PLUS everything you need to know to get the coverage that’s right for you.
Almost 250 companies offer workers’ compensation insurance in Massachusetts. That can make it challenging for business owners to find the provider and coverage that’s right for them. It’s why we reviewed the insurers to select the best five. We’re also giving you the information needed to get the right coverage once you select a provider.
- The 5 best workers compensation insurance companies in Massachusetts
- What you need to know about workers’ compensation insurance in Massachusetts
- The Massachusetts workers’ comp system
- Massachusetts workers’ compensation insurance requirements
- What workers’ compensation insurance covers in Massachusetts
- Filing workers’ compensation claims in Massachusetts
- How much does workers compensation insurance cost in Massachusetts?
- How to find cheap workers compensation insurance in Massachusetts?
- How is workers’ compensation insurance different from general liability insurance?
The 5 best workers compensation insurance companies in Massachusetts
We researched and reviewed more than 20 companies offering workers compensation insurance in Massachusetts and here are our recommendations for the top 5 providers:
- CoverWallet: Best for comparing several online quotes
- Chubb: Our top choice for the overall best worker’s comp insurer in Massachusetts
- Nationwide: Our top choice for construction and contracting businesses
- Hiscox: Our top choice for small businesses with unique insurance needs
- Cerity: Our top choice for low-cost, high-quality workers’ comp coverage in Massachusetts
CoverWallet: Best for comparing several online quotes
If your main goal is to find the cheapest workers compensation insurance for your company, you might want to start with CoverWallet. They are a digital broker and work with several insurance companies.
They are able to pull several quotes from their partner companies so that you can compare them in one place and select the best and the cheapest one for your company. Below is an example of the three quotes we received from CoverWallet for a landscaping company with 6 full time employees, an annual payroll of $400,000, and an annual revenue of $750,000:
You can easily compare these three quotes and select the cheapest one. For this landscaping hypothetical company, Guard turned out to offer the cheapest quote, but it might not the same for your company. Get your own quotes for your companies to compare.
CoverWallet is owned by Aon, one of the biggest brokerage firms in the world. So they do have strong financial backing. They also earn a good consumer rating on BBB (A).
Chubb: Our top choice for the overall best worker’s comp insurer in Massachusetts
Chubb offers workers’ compensation insurance for companies of all sizes, including a solution for small businesses. The workers’ compensation insurance can be easily added to the Chubb Business Owner’s Policy (BOP) along with other types of coverage, including umbrella, commercial auto, cybersecurity, and others, providing a broad level of protection for businesses.
Some of the features of the Chubb small business workers’ compensation solution include:
- It’s available for operations with as few as one employee up to those earning $30 million in revenue
- It offers versatile insurance options including a waiver of subrogation and a range of employer liability limits
- Occasional international travel insurance with expanded coverage is available through Chubb’s foreign package policy
- Medical management support, including nurse case managers, provide medical expertise and advice to the company’s adjusters.
Chubb is known for its world-class claims service. They make it easy to file a claim, get answers to questions and access forms and other resources online. The firm is also renowned for its technical expertise in claims management, knowing the nuances of Massachusetts regulations.
Some other things that make Chubb an attractive workers’ compensation provider include its:
- Preferred provider network that makes it easy to access quality medical care at reasonable rates all over Massachusetts
- Return-to-work program that helps speed employee recovery times
- Pharmacy benefit management program focused on patient safety
- Medical bill re-pricing based on the Massachusetts fee schedule, which includes preferred provider network discounts
- A dedicated Special Investigative Unit (SIU) to identify fraud.
- Chubb makes it easy to get a business insurance quote online.
All these features make Chubb our top provider for workers’ compensation coverage in Massachusetts.
Nationwide: Our top choice for construction and contracting businesses
Nationwide is one of the largest insurance companies in the United States. It offers workers’ compensation insurance for small and large businesses in all industries, but is best known for its packaged options designed for construction and contracting businesses, both for general contractors and independent contractors. These packaged solutions make it easy to bundle different types of business insurance, including professional liability, business vehicle and contractor equipment insurance with workers’ compensation coverage.
How committed is Nationwide to businesses in the construction and contracting industry? It has developed a suite of business resources that help companies in these risky industries run their operations more safely and effectively. The suite, which is made available for free to Nationwide customers, includes fleet safety information, courses on preventing slips and falls and tips on handling payroll and taxes.
Nationwide has been around since 1926. It has a solid reputation and is known for its high level of customer satisfaction. Nationwide’s online quote system is a bit undependable, but you can get a quote over the phone. If you own a construction or contracting business, you should consider Nationwide as your workers’ compensation provider.
Hiscox: Our top choice for small businesses with unique insurance needs
Hiscox also makes it easy to add workers’ compensation coverage to its base Business Owners Policy, along with other types of business insurance. It’s relatively simple to get a quote online.
If you choose Hiscox for your workers’ compensation and other business insurance needs, you can rest assured knowing you’re entrusting your employees and business to a firm that’s been in operation since 1901. It specializes in small business insurance and more than 400,000 smaller companies choose Hiscox for their insurance needs.
They are known for tailoring unique insurance solutions to the individual requirements of most small businesses. Hiscox also offers top service, providing fast quotes, instant coverage, and quick claims processing.
Cerity: Our top choice for low-cost, high-quality workers’ comp coverage in Massachusetts
Cerity makes our list of top workers’ compensation providers because it’s a firm that specializes in the coverage. It currently does not offer a Business Owners Policy or other types of insurance. It’s a relatively low cost provider that still offers a high level of service. Policies start as low as $25 per month and the company has fewer fees than most insurers. Cerity makes it fast and easy to get a quote online.
Cerity isn’t low cost because it cuts corners. It actually uses artificial intelligence to increase speed and efficiency. However, everything at Cerity isn’t technology based. When you need help, you will have access to a team of licensed policy and claim experts. You can rest assured knowing Cerity has been in business for more than a century and is rated highly by their clients.
What you need to know about workers’ compensation insurance in Massachusetts
No matter how many people your business employs, you need workers’ compensation coverage. The state’s workers’ comp system helps protect Massachusetts workers and employers.
Benefits for workers
When it comes to your employees, workers’ compensation coverage provides benefits when they’re injured or become sick because of a work-related incident. Workers’ comp helps pay for any necessary medical care required because of on-the-job injuries or illnesses. It also partially compensates people who work for you for lost wages after the first five calendar days of a work-related disability or illness.
Benefits for employers
When it comes to your business, workers’ comp limits your liability for workplace-related injuries or illnesses that cannot be traced back to willful negligence by you. It can help you sleep better at night knowing you’re less likely to have to pay expensive medical bills or salaries for people who are unable to work because they’re disabled or sick.
The Massachusetts workers’ comp system
The Massachusetts Department of Industrial Accidents (DIA) administers the workers’ compensation program in the state. The DIA does not set workers’ compensation insurance rates or class codes, which help determine workers’ comp premiums. Instead, that’s handled by the Workers’ Compensation Rating and Inspection Bureau of Massachusetts (WCRIBMA).
The DIA is the court system for workers’ comp cases, providing support to everyone involved in an incident, including:
- Sick and injured workers
- Insurance companies.
The DIA ensures that every employer in Massachusetts has the right workers’ comp coverage to protect them and their employees.
Massachusetts workers’ compensation insurance requirements
The Massachusetts Workers’ Compensation Act requires employers in the state to cover all workers at all times, including:
- Medical care for injuries or illnesses that are work related
- Partial wage replacement for employees who must take time off to recover from a job-related injury or sickness.
You’re required to carry workers’ comp coverage for all employees, no matter how much time they work each week. You also need it for yourself if you work as an employee at your business. An exception to this is for domestic service workers. They need to work a minimum of 16 hours per week for workers’ comp coverage. Also, sole proprietors do not need to purchase workers’ comp insurance.
The proof that you have workers’ compensation insurance is a Notice to Employees poster that you must hang prominently in your workplace. It should include the name of your workers’ comp insurance provider and be translated into all the languages spoken by your employees. Your insurance company can give you additional guidance on this requirement.
The state’s Department of Industrial Accidents also has an online tool that lets your workers check to see if your workers’ comp coverage is current.
What workers’ compensation insurance covers in Massachusetts
The insurance helps cover:
- Accidents that happen at work. For example, if an employee is stocking shelves at your shop, falls and breaks his leg, workers’ comp can help pay related medical costs.
- Illnesses that result from poor working conditions or exposure to chemicals or allergens while at work.
- Work-related repetitive injuries. An example of this is carpal tunnel syndrome.
- A portion of wages when a worker gets hurt or becomes ill because of a job-related incident or situation and needs time off to recover.
- Ongoing care, including surgeries or physical therapy if an employee suffers a severe long-term injury.
- Funeral costs if someone dies in a job-related accident.
- Disability benefits if a worker is disabled due to an incident in the workplace.
Filing workers’ compensation claims in Massachusetts
To file a claim in Massachusetts, visit your insurance provider’s workers’ compensation claims page, where you should find the forms and tools you need.
When you file a claim, have the following information available:
- Exact date of the injury, illness or death
- Type of injury or illness
- Impacted body parts
- First and fifth day your employee missed work
- Doctor your employee is seeing.
Employees are allowed to appeal a claim that gets denied by the Massachusetts DIA.
How much does workers compensation insurance cost in Massachusetts?
On average, workers compensation insurance cost in Massachusetts is $0.73 per $100 payroll, which is in the lower end of the cost spectrum for all 50 states.
Workers compensation insurance costs vary and depends on the following factors:
- the industry, which is usually based on the classification codes
- the location, the cost varies by states
- total payroll, the more employees you have, the more experience your company’s workers compensation insurance is
- safety standard or procedures at your company
- your company’s claim history
Different insurance companies may have different quotes, be sure to shop around with a few companies to compare quotes to select the best and the cheapest for your company. Another convenient way to compare several quotes is to work with a digital broker like CoverWallet. They are able to pull several quotes for you to compare in one place.
How to find cheap workers compensation insurance in Massachusetts?
Finding cheap workers’ compensation insurance in Massachusetts really depends on your claims history and your payroll. It’s always possible to find different rates, especially if you choose an insurer that focuses solely on covering workers’ compensation, like Pie Insurance. You can also find affordable insurance through internet based insurers compared to the more traditional brick and mortar institutions.
As you see above, the cost of workers compensation insurance for the same company in Georgia varies significantly across providers. So make sure you shop around with a few companies or a digital broker like CoverWallet to compare several quotes to select the cheapest one for your company.
It can also pay to ask about any discounts on the insurance policy with an agent. Some insurance companies will provide discounts for having safety policies and return-to-work policies in place. You may also get a discount if you choose to bundle multiple insurance policies with the same insurer.
Lastly, the cost of worker compensation insurance depends on the classification codes of your employees. Construction workers have much more expensive workers compensation insurance than clerical workers, so make sure you classify your employees into the correct codes and remember to update the codes when your employees change the nature of their work.
How is Workers’ Compensation Insurance Different from General Liability Insurance?
While general liability insurance also covers medical payments and settlement costs for injuries, it is very different from workers’ compensation insurance. A general liability policy is meant to cover costs associated with third-party injuries that are received on company property or at a worksite. The third-parties being any person who isn’t the business owner or an employee.
Workers’ compensation covers injuries to your employees that are received on-the-job, whether at a worksite, in travel, or on the business property.