Workers’ Compensation Insurance
Help protect your employees and your business with workers’ compensation insurance that covers work-related injuries, illnesses, and medical expenses.
Help protect your employees and your business with workers’ compensation insurance that covers work-related injuries, illnesses, and medical expenses.
Workers' compensation insurance, also called workers' comp insurance, helps cover medical expenses and lost wages for small business owners if an employee is injured or becomes sick. Workers' Compensation Insurance coverage can include rehabilitation services and death benefits too. Workers' compensation insurance is also called workman's compensation or workman's comp. The GEICO Insurance Agency has teamed up with companies to help your business get the workers' comp coverage you need. Get a workers' compensation quote now.
Mandatory workers' compensation insurance provides no-fault coverage that protects employees who are injured or become ill due to a work-related incident. For covered claims, benefits may include:
Workers' compensation insurance helps protect your business after a workplace injury. In most cases, employees who accept workers' compensation benefits waive the right to sue their employer for covered injuries. This no-fault system can reduce exposure to costly civil lawsuits and support faster claim resolution.
In addition to covering employee medical care and wage replacement, a workers' compensation policy may also help with: legal defense costs related to covered claims.
A workers' compensation policy helps protect both employees and businesses. Employees get peace of mind that they'll receive financial protection and medical care if they are injured on the job. For employers, it significantly lessens the risk of being sued by employees, reduces liability, and protects them from a major financial loss due to employee injury.
If an employee is injured on the job, they should report the injury immediately, or as soon as possible. After that initial visit to their health care provider, the employee's medical provider will complete a report and send it to the employer's workers' compensation insurance provider to be processed.
It's also important to understand what qualifies for workers' compensation and what doesn't. An example of a workers' comp claim would be if a construction worker is injured on the job site by falling or being struck by an object. On the other hand, if they were in an auto while commuting to work, that wouldn't qualify.
Most states require businesses with 1 or more employees to have workers' compensation insurance in accordance with state regulations. As a business owner, you want to protect your business, yourself, and your employees from unforeseen accidents and prevent business interruption.
Most states require workers' comp insurance for businesses that have at least one employee. Not having this coverage can result in hefty fines. In California, for example, your business can be fined up to $100,000.
Although most businesses need a workers' compensation insurance policy, the most common industries that purchase it are:
Workers' compensation insurance coverage varies by state, but we've listed some examples of things usually covered. For a complete list of what's covered in your state, please see your workers' compensation insurance policy contract.
A workers' compensation insurance policy typically covers work-related injuries and illnesses for employees, owners, and officers of a company. Examples include:
Workers' compensation insurance generally does not cover injuries that:
Workers' compensation insurance costs depend on several business-specific factors. Premiums are typically calculated based on your total payroll, employee job classifications, industry, and past claims history.
State requirements and benefit structures can also impact pricing. Certain business operations or prior claims may pay more, while strong safety records can help lower costs over time. Because every business is different, the most accurate way to determine your workers' compensation insurance cost is to request a personalized quote.
Get a fast, free workers comp quote to see your estimated rate.
Workers' compensation insurance is required by the state, but service, claims handling, and support can vary. The GEICO Insurance Agency works with established insurance providers to help businesses secure dependable coverage in most states.
When you work with the GEICO Insurance Agency, you gain access to coverage options from established insurance providers, along with:
Get a fast, free workers comp quote to explore coverage options for your business.
We could help you save on your workers' compensation insurance by teaming up with companies that will work directly with you. See how much you could save and request a workers' comp insurance quote now!
Get started with a free workers' compensation insurance quote online. You can reach a sales agent at (866) 509-9444
Mon - Fri: 8:00 AM - 10:00 PM (ET)
Sat: 9:00 AM - 7:00 PM (ET)