Workers Compensation for Columbia, Baltimore, MD and Washington, DC
Including the greater Chesapeake Region
Get Your Workers Comp Insurance Started Today
When you own or operate a business in Maryland, you’re required by law to carry workers’ compensation insurance. This applies whether you have one part-time employee or a thousand full-time employees. If an employee gets insured on the job, you need to make sure they’re cared for without having to dig into your company’s assets or, worse, find yourself at the end of a lawsuit. There are only a few exemptions for workers’ compensation coverage, such as agricultural companies with select attributes or owners of the company opting to exclude themselves from coverage.
McFarlin Insurance works with a number of reliable insurance companies to find the best coverage at the best price for your company.
How Does Workers’ Compensation Work?
Say a teetering box falls on one of your employee’s head in the warehouse and gives him a concussion. Not only is that employee now unable to work while he recovers, but he also needs to pay for medical bills. Workers’ compensation coverage swoops in to pay a hefty, promised chunk of those bills, if not all of them. Workers’ compensation coverage may also step in to help pay legal fees if that employee decides to sue for the bodily injury.
How Much Workers’ Compensation Insurance Do I Need in MD?
Generally, workers' compensation in all states provides coverage for medical bills and lost wages for workers who are injured while on the job regardless of fault on a statutory basis. In other words, there is no set limit to how much the policy may pay out in the event of a covered claim (subject to state laws and regulations). Discuss your specific field’s needs with an agent at McFarlin Insurance today (410) 312-7800.
How Much Does Workers’ Compensation Insurance Cost?
The good news is that Maryland has some of the most affordable workers’ compensation rates in the US. On average, Maryland workers’ compensation coverage costs around $1.07 per $100 on the payroll. However, the rates are determined on the employees job classification. Higher risk jobs will carry a higher rate. For example, the rate for a clerical employee may only be $.12 per $100 of payroll, while the rate for a roofer may exceed $20 per $100 of payroll. This makes sense, because the roofer’s job is typically more hazardous than someone sitting behind a desk most of the day.
What Can We Do?
The importance of getting workers’ compensation coverage can’t be overstated. Maryland’s laws are designed to protect your employees and punish businesses that don’t have the right insurance. Skip all the hassle and call McFarlin Insurance. We work with a wide variety of reliable carriers to help protect your company and your employees with the best available insurance. Call us today at (410) 312-7800 or request a workers’ compensation coverage quote now.