Worker’s Compensation Insurance

Longmont, CO Workers Compensation Insurance

Every Colorado business with even just one employee on a W2 is required to provide Workers Compensation Insurance. The cost of this insurance policy cannot be taken out of wages but is entirely a business expense. Workers Compensation Insurance Longmont COPremiums are calculated based on total payroll for the number of employees in each type of occupation category, as defined under Colorado state law. Each type of occupation is assigned a code based on the hazards involved and the rates are proportionate to this code.

Areas of Coverage Under Worker’s Compensation Insurance Policy

  • Medical Expenses
  • Lost Income
  • Rehabilitation Costs
  • Death Benefits

Worker’s Compensation Insurance is a necessary safeguard for employees and business owners alike. Employees need to know that should they be injured on the job, their medical expenses and a percentage of lost wages, at a minimum, will be covered. Rehabilitation, therapy, death benefits and other potential costs can also be covered under the policy. And should an employee become disabled due to an injury or illness off the job, payment of lost wages (not medical costs) is subject to Colorado’s Disability Benefits Law.

Good business owners know that their company’s success directly depends on their employees, and providing a comprehensive worker’s compensation package is one way of showing employees that they are valued. But remember that worker’s compensation is not for the employee’s benefit alone. Worker’s Compensation Insurance also protects employer’s from potential lawsuits when an employee sustains a workplace-related injury. So making a small investment in a thorough worker’s compensation policy goes a long way towards ensuring the financial stability of your business.

Colorado has an “open market” where worker’s compensation coverage is underwritten by private insurers, which is good news for business owners because rates are competitive. DC Insurers Mountain: Longmont will customize a worker’s compensation policy to meet your business’s specific needs, and it won’t be a big expense in your operating budget. Call Steve Longenecker today to receive your free quote for Worker’s Compensation Insurance.


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