How to buy workers’ compensation insurance online
Many small business owners hold off buying a workers’ comp policy online. But don’t wait until it’s too late. After all, accidents happen—but employers are expected to pay the resulting expenses when they occur at work. If your small business had to pay for all work-related injuries out of pocket, it could cost tens of thousands of dollars for medical bills, replacement wages, and reduced productivity.
Fortunately, that’s where workers’ compensation insurance shines. Workers’ comp insurance coverage pays for on-the-job mishaps, so your business doesn’t have to. The easiest way to get workers comp insurance online is with Huckleberry. Get an instant quote on affordable coverage.
What is workers' comp insurance?
Business owners buy workers' compensation insurance to protect their organization. It’s an insurance product that covers costs if an employee becomes injured or sick on the job.
Workers’ compensation insurance covers medical expenses, rehabilitation, employee income, and death benefits (in severe cases) for workplace injuries. It can pay for lost wages and protect you from lawsuits—employees who accept workman's compensation benefits generally waive their right to sue the employer for negligence as a condition of coverage.
Who should buy workers' compensation insurance?
Small business owners, even sole proprietorships, may hesitate to buy workers' comp insurance. Many people think that workers' compensation insurance is only for very large companies, but it's not.
Workers’ compensation is typically required in all states for employers with one or more employees. This includes the self-employed independent contractors with employees, partnerships with employees, LLCs with employees, corporations with employees, and more.
The requirement to carry a workers’ compensation insurance policy doesn't change if you're a small business owner or not. It only changes the number of employees that are covered under your policy. However, your state may not require you to purchase workers' comp insurance until you reach a specific number of employees.
Cost of workers' compensation insurance
Several factors make up your company’s workers' compensation insurance cost. First, the coverage requirements are regulated on the state level, so your state may have more or less stringent policies.
Second, your annual payroll, type of work, and industry factor into the premium cost. For example, a construction company will pay more for workers' comp than an accounting firm because the nature of the work is riskier.
Finally, if your company has a history of frequent or expensive workers' comp claims, your rate may be higher than other businesses.
For small business owners, workers' compensation coverage costs significantly less than larger businesses because your payroll is limited. If your business is a low-risk operation, like data entry or sales, you can save even more on your workers’ comp cost.
On average, businesses that work with Huckleberry pay an average of $1,123 per year for workman's comp. However, some customers have paid as little as $271 for the year. Regardless, it is far less expensive than being uninsured since the average claim is $42,008.
In minutes, you can receive a workers’ comp insurance quote online in your state with our workers' compensation calculator.
Workers’ comp claims can affect your business
Workers' compensation claims can impact your business as well as your employees.
Initially, your premiums may increase due to a claim. But you can also lose out on the work productivity of the injured employee, as well as any demoralizing effects it had on coworkers. You may have to pay more overtime wages to compensate for the lost work.
Next, you may be liable to pay additional wages to the employee or fees if your business violated their work safety rights.
Finally, recruiting, training, and hiring new employees can add up quickly if you must replace the injured employee.
Who is eligible for workers' comp coverage?
Any employee who works for your business—from your first employee to your last—is eligible for workers’ compensation insurance. However, a worker’s comp claim must meet 4 eligibility requirements:
- Be an employee
- The employer must have workers’ comp insurance
- Injury or illness must be work-related
- Must fulfill state requirements for reporting an incident and filing a claim
Domestic, farm, seasonal, and temp agency workers may have different rules. If you aren’t sure, check with your insurance company or insurance agency to identify exclusions in coverage for different types of businesses.
How to get workers' compensation insurance online
If you are ready to get workers' comp coverage for your small business, here’s how.
Start by getting an online quote for coverage. Many employers buy a workers' compensation policy online from a private insurer. However, North Dakota, Ohio, Washington, and Wyoming companies must set up workers' comp through state-run funds instead of private companies. Keep in mind that state-fund coverage doesn’t typically include employer’s liability insurance, so you may need to purchase additional coverage to fill the gap.
Fortunately, Huckleberry helps you get a great workers’ comp rate for coverage. Getting a workers' comp insurance quote online has never been so simple. Just fill in some information about your business, and you can get a quote and print your certificate of insurance in an instant.
Get an online workers’ comp insurance quote now.
Getting workers’ comp insurance online is easy
Workers’ comp is one of the best tools you can have to safeguard your business from significant financial losses due to legitimate and fraudulent on-the-job injuries or illnesses.
Even if you’re running your company on your own, you probably will need workers’ comp insurance to protect your business and comply with your state’s labor laws at some point. Buying worker’s comp insurance online is the easiest and fastest way to get a policy in force for your business.
When you buy online with Huckleberry, you can have a policy issued immediately because our coverage is instant. Online worker’s comp insurance also makes it more straightforward to manage your policy. There is no paperwork to sign, no bills to mail—everything is digital and easy to navigate.
At Huckleberry, we’re passionate about helping small businesses succeed. We’re experts in small business insurance, and we’re here to make it simple. It only takes a few minutes to get a quote for online workers’ comp insurance, so give it a try!