Pennsylvania Workers Compensation Insurance (QUOTES, COST & COVERAGE)
Get Pennsylvania workers compensation insurance quotes, cost & coverage fast. Workers comp is required for employers in PA and protects your business by paying for employee medical, disability, rehabilitation & survivor benefits.
Pennsylvania Workers Compensation Insurance
Owning a business can be quite rewarding, but there are certain risks that you need to be aware of. One of the biggest risks that PA business owners – especially those that are just getting started out – overlook is a employee getting injured on the job.
Accidents happen. An employee can slip and fall; a piece of machinery could malfunction; an illness could occur as a result of a worker being exposed to something dangerous on your worksite (unbeknownst to you).
Does My Business Need Pennsylvania Workers Compensation?
If you have an existing business, or are starting a new business, don’t overlook the importance of getting Pennsylvania workers compensation insurance. Here’s a look at 5 reasons why you should have it:
It’s The Law. In most states, businesses are required by law to have workers compensation insurance. The laws do vary from state to state, so make sure that you do familiarize yourself with the laws that apply in your state. Typically, business owners can purchase a policy through an insurance agent; however, some states do require businesses to get coverage via a state-operated funds. See PA workers comp class codes for more information.
It Protects Your Business. Pennsylvania workers compensation insurance coverage not only protects your employees, but it also protects your business. Though cases do vary, often times, when a business offers workers’ comp coverage to its employees, workers agree to forfeit their rights to sue a business for negligence in the event of an accident or an illness. This will reduce costly the financial hardships that are associated with lawsuits, as well the damages that legal action could have on your business in the future. For example, businesses that have had lawsuits filed against them for wrong-doing in the case of an accident often have their reputation marred, which could have a negative impact on the success of the business.
It’s Beneficial For Employees. Should an employee be involved in an accident and sustain an injury, or falls ill as a result of being exposed to a toxic chemical or fume while on the job, and is unable to work, workers comp will cover their expenses. These expenses include lost wages, medical costs, and more. In essence, CPA workers comp serves as a financial safety net for your employees.
Assists With Recovery. Not only does Pennsylvania workers’ compensation insurance assist with lost wages and medical expenses, but it also covers some of the cost that is associated with any training or rehabilitation that employees may need so that they can return back to work. Moreover, should an employee be unable to return to work, the insurance will provide him or her with training that will better suit his or her new needs.
Helps Employees’ Loved Ones. Workers’ compensation insurance can also protect the loved ones of your employees. For example, it protects from the hardships that lost wages could impose on a family. In the extremely unfortunate event that a worker perishes as a result of his or her injuries or illness, workers comp insurance will likely cover at least some, if not all, of the funeral expenses. Some packages also offer surviving family members benefits.
For these reasons, Pennsylvania workers’ compensation coverage is a sound business investment. It protects your employees, their loves ones, your business – and you – from the financial hardships and the legal repercussions that could come about in the unfortunate event that one of your workers is injured or becomes ill while on the job. It is a requirement in most states, and because of the several benefits that this insurance offers, it’s easy to see why.
What Does Pennsylvania Workers Compensation Insurance Cover?
Workers compensation insurance cover only work-related injury or illness including: lost wages, medical expenses, and other benefits to employees who may become injured or sick while they are working. It’s a sound business investment, as it protects your most important asset: your employees.
A workers compensation policy usually has two parts:
- Workers Compensation Insurance: The first part of the policy fulfills statutory obligations under the Pennsylvania workers’ compensation laws. Under this section, the insurer agrees to pay all workers compensation benefits and other benefits that the employer must legally provide to covered employees who have a job-related injury or an occupational disease.
- Employers Liability Insurance: The second part of the policy covers employers against lawsuits by employees who are injured in the course of employment, but whose injuries (or diseases) are not compensable under the state’s workers compensation law. This part is similar to other liability insurance policies where negligence must be established before the insurer is legally obligated to pay.
What Pennsylvania Workers Compensation Insurance Doesn’t Cover
Workers compensation typically does not cover:
- Self-inflicted injuries
- Felony-related injuries
- Injuries an employee suffers off the job
- Injuries claimed after an employee is terminated or laid off
- Injuries from a fight started by the employee
- Injuries caused by intoxication or drugs
- Injuries resulting from horseplay or violation of company policy
- Injuries to an independent contractor
How Much Does Pennsylvania Workers Compensation Insurance Cost?
How much does workers comp cost in Pennsylvania? The cost of PA workers comp insurance varies tremendously, depending on your industry and location. If you are in an industry where work-related injuries are more likely to occur or in an area where insurance premiums are higher, then it will cost more.
For example, for a roofer, tree trimmer, or demolition company, the cost could be $17 per $100 in payroll, or even higher. On the other hand, the cost to cover a attorney, accountant or real estate agent could be under $0.20 per $100 of their payroll. So, for an employee that earns $40,000 a year, a blue collar contracting company could pay around $6800, where a white collar business may pay just $80.
Also your workers comp rates can go up or down depending on your accident history, much like they would for most types of insurance. See ideas on finding the cheapest workers compensation insurance in Pennsylvania.
Get A Pennsylvania Workers Compensation Insurance Quote
If you own or are starting a PA business, let one of our expert agents take a look at your current business policy. We offer a wide variety of options to ensure that your employees and you are properly protected from the hazards that could happen on the job. In most cases we can save you money and offer you better policy options than you currently may have. Pennsylvania workers compensation requirements, Pennsylvania workers compensation appeals board, Pennsylvania workers compensation rates, Pennsylvania workers compensation forms, Pennsylvania workers compensation insurance, workers comp questions Pennsylvania, Pennsylvania workers compensation search, Pennsylvania workers compensation pamphlet.
Further Reading On Worker’s Comp Insurance
- Workers Compensation Insurance
- How To Reduce Workers Compensation Premiums
- How To Understand Your Workers Compensation Experience Modification Factor
- How Much Does Workers Comp Cost In Pennsylvania?
- How Much Does Workers Comp Cost In Texas?
- Texas Workers Compensation Laws For Employers
- Uninsured Subcontractors Workers Compensation
- Workers Comp Insurance Audit
- Workers Compensation Classification Codes
- Workers Compensation Code 8810
- Workers Compensation For Restaurants
PA Workers Compensation Insurance Quotes
Request a Pennsylvania Workers Compensation Insurance quote in Allentown, Allison Park, Altoona, Baldwin, Bensalem, Bethel Park, Bethlehem, Bloomsburg, Carlisle, Chambersburg, Chester, Drexel Hill, Easton, Erie, Fullerton, Greensburg, Hanover, Harrisburg, Hazleton, Hermitage, Hershey, Horsham, Indiana, Johnstown, King of Prussia, Lancaster, Lansdale, Lebanon, Levittown, McKeesport, Monroeville, Murrysville, New Castle, Norristown, Philadelphia, Phoenixville, Pittsburgh, Pottstown, Pottsville, Reading, Scranton, State College, Upper Darby, West Chester, West Mifflin, Wilkes-Barre, Wilkinsburg, Williamsport, Willow Grove, York and all other cities in PA.
Pennsylvania Insurance Regulations
There are some regulations when it comes to Pennsylvania insurance that you should be aware of. We will be looking closely at both personal and commercial insurance within PA to find out what the regulations and limits are, so that whether you own a business or simply drive a car, you are able to get the insurance that is required by law. Understanding what the law requires the first step to making sure that you are compliant. Let's take a close look at these types of insurance.
PA Commercial Insurance
First, let's discuss business insurance. There are lots of different types of business insurance that you can get, but the most common one out there is what is called commercial liability or general liability insurance. This type of insurance protects you in case you are sued by someone who comes on your property and is injured or has their property damaged by something that happens on your premises. This may be something as simple as slipping on a wet floor or it might be a parking lot mishap the damages the vehicles there. However, this is not a mandatory type of insurance required by Pennsylvania law.
There are two types of insurance that are required in Pennsylvania however. These are pretty standard across most states. The first is Worker's Compensation insurance which is sort of like health insurance for anyone who is injured on the job. In addition, Pennsylvania requires that commercial vehicles that are actively being used in a business carry commercial auto insurance.
Pennsylvania Personal Insurance
You also need to know what the regulations are for personal insurance. The first type of insurance we will cover is auto insurance. In Pennsylvania, you are required to carry liability insurance for bodily injury of 15 000 USD per person and 30 000 USD per accident. In addition, property damage liability coverage is required at an amount of 00. You are also required to carry uninsured motorist coverage at 15 000 USD per person and 30 000 USD per accident as well as underinsurance motorist coverage at 15 000 USD per person and 30,000 USD per accident. Finally, Pennsylvania requires first party benefits medical payments coverage of 5000 USD. This is a great deal more than is required in most states.
There also some life insurance regulations that you will find under Title 40 of the state statutes. A free look period of 10 days is required for life insurance, there is a grace period on payments of 30 days and there is a guaranteed benefits and cash value law as well.
Different States Workers Compensation Insurance
If you are looking for state specific Workers Compensation Insurance quotes, costs and information: