Getting a workers’ compensation insurance quote is not as challenging as you might imagine. With a bit of preparation, you’ll be able to easily obtain a quote for your business.
To get a workers’ comp insurance quote, you’ll need the following information:
Name and description of your business
Federal employer identification number (FEIN) or social security number (SSN)
Business structure such as limited liability company (LLC), corporation, or partnership
Desired start date of coverage
Location of your business
Number of location(s)
Number of employees
Annual payroll based on location and job type
Workers’ comp claims history (also called loss experience)
How can I get workers’ comp insurance?
Depending on your state, you can get workers’ comp insurance through private insurance providers or through state-funded programs. If you obtain workers’ comp from a private insurance carrier, you can choose to go directly to an insurance company or through an insurance agent or broker.
Finding a workers’ comp insurance provider that offers a quote online can streamline the process, saving you time and money. Further, if you have a small business, consider working with a company that specializes in small businesses. That way, you won’t be sharing the volume of risk that larger companies can carry.
What are the next steps after I request a workers’ comp quote?
After you request a workers’ comp quote, you’ll be contacted by the insurance provider through email or phone for any followup information. Next, the insurance provider will send your workers’ comp application to the underwriter. Then, you will receive your workers’ comp policy quote and can sign to get a workers’ comp policy and will have coverage for your team.
Thanks for reading! Please note that this content is intended for educational purposes only. As laws change regularly, you should refer to your state legislation and/or an advisor for specific legal counsel. If you’re a small business owner, learn more about workers’ compensation insurance or check your current rate in 3 minutes.