Cheap Workers Compensation Insurance Quotes Ohio

As of 2019, the US Bureau of Labor Statistics has reported a total of 166 fatal injuries that are work-related. This number saw an increase from the previous year. Meanwhile, the private sector in Ohio has totaled 91,000 non-fatal workplace injuries or an incidence rate of 2.4 cases per 100 full-time employees. While less than the national average, it is still an alarming number.

For business owners who want to avoid the financial burden of providing medical care and assistance to employees, workers compensation insurance is what you need. It is a must for employees and employers alike and is also known to improve productivity while giving you peace of mind.

Cheap Workers Compensation Insurance

Do you need workers compensation insurance in Ohio?

Most business owners in Ohio are required to obtain workers comp insurance for their employees. Below are some of the qualifications for those that will be required to obtain this type of insurance.

  • If you are a business with at least one employee
  • If your employees earn more than $160 per calendar quarter

The exceptions to the above are those who mostly do volunteer work, or domestic workers such as baby sitters, house helpers, and gardeners.

The issuance and implementation of workers compensation in Ohio is governed by the Ohio Bureau of Worker’s Compensation (BWC). The regulations are governed under the Ohio’s Workers’ Compensation Act.

Is workers comp insurance necessary for a self employed individual?

If you are a sole proprietor or you are a partner to a given business, obtaining workers compensation insurance is a must. However, if you are the business owner then it is optional to get self-insured.

It is important that you honestly classify individuals as independent contractors or employees. Otherwise, you could be at risk of being penalized for misrepresentation of your business and its employees.

Cheap Workers Compensation Insurance

How much does workers compensation insurance cost in Ohio?

The rates for workers compensation insurance in Ohio differs largely based on a number of factors. The estimated cost is an average of $0.67 per $100 in your payroll system.

The insurance providers will gather information about your business and its employees in order to determine the premium price. They will assess your business and the associated risks to your employees based on the classification codes.

Other information that you will be asked to provide include the number of employees in your payroll and record of claims in the past (if any). If you are looking for cheap insurance rates, you can always ask for various quotes from different insurance carriers to get the most affordable deal.

How does workers compensation work?

Workers compensation insurance is designed to give protection to your employees from risks that they are exposed to at work. In order for a claim to be filed and paid out to the employee, there are certain conditions that must be met.

First and foremost, there should be proof that the injury was sustained while in the workplace performing their duties at work. There is often a no-fault policy on this type of insurance; this means that employees can get the benefit regardless if the injury was accidental or the employee’s fault. As long as there is evidence that the employee sustained the injury while performing their job, then they qualify for the benefit.

Cheap Workers Compensation Insurance Quotes Near Me

Cheap Workers Compensation Insurance Quotes Ohio

Best Workers Compensation Insurance Companies

Ohio Bureau of Workers' Compensation

30 W Spring St, Columbus, OH 43215

(800) 644-6292

Workers Compensation

161 S High St #300, Akron, OH 44308

No phone number found

Ohio Bureau of Workers' Compensation (BWC)

200, 2593, 339 E Maple St, North Canton, OH 44720

(800) 644-6292

Workers Compensation

2025 E 4th St, Lima, OH 45804

(419) 227-3127

Bureau of Workers Compensation

13430 Yarmouth Dr, Pickerington, OH 43147

(614) 644-6292