New BusinessBENEFITS

A Quick-Start Guide to Workman’s Compensation


Do Business Owners Need Worker’s Compensation Insurance?

As a small business owner, you might be asking yourself, “Why do I need worker’s compensation insurance?” The answer is simple: It’s a legal requirement in most states. If you have one or more employees, you must have workmans comp. Period.

What is Workmans Comp?

Workers’ comp insurance (also known as workman’s comp insurance) provides benefits to employees and their families for work-related injuries and illnesses. Workmans comp insurance helps cover your employees’ medical bills and some, or all, of their lost wages if they suffer a work-related illness or injury. It’s a legal requirement in most states. Find out how you can help your business and your employees by getting a workmans comp insurance quote today.

Workmans compensation insurance can help protect your business and employees in events such as these:

  • An employee falls on ice, injures herself while walking up the stairs to the office, and requires a visit to the emergency room.
  • An employee injures his back lifting a box of office supplies and requires medical attention, medication and physical therapy.
  • An employee returning to the office from visiting a client at the lake is injured in a car accident and requires hospitalization for one week.

It’s important to note that workmans comp coverage is not a substitute for health or medical insurance, because it covers only work-related employee injuries or illnesses.

Workers’ compensation insurance rates and premiums can vary by state, and are based on many factors, including your industry, the number of employees you have, and your company’s safety record.

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How Workman's Comp Ins Protects Your Business

Good workmans comp insurance can be an affordable benefit that helps protect both you and your employees. Moreover, you can customize your policy by adding coverage as needed. The Hartford has programs designed to support companies, promote employee safety and help get your staff back to work as soon as reasonably possible; or if necessary, to other transitional work, and possibly training for new skills. If an employee can't return to work, the coverage may provide a long-term benefit. 

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How to Get Workmans Comp Insurance

Workers’ comp insurance policies are purchased through an insurance company, such as The Hartford. Despite the variability, all insurance companies base Workers’ Compensation premiums on the amount of payroll an employer has as well as how dangerous the work is.

On occasion, an employer may be deemed an excessive risk by insurance companies and fail to qualify for workers’ comp insurance. For these cases, some states have established their own assigned-risk programs with special funds that serve as insurers of last resort for companies that can’t get insurance on their own.

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