If you have employees, most states require you to carry it. And landlords, vendors and other partners may require it before they’ll enter into a contract with you.
Why workers' comp?
Despite your best intentions, workplace accidents happen! Workers’ comp, makes it “no fault”: insurance benefits are the exclusive remedy. So you can keep your business … and your shirt.
- Covers accidents and injuries on the job
- Provides lost wages and medical benefits
- Shields you from employee lawsuits
Most state laws require you to carry it if you have employees. Many contracts you’ll sign with partners and vendors do too.
Mylo helps you shop affordable workers’ comp policies from top insurers – and make the best decision for your business!Start My Quote
Fast facts about workers' comp:
Your business's activity is assigned a rate that reflects its level of risk. Your premium is determined by a formula that includes this rate, your total payroll costs and your past workers' comp claims history.
Unfortunately, there are a few situations where you can be sued. The good news: these are rare – and you can head them off with employers' liability coverage (often included in workers' comp already).
Workers' comp: What's in it for me?
If you’re starting a business and plan to hire employees (you're one of our favorite people by the way!), you’ll need to carry workers’ comp. Learn why that's such a good deal for you.Read More
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