Workers’ compensation for small businesses, also known as workers’ comp or workman’s comp, gives your employees important benefits if they have a covered work-related injury or illness. It can help pay for:
- Medical care if your employees have a work-related injury, like carpal tunnel syndrome
- Lost wages when your employees need to take time off to recover from an injury or illness
- Disability benefits if your employee’s work-related injury leaves them fully or partially disabled
- Death benefits, such as funeral costs, if an employee dies from a work-related injury or illness
Keep in mind that most
state laws require employers with one or more employees to carry
workers’ compensation insurance. To find the right coverage for your business, it’s a good idea to compare quotes from small business workers’ compensation insurance companies. To get started,
get a fast and free quote from The Hartford today. In some instances, you may be able to save money by bundling your workers’ compensation coverage with other policies, like
general liability insurance.
Examples of Workers’ Compensation Claims
- “A stylist at our hair salon accidentally slipped and fell on spilled shampoo. She tried to catch herself but ended up spraining her wrist. She couldn’t work for almost a month while she healed. We filed a claim with our workers’ comp insurance provider, and it helped pay her medical bills and lost wages.”
- “An employee at our accounting firm had been working long hours during the busy season. Unfortunately, he started having pain in his wrist and arms. When he went to the doctor, he was diagnosed with carpal tunnel syndrome and needed to get treatment and physical therapy. We filed a claim with our workers’ comp coverage, and it covered his medical expenses because this was a work-related repetitive stress injury.”
Some industries may face a higher risk of workplace injuries or illnesses than others. Here are a few common industries where workers’ compensation coverage can help protect you and your employees if an accident happens on the job.
- Construction industry: Whether you install flooring or paint home interiors, construction contractors face risks on the job every day. You’ll need workers’ comp insurance if you or one of your employees is injured on the job.
- Restaurant industry: Restaurant staff often carry heavy trays, handle hot food or work with knives, so accidents can happen when you least expect it. If an employee has a work-related injury or illness, make sure they’re protected with workers’ compensation insurance.
- Healthcare industry: Medical providers like dentists work with equipment, needles and chemicals, while spending long hours bending their necks to treat patients. Our workers’ compensation insurance helps provide benefits to medical office staff, including a needlestick reimbursement program, if they’re injured or become ill on the job.
Once you’ve received multiple quotes for workers’ comp coverage, you’ll need to weigh your options to choose the best one for your business’ specific needs. Consider these key factors when choosing the best insurance provider:
- Your industry: Higher-risk industries typically need more specialized coverage, so it’s important to use an insurer who fully understands your work and the risks associated with it.
- Your business stage: Startup businesses might want to work with established insurance companies who have a reliable history of protecting small businesses. The right insurance provider will stay with you as you grow and can offer additional coverage solutions if your business changes.
- Bundling options: Many small business owners want to get all the coverage they need from one place. When choosing the best workers’ comp provider, see if you can bundle your workers’ compensation insurance with other essential business insurance coverages, like a Business Owner’s Policy (BOP).
- Ease of use: It’s a good idea to go with an insurance company that offers an easy-to-use digital platform to pay your premium, file and manage claims and get information from claims handlers in real time. When it comes to insurance, it’s best to go with a provider that helps keep it simple, so you can get back to business sooner.
