Workers Compensation Coverage

Request A Quote
Getting a free insurance quote is fast and easy
/
Business Insurance
/
Workers Compensation Coverage

At Stampede Insurance Services, we know that having a protected workplace gives you extra security and peace of mind. As a California employer, you have an obligation to ensure a safe workplace for your employees, and that’s where workers’ compensation insurance comes in.

The law requires businesses to have this type of insurance coverage to protect employees from unpredictable occurrences that may lead to injuries or hospitalization.

Stampede Insurance Services offers access to many different programs across a variety of industries in California, to customize a package that fits your needs and industry type. We take a proactive approach to our clients’ workers’ compensation challenges. We’ll work to reduce your insurance costs, thereby saving you money this year and in the years to come.

Workers Compensation Insurance Overview

Workers’ compensation insurance covers medical costs and lost wages for work-related injuries and illnesses. This policy is required in almost every state for businesses that have employees.

Our network of companies and experienced agents at Stampede Insurance can analyze your business needs. By contacting us today, we can assist and guide you through these complicated steps.

Benefits:

  • Reduced injuries and losses
  • Reduced medical and disability costs
  • Reduced policy adjustments
  • Reduced premium costs

Workers Compensation Insurance For Small Business

The answer depends. However, for most businesses in the United States, workers’ compensation insurance isn’t optional.

Even when not required by law, this policy protects against medical expenses and employee lawsuits related to workplace injuries. While workers’ comp laws vary by state, small businesses typically need a policy in place as soon as they hire their first employee.

This type of coverage offers peace of mind as you can rely on workers’ comp if you or an employee needs medical care or time off due to a workplace injury — or if an injured employee sues you for failing to prevent an accident.

If you don’t carry workers’ comp, your business will be responsible for any medical bills and legal fees. Most states also levy costly penalties for noncompliance.

Importance

A serious workplace injury could financially devastate your business. Many small businesses can’t afford to pay medical bills out of pocket, whether it’s the treatment of carpal tunnel syndrome or a broken leg.

Without workers’ comp coverage, both you and your employees are left in a difficult situation with immense financial liability. As a business owner, workers’ comp should be on top of your priorities for the following reasons:

  • It is required by most states.
  • It covers medical expenses and partial lost wages due to a work injury.
  • It also covers the cost of employee lawsuits related to a work injury.

Protection Against Employee Lawsuits And Fatal Accidents

In many states, yes. Most workers’ compensation policies include employer’s liability insurance. This protects your business if an injured worker files a lawsuit against you for not preventing a workplace accident.

If an employee sues for negligence, your insurance company will pay for:

  • Attorney’s fees
  • Court costs
  • Settlements or judgments

Most workers’ compensation policies also include death benefits. A comprehensive policy will cover an employee’s funeral and burial costs after a fatal workplace. Workers’ comp can also provide financial assistance for the deceased employee’s family.

Coverage of COVID-19 Cases

It depends on where an employee contracted COVID-19. Workers’ comp insurance protects employees from on-the-job injuries and illnesses. If an employee contracts coronavirus while working, then this policy should provide coverage.

For example, a nurse caring for sick patients or a grocery store worker who deals directly with the public would both have a stronger claim than an office worker. However, workers’ comp doesn’t cover diseases unrelated to employment.

Your state’s laws could potentially help cover costs related to COVID-19. If you think you might be eligible for a claim, contact your insurance agency’s claims department.

Legal Mandates

Each state has unique laws and penalties for workers’ comp. In most states, workers’ comp is required as soon as a business hires its first employee.

Workers’ compensation is required in California for all employers, even those with fewer than one employee. California law requires business owners to carry workers’ compensation insurance for employees who work in the state regularly, even if the business’s headquarters are located in another state.

On the other hand, other states don’t mandate coverage until a business has two, three, four, or more employees. Texas and South Dakota are the only states where business owners are never required to purchase workers’ comp. All other states impose penalties for not carrying workers’ compensation. These can range from fines to jail time or both.

Workers Compensation Insurance For Self-Employed

Self-employed businesses are typically not required to carry this type of insurance. States generally require businesses with employees to purchase workers’ compensation insurance.

However, sole proprietors, independent contractors, and other self-employed business owners may buy this policy to fulfill the terms of a contract or to protect their income.

Most health insurance policies exclude coverage for work-related injuries and illnesses. If you carry workers’ comp as an independent contractor, your medical bills will be covered when you’re injured on the job.

Workers’ comp can also partially replace wages lost while taking time off to recover from a work-related injury.

Some businesses don’t want to deal with the expense and hassle of a workplace injury. That’s why they might require contractors who work for them to carry their own business insurance, including workers’ comp.

This requirement limits legal liability for the client. Independent contractors with business insurance are more likely to seek payment from their insurance companies if they are injured while working on a project.

Stampede Insurance: Offering Workers’ Comp Insurance In California and other states

Having comprehensive California workers’ compensation coverage can protect your employees and your business from loss and financial damage.

At Stampede Insurance Services, we can provide your work comp insurance needs in Pasadena, California, including the Anaheim, Long Beach, Los Angeles, Riverside, and San Bernardino areas in addition to these states: Alabama, Arizona, California, Florida, Kansas, Kentucky, Louisiana, Mississippi, New Mexico, Nevada, Oklahoma, and Texas. Get a free no-obligation quote today!

Trusted by

logo-allied
logo-am-trust
logo-am-wins
logo-anthem
logo-assurity
logo-cbic
logo-chubb
logo-cna
logo-employers
logo-formost
logo-guard
logo-hanover
logo-hartford
logo-hcc
logo-hiscox
logo-hull
logo-infinity
logo-kemper
logo-kemper-auto
logo-lloyds
logo-markel
logo-pacific-specialty
logo-progressive
logo-safeco
logo-scif
logo-texas-mutual
logo-travellers
logo-usli
logo-zurich
Request A Quote
Located in Pasadena, California. We also serve the Anaheim, Long Beach, Los Angeles, Riverside, and San Bernardino areas.  
Licensed in Alabama, Arizona, California (#0H18184), Florida, Kansas, Kentucky, Louisiana, Mississippi, New Mexico, Nevada, Oklahoma and Texas
© 2022 Stampede Insurance Services. All Rights Reserved.   DMCA.com Protection Status