Workers Compensation Insurance

Looking for Workers Compensation Insurance in Michigan?

When your employees are being taken care of, your business is being taken care of as well. It is no secret that keeping employees safe at work is a crucial part of running your business. Moreover, if an employee suffers an injury while working for your business, workers’ compensation insurance provides you and your employees with important protection.

Your business thrives on a safe, secure working environment where your employees can do their best work while helping your business grow. Unfortunately, accidents and illnesses still happen even in the best circumstances.

Is Workers Compensation Insurance Mandatory?

Worker’s Compensation is a state-mandated insurance program in which lost wages, and medical treatment are covered as a result of an employee’s work-related injury or illness. In addition, it covers the services needed to help an employee recover and return to work.

Michigan requires employers to carry workers’ compensation insurance.

What’s so Important About Workers’ Comp?

Your business could be financially crippled if you suffer a serious workplace injury. It is well known that many small and medium-sized companies cannot afford to pay medical bills out of their own pocket, whether it is due to injuries, illnesses, or ongoing care.

As a result of purchasing this policy, you can be assured that you will be protected against medical expenses and litigation resulting from workplace injuries.

How Much is Workers Compensation Insurance in Michigan?

Because coverage requirements vary by state, the cost of Workers Compensation insurance depends on where your business operates. Other factors that affect your rates include:

  • The number of employees you have.
  • The type of work your employees do.
  • Your claims history.
  • Your industry.

Like all insurance, workers’ comp is priced based on risk. Riskier industries and jobs are more expensive to insure than less risky ones. To make sure prices are as fair as possible, they’re determined by classification codes. Each type of work or industry has a unique code that classifies the industry and risk and helps the insurance carrier determine a reasonable rate.

One way to save money on your Workers Comp policy is to make sure you’ve classified every employee correctly. The secretary for a construction firm, for example, will have lower rates than the bricklayers.

At Mason-McBride, we understand the importance of keeping your employees safe and sound. After all, they are the foundation of your business.

Get Started on Your Proposal Today

Fill out the form or call our office today, and we’ll discuss your needs and options. Of course, you can also head over to our proposals page and get started that way too.

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