Workers' Compensation Insurance
What is workers' compensation insurance?
Workers' compensation insurance, also called workers' comp insurance, is a state-required, no-fault coverage that can provide medical benefits, lost wages, and rehabilitation services to employees who are injured or become ill due to their job. In exchange for these benefits, employees generally waive the right to sue their employer for workplace injuries, which helps protect businesses from certain liability claims. Coverage may also include disability benefits and death benefits. Most states require businesses with employees to carry workers' compensation insurance. 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.
Benefits of workers' compensation insurance for your employees
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:
- Medical care, including doctor visits, hospital stays, surgery, and prescriptions
- Partial wage replacement if an employee cannot work
- Rehabilitation services, such as physical or occupational therapy
- Disability benefits for temporary or permanent impairments
- Death and funeral benefits for dependents
Benefits of workers' compensation insurance for employers
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.
How does workers' compensation insurance work?
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 can reduce
the risk of being sued by employees, and help protect the business from significant financial loss after a workplace 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. Learn more about protecting your business with through GEICO Insurance Agency today.
What are the requirements for a workers' compensation insurance policy?
Most states require businesses with one or more employees to carry workers' compensation insurance in accordance with state laws. Requirements vary by state and may apply regardless of whether employees are full-time, part-time, or seasonal. Certain exemptions may apply depending on business structure or industry.
Who needs workers' compensation insurance?
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:
- Healthcare
- Retail
- Restaurants
- Hospitality
- Manufacturing
- Transportation
- Contractors
What's covered in a workers' comp policy?
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.
What Workers' Comp Covers
A workers' compensation insurance policy typically covers work-related injuries and illnesses for employees, owners, and officers of a company. Examples include:
- Lost Wages
- Medical Expenses
- Rehabilitation Expenses
- Death Benefits
What is not covered by a workers' compensation policy?
Workers' compensation insurance generally does not cover injuries that:
- Are caused by employee intoxication or illegal drug use
- Result from intentional self-harm
- Occur while the employee is not performing job-related duties
- Arise from serious misconduct or willful violation of company policy
How Much Does Workers' Compensation Insurance Cost?
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.
Why choose the GEICO Insurance Agency to help with workers' compensation insurance?
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:
- Experienced claims professionals focused on timely injury resolution
- Coverage solutions tailored to your industry and small business needs
- Guidance on state requirements and compliance considerations
- Flexible payment options available through participating insurers
- The convenience of managing multiple small business insurance needs in one place
Get a fast, free workers comp quote to explore coverage options for your business.
Save on workers' comp costs through GEICO
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!
Need to speak with a specialist about worker's compensation coverage?
Get started with a free workers' compensation insurance quote online. You can reach a sales agent at (866) 509-9444
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Mon - Fri8:00 AM - 10:00 PM (ET)
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Workers' Compensation Insurance FAQ
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How can I learn more about workers' compensation insurance?Managing a business is hard work. Let us help you learn more about workers' compensation insurance to determine if it is right for your business.
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Do I need workers' compensation insurance if I'm self-employed?In most cases, no. It is highly recommended to buy workers comp insurance for yourself, though, because if you do get hurt while out doing business, it's best to be covered like any other worker.
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Does workers' compensation insurance cover contractors?Coverage for 1099 workers and independent contractors depends on state law and how the worker is classified. In some states, certain contractors may be entitled to workers compensation benefits if they are injured on the job. Because requirements vary, it is important to review your state regulations and confirm how your workers are classified under your policy.
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How can I manage my workers' compensation policy?It's easy to connect with the GEICO Insurance Agency Partners regarding your Workers' Compensation coverage. Remember to have the name of the carrier your policy is written through with you.
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Do you sell other business insurance products?Yes! Whether you are a small business just getting started or looking for better insurance rates, GEICO can help. Answer a few short questions so we can help narrow down the search.
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What type of insurance do construction contractors need?Construction contractors typically need several types of business insurance depending on their operations and state requirements. Workers' compensation insurance is often required if you have employees and helps cover medical expenses and lost wages after a job-related injury.
Contractors may also need general liability insurance to help protect against third-party injury or property damage claims, commercial auto insurance for work vehicles, and builder’s risk insurance for projects under construction.
Coverage requirements vary by state and trade, so it is important to review your specific risks. Learn more in our Insurance 101 for construction contractors guide. -
How to Get Workers' Compensation InsuranceTo get workers' compensation insurance through GEICO Insurance Agency, visit our dedicated workers' compensation insurance page. From there, you can provide details about your business and request a free online quote. If you would prefer to talk to a live agent, you can contact us online by chat or give us a call at (800) 841-1621.
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How are workers' compensation insurance quotes calculated?Workers' compensation insurance quotes are calculated based on three key factors: payroll, industry classification, and claims history. Insurers predominantly use Workers Compensation Classification Codes to assess the level of risk associated with different job types, then apply a base rate per $100 of payroll, adjusting for experience modifications (calculated by rating bureaus) based on past claims. Additional factors like state regulations, business size, and safety measures can also influence the final quote.
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How do you file a workers’ comp claim?If an employee is injured or becomes ill due to a work-related incident, report the claim as soon as possible. This typically involves notifying your workers' compensation insurance carrier and submitting details about the injury. Your policy documents include contact information and instructions for starting a claim. Prompt reporting can help speed up review and resolution.
Workers' Compensation insurance coverages are written through affiliated insurance companies and are secured through the GEICO Insurance Agency, LLC. We can help you secure Workers' Compensation insurance in all states except Hawaii, Maine, North Dakota, Ohio, Washington and Wyoming.
The information you provide will be shared with our business partners so that they can return a quote.
Please note:
The above is meant as general information and as general policy descriptions to help you understand the different types of coverages. These descriptions do not refer to any specific contract of insurance and they do not modify any definitions, exclusions or any other provision expressly stated in any contracts of insurance. We encourage you to speak to your insurance representative and to read your policy contract to fully understand your coverages.
For online quotes:
When you click on "START QUOTE" and "Start your quote now", we gather some pieces of information and you may be taken to the website of one of the insurance companies with which GEICO Insurance Agency, LLC works, which website is not owned or controlled by GEICO. Each insurer has sole financial responsibility for its own products. GEICO has no control over the privacy practices of these insurance companies and assumes no responsibility in connection with your use of their websites. Any information that you directly provide to one of these insurance companies is subject to the privacy policy posted on that insurer's website. All business products offered are written on an admitted basis. General Liability coverages are written through non-GEICO insurance companies and are secured through the GEICO Insurance Agency, LLC. The information you provide will be shared with our business partners so that they can return a quote. We can help you secure business insurance in all states except Hawaii.