Workers’ Compensation Insurance in Tempe, AZ

If your business has employees, workers’ compensation insurance is one of the most important coverages you can carry. It covers your business against the financial burden of on-the-job injuries and illnesses. Ozzy Insurance Group helps employers in Tempe, AZ find the right coverage for their workforce.

What Workers’ Compensation Insurance Is and What a Standard Policy Covers

Workers’ compensation insurance can offer benefits to employees who suffer a work-related injury or illness. In most states, employers are required by law to carry this coverage, and the requirements vary depending on the number of employees and the industry. For example, in Arizona, employers with one or more employees must have this type of insurance. A standard policy typically covers:

• Medical expenses—Costs related to the injury or illness
• Lost wages—A portion of wages while the employee recovers
• Rehabilitation costs—Expenses if the employee needs therapy or retraining
• Death benefits—Payments to the employee’s dependents in fatal workplace accidents

The policy also typically includes employer’s liability coverage, which offers coverage if an injured or ill worker pursues a civil claim outside of the workers’ compensation system. This may be a significant financial exposure for businesses of any size.

How Much Does Workers’ Compensation Insurance Cost?

Workers’ compensation premiums are calculated using various criteria, including your industry classification, total payroll and claims history. Businesses in higher-risk industries, such as construction or manufacturing, generally pay more than those in lower-risk fields. A strong safety record can help keep your costs down over time. Because every business is different, the best way to get an accurate picture of your costs is to speak with our team.

Get Workers’ Compensation Coverage That Fits Your Business

Your employees count on you to provide a safe workplace, and workers’ compensation insurance is a key part of that commitment. Contact Ozzy Insurance Group today to review your coverage options and confirm your business meets state requirements while covering the people who keep it running.