How to Get Workman’s Comp Insurance Quickly

Wondering how to get workman’s comp insurance quickly and completely online?

How to Get Workman’s Comp Insurance Quickly

For most businesses, workman’s compensation isn’t just a way to protect employees should an accident occur. It’s also a required form of business insurance.

With just a few exceptions, companies have a clear responsibility to their workers. Employees injured on the job need a path to covering medical expenses and to replace their lost wages.

Keep reading for answers to common questions about workers' compensation programs, including:

  • Who pays workman’s comp insurance?
  • How does workman’s comp insurance work?
  • How can my business get workman’s comp insurance quickly?

Understanding Workman’s Compensation Insurance

Workman’s compensation is insurance designed specifically to protect employees who suffer an illness or injury related to their job duties. By accepting this coverage, workers waive their ability to sue the company they work for should an incident occur.

Employers pay for this coverage, which insurance companies provide. Filing a workers’ compensation claim is handled similarly to many other types of business insurance, like general liability policies.

Investopedia explains that the process of filing a claim is usually straightforward. Employees should document the injury or illness, providing plenty of specifics. That includes naming fellow employees who were witnesses and providing photos, if possible.

The worker will then pass that information along to a safety officer or other designated employee. Finally, your business files a claim.

The process isn’t nearly as adversarial, complex, or involved as a negligence lawsuit. That’s something employers and employees alike can benefit from.

Why You Should Make Workman’s Comp a Priority

As a business owner, providing workers' comp coverage helps you accomplish a few key goals:

  • Supporting the welfare of ill or injured workers until they can return to work. Specifically by addressing both the cost of medical care and lost wages
  • Providing employees with a sense of security that they won’t lose the income that they count on
  • Aligning with state regulatory requirements for businesses

Many businesses have to carry workers' compensation insurance. That’s a strong enough argument to purchase a policy by itself. But making the effort to protect your employees is important to keep in mind, too. To put it simply, having strong workers’ comp coverage in place can be reassuring for your staff.

Understanding Differences in Workman’s Compensation Requirements

It is important to note that exact requirements vary from state to state. Texas is the one state that generally doesn’t require workers’ comp insurance for most businesses, the Texas Medical Association explains.

However, declining to purchase a policy exposes businesses to increased legal liability for workplace injuries and illnesses. As of 2020, about 71% of all companies in Texas have coverage, according to the Texas Department of Insurance. That’s despite the lack of a rule requiring them to do so.

Other states have much narrower exemptions, as FindLaw details in a state-by-state comparison of workers' comp laws. Some states exclude very small businesses from this rule, for example.

Even if state law doesn’t require your business to carry workman’s comp insurance, it can still be a good idea. Having a policy can help defray liability and avoid costly lawsuits.

A man with a cast on his right hand completes a worker’s compensation claim form.

How Can my Company Get Workman’s Comp Insurance Quickly?

We hope we’ve made the many benefits that come with workman’s comp insurance clear.

The big question left to answer is: How can you get workers' compensation insurance for your business quickly?

In the past, it wasn’t always possible to purchase a policy entirely online. And it could be difficult to have that policy go into effect in a matter of hours or even days. That left some businesses in a difficult position. They had no clear way to make sure coverage was in place for their day-to-day operations in the short term.

A Fast, Secure, and Dependable Online Process for Buying Workers’ Comp Insurance

Now, companies just like yours have the option of purchasing a workman’s comp insurance policy completely online.

When you partner with InsurePro, you can compare quotes from more than 20 insurance companies. That makes it easy for you to find the best combination of competitive cost and effective workman’s comp coverage, based on your unique business needs.

Once you provide all of the necessary information, you can receive quotes in just seconds. After you select your desired policy, you can have a binder policy in place in just minutes!

Have questions or want to talk to a professional to assist in this process? We know buying business insurance can be complex. That’s why we’ll connect you with an insurance expert to help you find relevant and useful coverage.

Start a policy with InsurePro today!