top online workers compensation insurance companies. We’ve done all the hard work and picked out the top companies so that you don’t have to go through all of the top insurance companies in the nation… I mean, no one really has time for that. 

Years of licensed experience. As licensed agents, we help our customers navigate the entire insurance buying process. We don’t work on commission and can answer any questions you may have in regards to your insurance policy.

Keeping it in “Plain English.” We pride ourselves on creating content that is easy to understand and that doesn’t have a ton of “insurance-ese”. Insurance education is essential to us and we put our customers needs first. 

Taking Action

You need worker’s compensation insurance if you have employees. It is important to protect your business and the people who work for you so that no one has a problem with their wages, salary or any other benefits because of an accident they may have on the job. There are many options available when it comes to purchasing this coverage which makes shopping easier than ever before. Click here to get started now!

Frequently Asked Questions

Does a sole proprietor need workers’ compensation?

A sole proprietorship does not need workers’ compensation insurance, but it may be advantageous to get it. If you are hurt at work, a workers’ comp policy from your state can help cover medical costs and replacement income while you recuperate.

Are contractors and volunteers covered under workers’ comp?

Depending on where you conduct your business, you may have to provide workers’ comp to your independent contractors. Each state has its own laws regarding workers’ comp. If the state laws require employees and contractors to have workers’ comp, you’ll have to provide coverage. Since volunteers are not considered employees in most states. By most insurers, they are typically not covered under workers’ comp.

Do 1099 Employees Need Workers’ Compensation Insurance?

It depends! If you reside in a state where 1099 contractors are required to have coverage, then Yes, you will need workers comp for them. Even if your state says the insurance isn’t necessary. It’s a good idea to include them in your policy. Adding them to your policy helps protect your company better.

Do I Need Workers Comp insurance if I am self-employed?

That all depends on your location and other variables, but a typical guideline is that if you ever use people to operate your small business (even if only part-time), you’ll almost certainly require workers’ comp insurance.

About the author 

Sa El