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Indiana Workers' Compensation Insurance
Protect your business and employees with Indiana workers' comp
The Indiana workers' compensation act ensures that employees receive financial and medical assistance for workplace injuries or illnesses. From the industrial centers of Fort Wayne to the farming communities across the state, this coverage is important for supporting your team's health and safety.
Talk to a Progressive Commercial specialist to learn more about workers' comp insurance in Indiana.
Who needs workers' compensation insurance in Indiana?
Under Indiana workers' compensation laws, any business with one or more employees must have coverage. This insurance guarantees that employees who experience job-related accidents receive necessary medical treatment and payment for lost wages. Having workers' comp may also be necessary to meet the requirements of professional licenses and contracts.
Explore Indiana workers' compensation requirements for employers.
Indiana workers' compensation insurance exemptions
Indiana workers' compensation exemptions apply to specific businesses or employment situations, including:
- Casual laborers
- Farm employees
- Household employees
- Independent contractors
Without workers' comp insurance in Indiana, employees are unprotected from occupational injuries or illnesses. Even if exempt, consider coverage to protect your team and prevent legal issues.
What are the penalties for not having workers' comp in Indiana?
Since it's required by law, Indiana workers' compensation violations can lead to penalties like fines up to $10,000. Consult with Progressive Commercial for expert guidance and support to help you avoid these risks.
Learn more about penalties for not having workers' comp in Indiana.
How much does workers' comp cost in Indiana?
Indiana workers' compensation rates depend on factors like:
- Job classification code: The Indiana Compensation Rating Bureau (ICRB) assigns class codes to categorize jobs. It helps determine insurance rates based on risk level.
- Payroll: With workers' compensation rates calculated per $100, a larger payroll means a higher premium.
- Claims history: Filing a higher number of claims can affect your workers' comp costs and potentially raise your rates.
- Insurance carrier: Since each insurance company has its own way of evaluating risk and setting prices, cost can vary across providers.
How can you get workers' comp in Indiana?
If you need Indiana workers' compensation insurance, you can choose from several options, including:
- Private insurers: Many businesses in Indiana choose to get workers' comp through private insurers because they offer flexible coverage and extra benefits.
- Self-insurance: Companies can apply for self-insurance. If approved, they might reduce their premiums through direct claim payments. However, they'll be responsible for all financial risks.
- State fund: This government program provides workers with consistent coverage and benefits. The state fund helps control costs and improves fairness and efficiency.
Exploring these possibilities can help you find the right workers' compensation insurance policy for your business.
How does workers' comp work in Indiana?
Workers' comp supports employees in case of accidents. Once an incident is reported, either the employer or employee can file a claim. If the claim is approved, the employee receives financial assistance.
Indiana workers' compensation insurance benefits include:
- Medical expenses
- Disability benefits
- Lost wages
- Rehabilitation costs
Workers' compensation protects your company and supports injured employees in their recovery and return to work. It also decreases the chance of legal claims, since employees receiving benefits usually can't file lawsuits against your business.
Indiana workers' compensation death benefits
Indiana workers' compensation death benefits support the families of deceased employees. These benefits help cover expenses and provide financial stability after a loss. They include:
- A lump-sum payment of up to $7,500 for funeral expenses
- Payments equaling two-thirds of the employee's average weekly wage paid for up to 500 weeks
Indiana workers' compensation statute of limitations
According to the Indiana workers' compensation statute of limitations, employees must file a claim within two years from the date of injury. Encourage your team to report incidents as soon as possible to secure benefits.
Why trust Progressive Commercial for Indiana workers' comp
For over 50 years, Progressive Commercial has made it easy for small businesses to find the coverage they need. Partner with us to get superior service at a competitive price.
Call an agent or start an online quote today.
