Best Workers' Compensation Insurance in Nebraska (2024)

We considered coverage options, affordability, and customer satisfaction when determining Nebraska's best workers' compensation insurance. Among the competitors, Pie emerged as the best overall company.

Small business owners need workers' compensation insurance to meet state requirements and ensure coverage for work-related illnesses and injuries. The Hartford, with an average monthly cost of $147, offers the necessary protection and peace of mind for small business employers and employees in Nebraska.

The Hartford is the top-ranked company for workers' compensation insurance in Nebraska, earning an impressive MoneyGeek score. With an average monthly cost of $147, this insurer provides comprehensive coverage and competitive pricing.

Small business owners in Nebraska need workers' compensation insurance to meet state requirements and protect employees by covering the costs of work-related illnesses and injuries.

Pie is the cheapest company in Nebraska for workers' compensation insurance, averaging $100 per month. This affordability is particularly advantageous for businesses with 20 employees and $1,250,000 in annual payroll costs. The number of employees and the payroll amount play a significant role in determining insurance costs.

Businesses should [consider these factors]. (#factors-that-impact-workers-comp) when selecting an insurance provider and ensuring adequate coverage.

The Hartford is the best company for micro businesses—in this case, meaning businesses with five employees. It offers a monthly premium of $60 based on an annual payroll amount of $312,500. Businesses with one to nine employees are typically considered micro businesses, and five is right in the middle of that count.

While employee count plays a role in workers' compensation insurance costs, payroll has a greater impact. Its competitive rates make it an attractive option for Nebraska micro businesses seeking comprehensive workers' compensation coverage.

Pie Insurance is the top choice for businesses with 100 employees and an annual payroll of $6,250,000, with a monthly premium of $437.

The higher number of employees increases the cost, but not as much as the upped payroll dollars do. Consider both factors when evaluating insurance needs.

Pie Insurance offers competitive pricing for midsize businesses' payroll and employee count, making it a solid option in this category.

For a Nebraska business with 20 employees, the average monthly workers' compensation insurance cost is $193. This is slightly higher than the national average of $168 per month. Workers' compensation insurance costs depend on factors like industry, claims history and location.

When considering workers' compensation insurance, you must understand the policy limits. In this case, the policy limits are:

• $1 million for the total policy
• $1 million per accident
• $1 million per employee

"Total policy limit" refers to the maximum amount the insurer covers for all claims within the policy period. The "per-accident limit" is the most the insurer would cover for a single incident, and the "per-employee limit" is the max the insurer would pay for an individual employee's claim. You can see it's important to keep a safe workplace, even with excellent workers' comp insurance, so one big issue doesn't clean you out!

Employee count and payroll impact the cost of workers' compensation insurance. As shown in the table below, the average cost of workers' compensation insurance increases with a larger number of employees because more employees generally translate to a higher risk of work-related injuries or illnesses. Additionally, payroll is used as a basis for calculating the premiums; the larger the payroll, the higher the premiums are likely to be.

Factors like payroll costs, number of employees, employee class codes and previous claims affect workers comp insurance costs in Nebraska.

In Nebraska, workers' compensation insurance requirements apply to most employers.

Most businesses regularly employing one or more full- or part-time individuals must provide workers' compensation. Some exemptions exist for specific categories of workers, like certain farm laborers, domestic servants, independent contractors, and some very small businesses.

To determine if a specific worker or industry is exempt from workers' compensation coverage, refer to the Nebraska Workers' Compensation Court or consult legal resources for further information.

Additional details on exemptions and requirements can be found on the Nebraska Workers' Compensation Court's website. Employers need to understand their obligations and ensure compliance with workers' compensation laws.

Workers' compensation insurance provides significant benefits for employees who experience work-related injuries or illnesses. These include:

• Medical care coverage: It covers the costs of necessary medical treatment, including hospital stays, surgeries, medications and rehabilitation services.
• Disability benefits: Injured or ill employees may be eligible for disability benefits, which can replace some lost wages during recovery.
• Lost wages coverage: Workers' comp insurance may provide income replacement for employees who can’t work because of a work-related illness or injury.
• Vocational rehabilitation: In some cases, workers' comp insurance covers vocational rehabilitation services to help injured employees return to suitable employment if unable to continue their previous job.
• Death benefits: If an employee dies due to an injury or illness gotten at work, workers' comp insurance can provide death benefits to the employee's dependents.

The employer is the policyholder for workers' compensation insurance, and this coverage plays a crucial role in protecting and supporting employees in the event of work-related injuries or illnesses.

The oversight of workers' compensation in Nebraska is carried out by the Nebraska Workers' Compensation Court, which ensures employees receive benefits under the state's workers' compensation laws.

To claim compensation benefits, employees in Nebraska should take the following steps:

• Promptly report the work-related injury or illness to their employer.
• Seek medical treatment from an authorized healthcare provider.
• Complete the required claim forms from their employer or the Nebraska Workers' Compensation Court.
• Submit the completed forms and necessary documentation to the employer or insurance company.
• Fully cooperate with any investigations or examinations related to the claim.

Here are the answers to frequently asked questions about workers' compensation insurance in Nebraska.