What is it?
If you have employees, it's your job to keep them safe at work. If an employee trips over a cord at work, or throws out his or her back lifting office equipment, your workers' compensation insurance will help pay for their medical expenses.
Workers' compensation insurance is a mandatory policy required in most states, including California. If you have even one employee, you must buy it or you could face severe penalties. Period.
The idea behind the coverage is straightforward and simple. It's a no-fault insurance program.
What's typically covered?
For the employee–it covers lost wages and medical treatment resulting from an injury that took place while at work.
Do I need it?
Any business owner with even one employee needs it! It's the law.
How much is it?
Workers' compensation premiums are determined by:
- Your type of business
- How many employees you have
- Your claim history