Workers Compensation Insurance

Workers Compensation Insurance

Workers compensation insurance protects your business against your workers attempting to collect damages based on injuries they say occurred at work. These injuries can be the result of either a work-caused illness or accident. Employers pay for this insurance, and are required to cover all paid employees: however, those individuals who are Sole proprietors,
partners and, or corporate officers in the business, listed members of an LLC, can select to exempt themselves from the coverage.

Workers’ compensation policies are rated based on the class-code, assigned to a given occupation, generating a cost per $100 of payroll, and then multiplying that figure by the payroll amount for those workers engaged in that class. It is common for businesses to have different workers spread across a variety of classes. Workers Comp policies do not list those individuals who are covered, rather they list.
the amount of payroll for each listed class.

Workers Compensation

How much does Workers Comp Insurance cost?

The simplest answer is, to multiply the class code cost by the amount of payroll. As with all insurance, the greater the risk, the higher the premium.
Employees that sit behind a desk all day have a lower probability of occurring “Workplace related injuries. It therefore come as little surprise to find
that workers compensation rates are higher for those businesses whose employees work Construction, or as commercial drivers, steel workers, and farm workers.


Call 800-680-0707

Commercial insurance Information

Special Thanks to Insurance Information Institute



Have Questions or Prefer to Talk to an Agent? No problem.
Just give us a call at 800-680-0707 or have one of our auto insurance agents call you.

Urban Insurance Agency
800 W Huron St Suite 301,
Chicago, IL 60642


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