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    Construction is a profession with a higher risk associated with it, no matter what the trade, as compared to other professions. Construction workers make up nearly half of the list of deadliest professions. Construction workers have among the highest fatalities. This is why getting a suitable workers’ compensation insurance policy is not only imperative for a construction company, regardless of the size, but also a legal requirement in most states for a contractor’s license. 

    As mentioned, construction has a greater rate of fatalities and accidents than most other professions. This is because construction sites can be very dangerous places with a combination of heavy machinery, multiple different jobs going on simultaneously, looming deadlines, human errors, and many other such hazards. Even if it is a small remodeling project, someone can always trip over a ladder or even slip on a paint spill. Your workers, direct employees, or subcontractors, are always in danger of getting seriously hurt. Depending on your specific needs and the situations you work in, a workers’ compensation insurance policy will save you a lot of trouble and be your safety net in dire times.

    If you have a company that has over 50 employees, all in different trades; some riskier than others, your policy will reflect that. If your company is specifically a roofing company with 10 employees who are all roofers, your workers’ compensation policy will be priced accordingly, and will probably have higher premiums.

    Below we have discussed very comprehensively, everything you need to buy a suitable workers’ compensation insurance policy so that you can make an informed decision.

    We at PBIBINS specialize in workers’ compensation insurance for contractors as our CEO was a former contractor himself. This means that we understand what your workers’ compensation insurance policy needs as a contractor are. No two workers’ compensation insurance policies can be the same. They have to be written separately for every business. Whether you are the owner of a large construction company that handles multi-million dollar projects or an independent contractor who works alone, workers’ compensation insurance is something you will need to keep your business safe. Feel free to call and speak to our specialists about workers’ compensation insurance and get a free, no-obligation quote for your consideration.

    Who might need a workers’ compensation insurance policy?

    Almost every state requires a contractor to get workers’ compensation before you can get a license. This is to protect the workers from lost wages and medical bills in case of injuries and ailments due to the nature of their job. Even if you have a sole proprietorship and don’t have any employees yet, it is imperative that you check what your state laws have to say about workers’ compensation. While some states may allow sole operators to self-insure, others might not. Another thing that varies for different states is the rules on the minimum and maximum amount of workers’ compensation insurance you will need, which type of workers will be required to have insurance and which type won’t, and fines and penalties for not having adequate workers’ compensation insurance.

    How to buy workers’ compensation insurance?

    There are essentially three ways to go about buying a workers’ compensation policy;

    • Private insurance carriers

    These are by far the most preferred option since all the policies can be bought from one carrier at better rates after comparing multiple quotes. All insurance providers give free, no-obligation quotes, based on the company’s needs and requirements. These are a very good starting point for the company to check who provides the best value for money in regards to the workers’ compensation insurance.

    Feel free to call and speak to our specialists about workers’ compensation insurance and get a free, no-obligation quote for your consideration.

    However, this may not be possible in all states. Some states require the companies to buy workers’ compensation insurance from their state funds only. The companies need to split their insurance in those cases.

    • Competitive State funds

    These are set up for companies to purchase workers’ compensation insurance directly from the state. Competitive state funds have some private insurance carriers working with them as well so that they can provide coverage for comparatively riskier trades. 

    • Monopolistic state funds

    North Dakota, Ohio, Washington, and Wyoming are four states in particular that do not allow private carriers to sell workers’ compensation. It has to be purchased from the state funds. It means that the companies can buy other insurances from private carriers, but not workers’ compensation.

    Out of state employees

    It is a technical issue since all states except Texas require you to buy workers’ compensation insurance policies. If you are based in any state, except Texas, workers’ compensation is a must, however, if you have a branch in Texas, it won’t be necessary. Vice versa, if you’re based in Texas, you won’t need workers’ compensation there, however, you will need to operate in any other state. It will have to be in accordance with that particular state.

    Feel free to call and speak to our specialists about workers’ compensation insurance and get a free, no-obligation quote for your consideration.

    Penalties

    Any business, not based in Texas, that chooses not to buy a workers’ compensation policy, can be charged with penalties and fines. These are based on the state, as every state has different consequences, as per its laws. It depends on some of the following factors;

    1. Why are you falling short of compliance?

    If you are misleading the state, on purpose, about the size of your company in terms of the number and type of staff you have, to get out of paying for workers’ compensation insurance, you will be charged a lot more fine than if you miss something out unintentionally.

    1. The time period that has passed since you have been non-compliant

    Most states charge a fine per day for non-compliance. It can add up very quickly to a very substantial amount if you are not careful.

    1. Size of your staff

    Even though it is not the same in all states, the size of your staff will definitely be a deciding factor in the fine or penalty you have to pay. The smaller your company size, the less fine you have to pay.

    Several states have a particularly strict fine for non-compliant companies, so much so that if you are in serious violation, someone from your management staff could even be facing jail time. Here are some of the penalties that a company could potentially face in certain states:

    In California, the penalty is either twice the premium of workers’ compensation which the company had to pay per employee or $1500 per employee, whichever one is higher.

    According to New Jersey law, the penalty can be up to $10,000 or 18 months in jail.

    Up to $50,000 can be fined if a business is not fulfilling the compliances in Virginia and New York.

    A company owner can be charged with a felony charge in Illinois if they fail to buy workers’ compensation.

    In Pennsylvania, not buying workers’ compensation for your employees can mean a third-degree felony which can be up to 7 years in jail.

    Feel free to call and speak to our specialists about workers’ compensation insurance and get a free, no-obligation quote for your consideration.

    Workers’ compensation requirements for different states

    It is very important, given the high penalties you can face as a business, that you get workers’ compensation insurance for your employees. The requirements, however, vary for all the states. It is extremely important that you confirm the latest requirements with the state departments before you buy workers’ compensation. This is so that you are fully aware of the limits of what you need, workers who are essential for insurance, and those who can be exempt. Following is a list of basic workers’ compensation requirements for every state. 

    Alabama

    It is essential for every business with five or more employees to buy a workers’ compensation policy. Business owners can buy workers’ compensation coverage for any of the three options; private carriers, Alabama assigned risk pool or they can pay their own claims if they qualify. In case a company does not buy a policy, it can be penalized strictly. For details click here or call and talk to our experts on workers’ compensation and get a free, no-obligation quote from PBIBINS for your consideration, based on your specific needs.

    Alaska

    One or more employees makes it compulsory for a company to buy workers’ compensation. It can be bought from either private carriers or government funds and there are serious charges in case a workers’ compensation is not bought. For more details click here or call and talk to our experts on workers’ compensation and get a free, no-obligation quote from PBIBINS for your consideration, based on your specific needs.

    Arizona

    It is obligatory for every business in Arizona to purchase a workers’ compensation insurance policy, which can be bought from either private brokers or a government fund. There is a very strict penalty if a company does not buy workers’ compensation. You can click here for details, or call and talk to our experts on workers’ compensation and get a free, no-obligation quote from PBIBINS for your consideration, based on your specific needs.

    Arkansas

    If you employ three or more employees, it is mandatory for a business to obtain a workers’ compensation insurance policy and for businesses linked to high-risk industries like construction, it is imperative to buy, regardless of the size of the company or number of employees. The workers’ compensation policy can be bought from private carriers or brokers. Not buying a policy can cause fines. For details click here or call and talk to our experts on workers’ compensation and get a free, no-obligation quote from PBIBINS for your consideration, based on your specific needs.

    California

    Having one or more employees makes it a requirement to buy workers’ compensation in the state of California. It can be bought from either private brokers or state funds. In case of violation, a company will have to stop all work and be penalized. You can click here for details, or call and talk to our experts on workers’ compensation and get a free, no-obligation quote from PBIBINS for your consideration, based on your specific needs.

    Colorado

    It is mandated for every business to buy a workers’ compensation policy and it can be bought from both private carriers or government funds. Non-compliance can cause big problems for companies. For details click here or call and talk to our experts on workers’ compensation and get a free, no-obligation quote from PBIBINS for your consideration, based on your specific needs.

    Connecticut

    Every company is required to purchase workers’ compensation and can only be bought from private carriers. If a company does not buy a policy, it can be fined. For details click here or call and talk to our experts on workers’ compensation and get a free, no-obligation quote from PBIBINS for your consideration, based on your specific needs.

    Delaware

    Having one or more employees makes it compulsory for a company to buy workers’ compensation, which can be bought from private carriers and brokers. A company may be fined three times what they had to pay in a year in case of non-compliance. You can click here for details, or call and talk to our experts on workers’ compensation and get a free, no-obligation quote from PBIBINS for your consideration, based on your specific needs as a contractor.

    Washington D.C.

    It is obligatory for every business in Washington D.C. to purchase a workers’ compensation insurance policy, which can be bought from private brokers or carriers. There is a very strict penalty if a company does not buy workers’ compensation. You can click here for details, or call and talk to our experts on workers’ compensation and get a free, no-obligation quote from PBIBINS for your consideration, based on your specific needs.

    Florida

    Every company having four or more employees is required to purchase workers’ compensation and can only be bought from private carriers. If a company does not buy a policy, it can be fined. For details click here or call and talk to our experts on workers’ compensation and get a free, no-obligation quote from PBIBINS for your consideration, based on your specific needs.

    Georgia

    It is obligatory for every business to purchase a workers’ compensation insurance policy, which can be bought from private brokers or carriers. There is a very strict penalty if a company does not buy workers’ compensation. You can click here for details, or call and talk to our experts on workers’ compensation and get a free, no-obligation quote from PBIBINS for your consideration, based on your specific needs.

    Hawaii

    Every company is required to purchase workers’ compensation, even if they employ part-time workers, and it can only be bought from private carriers. If a company does not buy a workers’ compensation policy, it can be fined. For details click here or call and talk to our experts on workers’ compensation and get a free, no-obligation quote from PBIBINS for your consideration, based on your specific needs.

    Idaho

    Having one or more employees makes it a requirement to buy workers’ compensation in the state of Idaho. It can be bought from private brokers. In case of violation, a company will be penalized. You can click here for details, or call and talk to our experts on workers’ compensation and get a free, no-obligation quote from PBIBINS for your consideration, based on your specific needs.

    Illinois

    Every company having four or more employees is required to purchase workers’ compensation and can only be bought from private carriers. In case of negligence, it can be fined or even charged with a misdemeanor. For details click here or call and talk to our experts on workers’ compensation and get a free, no-obligation quote from PBIBINS for your consideration, based on your specific needs.

    Indiana

    It is mandated for every business to buy a workers’ compensation policy and it can be bought from both private carriers or government funds. Non-compliance can result in fines from the state. For details click here or call and talk to our experts on workers’ compensation and get a free, no-obligation quote from PBIBINS for your consideration, based on your needs.

    Iowa

    In Iowa, every company is required to get workers’ compensation insurance. Business owners can buy workers’ compensation coverage for any of the three options; private carriers, an assigned risk pool or they can pay their own claims if they qualify. In case a company does not buy a policy, it can be penalized strictly. For details click here or call and talk to our experts on workers’ compensation and get a free, no-obligation quote from PBIBINS for your consideration, based on your specific needs.

    Kansas

    Every business is mandated to obtain workers’ compensation and it can be bought through private carriers, government-mandated funds, or self-insure if they qualify. There are strict penalties for non-compliance with a potential shut-down if the business fails to purchase the policy. You can click here for details, or call and talk to our experts on workers’ compensation and get a free, no-obligation quote from PBIBINS for your consideration, based on your specific needs.

    Kentucky

    Workers’ compensation is compulsory for all businesses with at least one employee. Business owners can buy workers’ compensation coverage for any of the three options; private carriers, an assigned risk pool or they can pay their own claims if they qualify. In case a company does not buy a policy, it can be penalized strictly. For details click here or call and talk to our experts on workers’ compensation and get a free, no-obligation quote from PBIBINS for your consideration, based on your specific needs.

    Louisiana

    It is mandated for every business to buy a workers’ compensation policy and it can be bought from both private carriers or government funds. Non-compliance can result in fines from the state. For details click here or call and talk to our experts on workers’ compensation and get a free, no-obligation quote from PBIBINS for your consideration, based on your needs.

    Maine

    Workers’ compensation is compulsory for all businesses with at least one employee. Business owners can buy workers’ compensation coverage for any of the three options; private carriers, an assigned risk pool or they can pay their own claims if they qualify. In case a company does not buy a policy, it can be penalized strictly. For details click here or call and talk to our experts on workers’ compensation and get a free, no-obligation quote from PBIBINS for your consideration, based on your specific needs.

    Maryland

    It is essential for every business to buy a workers’ compensation policy and it can be bought from both private carriers and government funds. Non-compliance can result in fines from the state. For details click here or call and talk to our experts on workers’ compensation and get a free, no-obligation quote from PBIBINS for your consideration, based on your needs.

    Massachusetts

    Having at least one employee makes it a requisite for any business to get a workers’ compensation policy that can only be bought from private carriers or brokers. Businesses can be fined heavily in case they fail to provide coverage. For more details click here to speak to our expert on workers’ compensation and get a free, no-obligation quote based on your requirements as a contractor.

    Michigan

    Three is the minimum number of employees you should have, which makes it a compulsion to buy workers’ compensation, which can be bought from private carriers or brokers. A company can be fined or even face legal action in case of non-compliance. Click here for more details or call and talk to our experts on workers’ compensation and get a free, no-obligation quote from PBIBINS for your consideration, based on your specific needs.

    Minnesota

    It is mandated for every business to buy a workers’ compensation policy and it can be bought from both private carriers or government funds. Non-compliance can result in fines from the state. For details click here or call and talk to our experts on workers’ compensation and get a free, no-obligation quote from PBIBINS for your consideration, based on your needs.

    Mississippi

    It is essential for every business with five or more employees to buy a workers’ compensation policy. Business owners can buy workers’ compensation coverage from private carriers or brokers. In case a company does not buy a policy, it can be penalized strictly. For details click here or call and talk to our experts on workers’ compensation and get a free, no-obligation quote from PBIBINS for your consideration, based on your specific needs.

    Missouri

    Having five or more employees makes it mandatory for businesses to buy a workers’ compensation policy by state law, which can be bought from both private carriers or brokers, or the state fund. In case of failure to provide insurance, serious action can be taken against the company. Click here for more details or call and talk to our experts on workers’ compensation and get a free, no-obligation quote from PBIBINS for your consideration, based on your specific needs.

    Montana

    Except for a few exempt classes, every business must obtain workers’ compensation, which can be bought from either state funds or private carriers. Heavy fines can be imposed on a company in case of failure to provide workers’ compensation coverage. For details click here or call and talk to our experts on workers’ compensation and get a free, no-obligation quote from PBIBINS for your consideration, based on your specific needs.

    Nebraska

    Workers’ compensation insurance is a compulsion for all businesses to purchase from private carriers or brokers. In case of non-compliance, there can be high fines and even legal action. Click here for more details or call and talk to our experts on workers’ compensation and get a free, no-obligation quote from PBIBINS for your consideration, based on your specific needs.

    Nevada

    It is essential for every business to buy a workers’ compensation policy. Business owners can buy workers’ compensation coverage from private carriers or brokers. In case a company does not buy a policy, it can be penalized strictly. For details click here or call and talk to our experts on workers’ compensation and get a free, no-obligation quote from PBIBINS for your consideration, based on your specific needs.

    New Hampshire

    It is mandated for every business to buy a workers’ compensation policy and it can be bought from private carriers or brokers. Non-compliance can result in fines from the state. For details click here or call and talk to our experts on workers’ compensation and get a free, no-obligation quote from PBIBINS for your consideration, based on your needs.

    New Jersey

    Every company is required to purchase workers’ compensation, even if they employ part-time workers, and it can only be bought from private carriers. If a company does not buy a workers’ compensation policy, it can be fined. For details click here or call and talk to our experts on workers’ compensation and get a free, no-obligation quote from PBIBINS for your consideration, based on your specific needs.

    New Mexico

    Having three or more employees makes it mandatory for businesses to buy a workers’ compensation policy by state law, which can be bought from both private carriers or brokers, or the state fund. In case of failure to provide insurance, serious action can be taken against the company. Click here for more details or call and talk to our experts on workers’ compensation and get a free, no-obligation quote from PBIBINS for your consideration, based on your specific needs.

    New York

    Every company is required to purchase workers’ compensation, even if they employ part-time workers, and it can be bought from private carriers or competitive state funds. If a company does not buy a workers’ compensation policy, it can be fined or even face legal action. For details click here or call and talk to our experts on workers’ compensation and get a free, no-obligation quote from PBIBINS for your consideration, based on your specific needs.

    North Carolina

    Having three or more employees makes it a requisite for any business to get a workers’ compensation policy that can only be bought from private carriers or brokers. Businesses can be fined heavily or even face legal action in case they fail to provide coverage. For more details click here to speak to our expert on workers’ compensation and get a free, no-obligation quote based on your requirements as a contractor.

    North Dakota

    Except for a few exempt classes, every business must obtain workers’ compensation, which can be bought from either state funds or private carriers. Heavy fines can be imposed on a company in case of failure to provide workers’ compensation coverage. For details click here or call and talk to our experts on workers’ compensation and get a free, no-obligation quote from PBIBINS for your consideration, based on your specific needs.

    Ohio

    Having three or more employees makes it a requisite for any business to get a workers’ compensation policy that can only be bought from state-mandated funds. Businesses can be fined heavily or even face legal action in case they fail to provide coverage. For more details click here to speak to our expert on workers’ compensation and get a free, no-obligation quote based on your requirements as a contractor.

    Oklahoma

    It is essential for every business with any employees to buy a workers’ compensation policy. Business owners can buy workers’ compensation coverage for any of the three options; private carriers, a state-assigned risk pool or they can pay their own claims if they qualify. In case a company does not buy a policy, it can be penalized strictly or even face legal action. For details click here or call and talk to our experts on workers’ compensation and get a free, no-obligation quote from PBIBINS for your consideration, based on your specific needs.

    Oregon

    It is mandatory for all businesses to buy a workers’ compensation policy by state law, which can be bought from both private carriers or brokers, or the state fund. In case of failure to provide insurance, serious action can be taken against the company. Click here for more details or call and talk to our experts on workers’ compensation and get a free, no-obligation quote from PBIBINS for your consideration, based on your specific needs.

    Pennsylvania

    Workers’ compensation is compulsory for all businesses. Business owners can buy workers’ compensation coverage from private carriers or a stat-assigned risk pool. In case a company does not buy a policy, it can be penalized strictly. For details click here or call and talk to our experts on workers’ compensation and get a free, no-obligation quote from PBIBINS for your consideration, based on your specific needs.

    Rhode Island

    It is obligatory for every business to purchase a workers’ compensation insurance policy, which can be bought from private brokers or carriers, or state funds. There is a very strict penalty if a company does not buy workers’ compensation. You can click here for details, or call and talk to our experts on workers’ compensation and get a free, no-obligation quote from PBIBINS for your consideration, based on your specific needs.

    South Carolina

    With four or more employees, you will need to obtain workers’ compensation coverage which can be bought from private carriers or brokers. Businesses that fail to buy it will have to cover all costs of the claims in case of an uninsured employee gets injured. Click here for details, or call and talk to our experts on workers’ compensation and get a free, no-obligation quote from PBIBINS for your consideration, based on your specific needs.

    South Dakota

    It is mandatory for all businesses to buy a workers’ compensation policy by state law, which can be bought from private carriers or brokers. Businesses that fail to buy it will have to cover all costs of the claims in case of an uninsured employee gets injured. Click here for more details or call and talk to our experts on workers’ compensation and get a free, no-obligation quote from PBIBINS for your consideration, based on your specific needs.

    Tennessee

    It is obligatory for every business to purchase a workers’ compensation insurance policy, which can be bought from private brokers or carriers. There is a very strict penalty if a company does not buy workers’ compensation. You can click here for details, or call and talk to our experts on workers’ compensation and get a free, no-obligation quote from PBIBINS for your consideration, based on your specific needs.

    Texas

    Texas is the only state where it is not a compulsion to buy workers’ compensation insurance for their employees. It is only required in case a company is dealing with a government entity. There is, however, an option for the companies to buy from private carriers or a state fund. Click here for details, or call and talk to our experts on workers’ compensation and get a free, no-obligation quote from PBIBINS for your consideration, based on your requirements.

    Utah

    It is mandatory for every business to purchase workers’ compensation coverage which can be bought from state funds, private carriers or the company can cover it themselves if they fulfill the requirements. Non-compliance can cause penalties or even legal action. You can click here for details, or call and talk to our experts on workers’ compensation and get a free, no-obligation quote from PBIBINS for your consideration, based on your specific needs.

    Vermont

    Workers’ compensation is compulsory for all businesses. Business owners can buy workers’ compensation coverage from a state-assigned risk pool but not private carriers. They can also pay for their own claims if they meet certain requirements. In case a company does not buy a policy, it can be penalized strictly. For details click here or call and talk to our experts on workers’ compensation and get a free, no-obligation quote from PBIBINS for your consideration, based on your specific needs.

    Virginia

    It is essential for every business with five or more employees to buy a workers’ compensation policy. Business owners can buy workers’ compensation coverage for any of the three options; private carriers, a state-assigned risk pool or they can pay their own claims if they qualify. In case a company does not buy a policy, it can be penalized strictly. For details click here or call and talk to our experts on workers’ compensation and get a free, no-obligation quote from PBIBINS for your consideration, based on your specific needs.

    Washington

    Workers’ compensation is compulsory for all businesses. Business owners can buy workers’ compensation coverage from a state-assigned risk pool but not private carriers. They can also pay for their own claims if they meet certain requirements. In case a company does not buy a policy, it can be penalized strictly. For details click here or call and talk to our experts on workers’ compensation and get a free, no-obligation quote from PBIBINS for your consideration, based on your specific needs.

    West-Virginia

    With three or more employees, you will need to obtain workers’ compensation coverage which can be bought from private carriers or brokers. Businesses that fail to buy it will have to face fines and penalties. Click here for details, or call and talk to our experts on workers’ compensation and get a free, no-obligation quote from PBIBINS for your consideration, based on your specific needs.

    Wisconsin

    With three or more employees, you will need to obtain workers’ compensation coverage which can be bought from private carriers or brokers. Businesses that fail to buy it will have to face fines and penalties. Click here for details, or call and talk to our experts on workers’ compensation and get a free, no-obligation quote from PBIBINS for your consideration, based on your specific needs.

    Wyoming

    Workers’ compensation is compulsory for all businesses. Business owners can buy workers’ compensation coverage from a state-assigned risk pool but not private carriers. In case a company does not buy a policy, it can be penalized strictly. For details click here or call and talk to our experts on workers’ compensation and get a free, no-obligation quote from PBIBINS for your consideration, based on your specific needs.

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