Choosing The Perfect Workers’ Comp Insurance: A Handy Guide

Workers' Comp Insurance

In the business world, both companies and employees face unexpected hurdles. Accidents or the inability to work can stir up a storm for everyone involved. This is when workers’ comp insurance comes to the rescue. But how do we pick a policy that works for all parties involved?

Picking insurance is a lot like forming a strategic partnership. Just like you’d want a reliable business partner, you’d want a trusty companion like Hourly’s workers’ compensation insurance.

And all big decisions, including choosing insurance, require a good deal of rational thinking. But don’t worry, this guide will walk you through the ins and outs of the process.

First Things First, Get a Good Agent


In the insurance world, a good agent or broker can make all the difference. Especially if you’re new to this, you’ll need someone who knows their stuff and understands your business too.

Workers’ comp insurance isn’t easy-peasy, so your broker should know about the laws and regulations in the places your business operates. A top-notch broker will help you implement safety measures, keep a close eye on your payroll, and make sure your plan is always up to date.

State Requirements Matter

Workers’ comp requirements can differ from state to state. So, if your business is spread across multiple states, you need to keep an eye on these differences. This is where your broker becomes your guide, helping you navigate the complex maze of rules and regulations in each state.

Don’t Forget Your Safety Plan


Ever heard the phrase “prevention is better than cure”? That applies to businesses too. Having a safety plan is crucial. Start with basics like signage and ladder safety, and teach your employees about necessary safety gear.

Good training can slash injury risks, leading to fewer insurance claims. And guess what, many states offer discounts to businesses with solid safety programs!

Understand What Your Policy Covers

Workers’ comp insurance might seem like a tough nut to crack, but you can understand it. Workers’ compensation insurance generally covers injuries or illnesses that employees incur as a result of their jobs.

It can include coverage for medical care, replacement income, costs for retraining, compensation for any permanent injuries, and benefits to survivors if a work-related injury or illness results in death.

Benefits are typically paid regardless of who is at fault. However, benefits are typically not provided if the injuries are due to criminal activities, self-inflicted injuries, or substance abuse.

Keep Your Policy Up-to-Date

Workers' Comp Insurance

The key to ensuring your workers’ comp policy stays up-to-date is adjusting it based on any changes to your payroll. Enter Hourly–the platform that revolutionizes this process by syncing your payroll data with your workers’ comp coverage.

As your workers clock in and out, Hourly tracks their work hours, tasks, how much they’re earning, where they’re working, and more. It then uses this information to recalibrate your workers’ comp premiums in real time. This ensures you’re only paying for the coverage you need based on the real amount you’re paying your workers each month.

The best part? You’re not waiting for an annual review to adjust your policy. This ensures you’re fully covered and eliminates the possibility of overpaying or underpaying for your workers’ comp coverage.