Workers' Compensation
Standard coverages and limits
Standard limits are commonly:
$1,000,000 Each Accident
$1,000,000 Disease – Policy Limit
$1,000,000 Disease – Each Employee
Employers Liability has separate dollar limits, typically $1M/$1M/$1M, although higher limits may be purchased
Workers’ Compensation itself generally has no stated dollar limit for statutory benefits
Annual premiums start from $500.00. Higher limits are available
Common Endorsements / Optional Coverages
Waiver of Subrogation
Stop-Gap Liability, where applicable
Experience Modification Factor (pricing factor, not a coverage limit)
Increased Employers Liability limits
Other States Insurance
Cost Factors & How Pricing Works
Business type and risk level
Location and state requirements
Claims history
Coverage limits
Who Needs General Liability Insurance?
Most businesses with employees are required to carry Workers’ Compensation insurance, depending on state law
Employers who hire subcontractors or independent contractors should verify their classification and insurance status, as they may have potential Workers’ Compensation exposure
Sole proprietors and owners without employees may not be required to carry coverage, but can often purchase it voluntarily for protection
Businesses with temporary or seasonal employees may also need Workers’ Compensation coverage
If you work with clients, customers, vendors, or public, this coverage is essential.