Workers insurance compensation is priced with the help of NCCI. There are approximately 750 workers insurance compensation codes and most states use the same codes but the pricing will vary by state. Workers insurance compensation premiums are calculated based on each $100 of payroll. For example, a low-risk occupation like clerical might cost .37 cents per $100 of payroll. Premiums rise as jobs become more of a risk, with contractors costing about $12 per $100 and even higher-risk occupations like roofers costing as much as $22.19 per $100. If your workers insurance compensation premium is in excess of $5,000, you should have a plan that pays you back a dividend based on your claims history. Our team of workers insurance compensation specialists will assist in determining what program will be best suited for your business.

Employers have a legal responsibility to their employees to make the workplace safe. However, accidents do happen even when every reasonable safety measures have been taken. In order to protect employers from lawsuits resulting from workplace accidents and to provide medical care and insurance compensation for lost income to employees hurt in workplace accidents, in almost every state, businesses are required to buy workers insurance compensation. Workers insurance compensation covers workers who are injured while on the job, whether they are hurt on the workplace premises or elsewhere, or even in auto accidents while on business. Insurance compensation also covers work-related illnesses.

Workers insurance compensation provides payments to injured workers, without regard to who was at fault in the accident, for time lost from work and for medical and rehabilitation services. Insurance compensation also provides death benefits to any surviving spouses and dependents. Each state has different laws governing the amount and duration of lost income benefits, the provision of medical and rehabilitation services and how the system is administered. For example, in most states there are regulations that cover whether the worker or employer can choose the doctor who treats the injuries and how disputes about benefits are resolved. Workers insurance compensation must be bought as a separate policy. Although in-home business and business owner's policies (BOPs) are sold as package policies, they do not include coverage for workers' injuries.