Wondering where you can get workers’ comp insurance? Your options for getting this type of insurance coverage—which is designed to protect your business and your employees if one of your team members is injured at work—vary based on factors like your company’s physical location, your personal preferences, and the size of your workforce. Here are a few questions to help you determine where you can get a workers’ comp insurance policy that fits your needs.
What are the workers’ comp insurance options within your state?
First, visit the workers’ compensation board for your state to learn about your options. Each state has a different system.
In a few states (North Dakota, Ohio, Washington, and Wyoming), your only option is to get workers’ comp insurance from a state-funded program.
In other states, including California, New York, and Texas, you may purchase workers’ compensation coverage from private insurance providers as well as from the state-funded program.
Many states offer self-funded insurance, this means that as the business owner, you would assume full risk and pay out of pocket for any workplace injuries. To be self-insured, however, you must submit an application, meet certain financial thresholds, and be approved by your state workers’ compensation board.
What are your personal preferences for getting workers’ compensation insurance?
Next, consider how you like to do business. Before selecting a workers’ compensation insurance provider, consider your answers to these questions:
Would you rather get a quote online, connect over the phone, or visit a physical location?
Do you prefer a company catered for small businesses or one that insures larger companies as well?
What is most important to you: competitive pricing, customer service, insurance rating?
Would you rather have an expert walk you through the process or do you prefer to do the research yourself?
Where can you start looking for workers’ comp insurance?
Simplify your search for the best workers’ compensation insurance provider for your small business by starting with a quick quote from Pie Insurance. Or, if you are interested in learning more about workers’ compensation in general, see our Workers Comp 101 resources.
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.