Workers Compensation Insurance

Workers Compensation Insurance in Louisiana

Employers in all states except Texas are required to carry Workers Comp insurance. Workers Comp protects your employees and you. In Louisiana, workers compensation is required for employers with one employee or more.

Workers Comp provides guaranteed (though limited) wage replacement and medical benefits to an employee that is injured on the job; in exchange, the employee relinquishes their right to sue.

Are any businesses exempt from having to provide workers comp in Louisiana?

There is an allowance for certain types of businesses to become exempt from providing workers comp insurance. However, if you go this route, you still have to provide benefits to an injured worker and you may be exposed to civil lawsuits brought by injured workers that could ultimately end up costing a lot more than simply obtaining the coverage.

What does worker’s compensation cover?

Workers compensation covers both physical and mental injury as a direct result of either accidents or occupational diseases at the workplace or during the course of performing regular functions of the job.

An “accident” is defined by the Louisiana Workers’ Compensation Act as “an unexpected or unforeseen actual, identifiable, precipitous even happening suddenly or violently, with or without human fault, and directly producing at the time objective findings of an injury which is more than simply a gradual deterioration or progressive degeneration.”

An “occupational disease” is defined as “only that disease or illness which is due to causes and conditions characteristic of and peculiar to the particular trade, occupation, process, or employment in which the employee is exposed to such disease.”

How much does Workers Compensation in Louisiana Cost?

In Louisiana, workers compensation premiums for your business will be affected by:

• The type of work your employees do (it costs more to obtain coverage for a rattlesnake exterminator than a clerical worker). Ensuring your employees are correctly classified may provide a cost savings.
• The number and amount of prior workers comp claims you’ve filed. Your rate can go up if you have a lot of claims and/or they’re expensive.
• Whether or not you enact a “modified work program” in order to return employees to the job faster.
• The number of employees you have.
• Your employees’ wages and any additional benefits provided to them

Typically, a small business with a few employees may expect to pay around $2,000 to $3,000 for their annual workers comp coverage. Businesses with 20 employees or more can expect to spend $12,000 or more annually.

Discounts may be available for employers that initiate workplace safety programs, enforce a drug-free workplace, and apply a high deductible to their workers compensation insurance policy.

Compare Rates from Multiple Insurance Companies for Workers Compensation Insurance

Workers comp insurance rates can vary greatly from company to company. Getting the help of an experienced independent insurance agent that can shop multiple insurance companies helps ensure you get the best deal to meet your needs.

Contact us in Bogalusa, LA or Franklinton, LA and speak to a knowledgeable business insurance advisor that can answer your questions about workers compensation in Louisiana and provide a workers comp quote.