Looking for Workers Compensation Insurance in Denver, Colorado?
When your employees are taken care of, your business is taken care of.
A key part of running a business is keeping your employees safe at work. However, if an employees does suffer an injury, Workers Compensation coverage provides you and your employees with important protection to cover medical expenses and leave, legal fees, and other associated costs.
You pride yourself on operating a safe, secure work environment where your employees can perform to the best of their ability while helping your business grow. Even in the most ideal circumstances, the reality is that accidents and illness still happen.
A slip and fall at a restaurant resulting in broken bones, an equipment malfunction at a construction site causing eye injury—it could be any number of things. Having the proper coverages secured in place can make all the difference in how your business and employees recover.
Is Workers Compensation Insurance Required in Denver?
Workers Compensation coverage is a state-mandated insurance program that covers lost wages and medical treatment resulting from an employee’s work-related injury or illness. It also covers services needed to help an employee recover and return to work.
In most states, work comp insurance is required.
How Much Is Workers Compensation Insurance?
Because coverage requirements vary by state, the cost of Workers Compensation depends on where your business operates.
Common factors that affect your rates in Denver and the greater Colorado area include but are not limited to:
- Your number of payrolled employees.
- The type of work your employees do.
- Business claims history.
- Business industry.
Like all insurance, workers compensation rates are mainly calculated b the level of risk involved. Riskier industries and jobs result in more expensive rates comparable to industries with lower risk, such as a call center in contrast to a distribution center operating heavy machinery.
To ensure insurance prices are distributed fairly, rates are determined by classification codes. Therefore, each type of work or industry has a unique code to classify the industry and risk, helping the insurance carrier determine a suitable rate.
One way to save money on your Workers Comp policy is to make sure you’ve classified every employee and non-employee correctly. The secretary for a construction firm, for example, will have lower rates than the contractor bricklayers.
Get Started with a Commitment-Free Workers Compensation Insurance Quote Today
We understand the importance of keeping your employees safe and sound. After all, they are the foundation of your business. If you are looking for the right workers compensation insurance coverage while living in Denver, CO, our experts at Centennial State Insurance Agency are ready to help!
As Colorado insurance specialists, we understand what it takes to properly insure businesses and their employees, ensuring everyone is properly taken care of if disaster were ever to strike.
According to insurance agent Savannah Martin at Centennial State Insurance Agency:
“We understand the unique needs of those located in wildfire areas and work with insurance companies to understand this as well. We can help you with your home, condo, auto, boat, motorcycle, RV, business, or life insurance needs. We pride ourselves in working with our clients and educating them on their insurance needs while providing excellent customer service.”
If you are interested in having us review your current policy and provide you with obligation-free quotes, call our office today or submit some basic information in the fields below so we can get started on your policy review and comparison!