Workers comp insurance can help cover the costs from a work-related injury or accident. A Montana workers’ compensation policy includes benefits to cover things like:
Montana employees can be compensated with many workers compensation insurance benefits. If they become injured in the course of their work or develop an occupational disease, they can expect help with the cost of:
Montana has four categories of workers’ compensation income benefits:
Temporary total disability. For employees who suffer a total loss of wages for an extended period due to their injury or disease.
Permanent partial disability. For employees who are partially disabled by an injury or disease, which results in a wage loss.
Permanent total disability. For employees who cannot return to regular employment due to their injury or disease.
Death benefits may be paid to the employee’s beneficiary if they die as a result of a work-related injury or illness. Reasonable burial expenses up to $10,000 can also be covered.
Montana employers must report employee injuries to their insurer in a timely manner. They must also post a notice in the workplace that describes employees’ workers’ compensation coverage and rights.
Workers’ compensation policies protect Montana residents who temporarily work out of state. However, employers who have employees regularly working outside the state may need to get coverage in another state depending on the host state’s laws.
In some situations, non-residents who primarily work in Montana can be covered by a Montana workers’ compensation insurance policy. Employers who are unsure of whether their coverage extends to these employees should contact the Employment Relations Division of the Montana Department of Labor and Industry.
Workers’ compensation costs vary across industries. Factors that influence price include:
The best way to determine the insurance rate for your business is to get a free instant quote from NEXT.
The state of Montana penalizes employers who do not obtain required workers’ compensation coverage.
Uninsured employers may be fined $200 or twice the amount of the premium that they should have paid on the past three-year payroll while uninsured, whichever is greater.
Montana employers are not required to provide workers’ compensation insurance for some employees, including:
Some employers don’t have to obtain workers’ comp coverage for themselves, including:
All independent contractors in Montana must choose one of the following workers’ compensation options:
An ICEC allows an independent contractor to waive coverage for themselves. Fines of up to $1,000 may be assessed if an uninsured independent contractor is found to be working without an ICEC.
The department only grants permission if the employer can demonstrate their financial ability to cover all workers’ comp benefits.
Applications must include audited financial statements (or reviewed statements, if audits are not normally prepared) as well as actuary reports.
In the case of any of these exceptions, employers can still voluntarily provide coverage. Consider coverage to help pay for unexpected medical expenses and lost wages in the event that you or your employees get hurt on the job.
General liability insurance protects your business from common mistakes or accidents, such as customer injury or damages to someone’s property.
In Montana, all business-owned vehicles must be covered by commercial auto insurance. If you drive or use your personal vehicle for work, commercial auto insurance helps protect your business from accidents.
Commercial property insurance can provide financial help if your business structures, goods, gear or inventory are damaged or destroyed by a covered event.
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