If you’re an Arizona business owner with one or more part-time or full-time employees, you’re required by law to carry workers’ compensation insurance.
Under Arizona workers’ compensation law, employees are entitled to receive benefits for job-related injuries and illnesses, no matter who is responsible, as long as the employee didn’t intentionally cause the accident.
After purchasing a workers’ comp policy, employers must post a business notice — typically in an employees-only area — that shows you have coverage.
Business owners are responsible for paying 100% of the premium, which can be paid monthly or annually when you purchase coverage with NEXT.
Arizona workers’ compensation insurance can help pay for expenses related to job-related injuries and illnesses, including:
Coverage is available for acute injuries, such as falls, and injuries that may gradually worsen over time, such as carpal tunnel.
Adequate workers’ comp coverage protects your workers and protects your business from the impact of potential claims that could cost thousands of dollars.
For example, if one of your employees breaks a leg on the job, your policy can help pay for the employee’s medical bills and a portion of their lost wages if they’re unable to return to work.
If you fail to carry workers’ compensation or you have a lapse in coverage, your business could be responsible for paying the injured worker’s medical expenses and lost wages. In addition, a penalty of 10% or $1,000, whichever is larger, may be added.
You also run the risk of a lawsuit if an employee gets hurt. In that case, you could be paying for related expenses out of pocket.
Even if no claims are filed against you, the Industrial Commission of Arizona can shut down your business until you have proper coverage.
If one of your employees is injured on the job, you have 10 days to file a claim and report it to your insurance carrier.
Injuries are classified into different workers’ compensation claims:
According to Arizona state law, if an employee dies because of a job-related injury or illness, workers’ compensation covers up to $5,000 in burial expenses. Surviving dependents receive up to 66% of the employee’s average monthly wage.
Workers’ compensation costs vary across industries. Factors that influence price include:
Get a free instant quote in about 10 minutes from NEXT to see your workers’ comp insurance costs.
If you’re a sole proprietor, you don’t need to maintain workers’ compensation coverage for yourself.
If you only work with independent contractors who aren’t employees of your business, you are also exempt from the workers’ comp Arizona state requirement.
According to state law, you don’t need to maintain coverage for domestic workers.
While workers’ compensation insurance may not be required for all workers in Arizona, it is recommended to help cover the potential costs of medical expenses, lost wages, and the financial loss of a lawsuit filed against your business by an employee. Workers’ compensation insurance is a cost of doing business and a shield to help protect the longevity of your small business.
NEXT strives to resolve every claim quickly. Learn more about our claims process and how our claims advocates will work with you after an employee injury.
General liability insurance protects your business from common mistakes or accidents, such as customer injury or damages to someone’s property.
If you or your employees drive vehicles for work, you probably need commercial auto insurance. This provides coverage for accident-related expenses in a business-owned vehicle or a personal vehicle being used for work purposes.
Commercial property insurance can provide financial help if your business structures, goods, gear or inventory are damaged or destroyed by a covered event.
Learn more about workers’ compensation insurance options in the state where you work.
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