Get workers' compensation insurance coverage
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Since 2012, WorkCompOne has helped thousands of small businesses get the coverage they need to stay in compliance and protect their employees.
It's work comp, simplified for small business. Our online platform allows top national carriers to serve all businesses – even those with less than 10 employees.
Don't get caught off-guard by an accident. Our coverage allows you to concentrate on what you do best—providing an exceptional shopping experience for your customers. Find peace of mind knowing that your business is well-protected.
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Accidents can occur out of the blue, even in the seemingly low-risk environment of retail trade. Retail employees may face the following risks:
Workers' compensation insurance is designed to cover these unique risks, by supporting medical expenses, wage losses, and disability benefits of work-related incidents.
A classification code is assigned to businesses when they buy workers' compensation insurance.
Within the retail industry, common classification codes include:
The cost of workers' compensation insurance for retail trade businesses is influenced by the total payroll being covered by the policy, specifics of the business operations, and history of work comp claims.
The retail trade industry is generally considered low-risk, but potential hazards remain. Within the industry, rates might differ depending on your company’s circumstances:
Workers' compensation premiums are calculated based on the type of work employees perform. Some businesses have different employees for each task, while others have just a few who wear many hats. These roles are described using workers' compensation classification codes. It’s important to classify your retail trade employees accurately because this could dramatically alter your premium.
Note: If your retail trade business works with subcontractors, ensure they have their own workers' compensation insurance or are covered under your policy to maintain compliance and coverage.
For retail trade businesses, workers' compensation insurance is not just a wise decision—it's a legal requirement in many U.S. states. Failure to have this insurance can lead to hefty fines and penalties. If your business employs workers in multiple states or works temporarily out-of-state, you may have to purchase insurance for all the states where your employees are located, according to each state's laws.
Workers' compensation insurance provides crucial wage replacement and medical benefits to your employees in the event of work-related injuries or accidents, such as slips, falls, or strains. These would be filed as workers’ compensation claims.
Before contacting insurance agencies, take some time to assess your retail trade business's specific requirements.
Providing this information will help insurance agencies offer you an accurate and customized quote.
Each state has its own regulations regarding workers' compensation insurance. Familiarize yourself with your state's specific requirements and any exemptions that apply to retail trade businesses.
Keep in mind that if your retail trade business operates in multiple states or your employees work temporarily out-of-state, you'll need to purchase insurance according to each state's laws.
Now it's time to contact insurance agencies. Consider working with an independent insurance agency that specializes in workers' compensation insurance for small businesses like yours.
Provide the agency with the detailed information you've gathered, including:
Once you receive quotes from different insurance carriers, compare them carefully to make an informed decision. While cost is important, consider other crucial factors such as the extent of coverage, customer service, and the claims process.
After a thorough comparison, choose the workers' compensation insurance policy that offers comprehensive coverage at a fair price. Remember, obtaining workers' compensation insurance not only fulfills a legal obligation but also demonstrates your commitment to your employees' well-being and safety.
Where small businesses buy workers' compensation insurance. WorkCompOne is an online digital insurance agency that’s changing workers’ compensation insurance. By combining best practices in technology and insurance, we’ve built a new way for businesses to secure workers’ compensation insurance online.
Founded in 2012, WorkCompOne offers coverage to small businesses nationwide through its easy online platform and partnership with leading national carriers. WorkCompOne is part of Custom Commercial Insurance Solutions.
Custom Commercial Insurance Solutions, formerly IDoComp.com, is a digital first independent insurance agency focused on improving direct-to-consumer commercial insurance. Incorporating innovative technology and insurance products, CCiS offers coverage to businesses of all sizes through its easy online platform, best-in-class customer service, and partnerships with leading carriers.