MoneyGeek conducted a comprehensive analysis of workers' compensation insurance providers in Pennsylvania, evaluating key factors such as affordability, customer satisfaction, financial stability and the online quote process. Nationwide emerged as the top option in the state.

Pennsylvania law mandates that businesses must have workers' compensation insurance if they employ one or more individuals. This coverage protects your business from potential financial and legal liabilities that may arise from work-related illnesses or injuries sustained by your employees.

Loading...
Loading...

Best Workers’ Compensation Insurance in Pennsylvania

Nationwide offers the best workers’ compensation insurance in Pennsylvania. With an impressive MoneyGeek score of 96 out of 100 and a competitive average monthly cost of $91, it is the most affordable option. Note that actual costs may vary based on factors such as the number of employees.

Loading...
Loading...

Cheapest Workers’ Compensation Insurance in Pennsylvania

In Pennsylvania, Nationwide stands out as the most affordable insurance provider, offering an average monthly premium of $91 for businesses with 20 employees and an annual payroll cost of $1,250,000. It is important to note that this rate may vary depending on the number of employees and the annual payroll of your specific business.

Loading...

While we used average monthly costs as a basis for ranking the best workers’ compensation insurance in Pennsylvania, it is crucial to consider that the best option for your small business may depend on your specific priorities. Provided below is a table that ranks the companies we assessed in Pennsylvania, showcasing both annual and monthly costs for insuring a business with 20 employees.

Loading...

Best Workers’ Compensation Insurance for Micro Businesses in Pennsylvania

biBERK emerges as the top choice for workers’ compensation insurance in Pennsylvania for businesses with five employees and an annual payroll of $312,500. With a monthly premium of $54, biBERK provides an outstanding insurance package.

Premiums may vary depending on the number of employees, but the payroll amount holds a more significant influence on determining the premiums. Note that businesses with one to nine employees are generally classified as micro businesses.

Loading...

Best Workers’ Compensation Insurance for Midsize Businesses in Pennsylvania

biBERK is the leading choice for midsize businesses in Pennsylvania that employ 100 individuals, providing a monthly premium of $429. This premium is calculated based on an annual payroll amount of $6,250,000. Although the number of employees plays a role in determining workers' compensation insurance costs, the payroll amount typically carries greater weight when determining premiums.

Loading...

How Much Is Workers’ Compensation Insurance in Pennsylvania?

Businesses with 20 employees can expect to pay an average monthly cost of $125 for workers’ compensation insurance in Pennsylvania. This amount is notably lower than the national average, which stands at $168 per month.

We established these policy limits to calculate the associated costs:

  • $1 million total policy limit
  • $1 million per accident limit
  • $1 million per employee limit

The total policy limit of $1 million represents the maximum coverage provided for all claims collectively under the workers' compensation insurance policy. The per-accident limit denotes the highest amount the insurer would reimburse for a single incident, while the per-employee limit signifies the maximum coverage accessible for each individual employee.

Referencing the table below, you can see the average expenses of workers' compensation insurance for businesses with five, 20 and 100 employees. This highlights the impact of employee count and payroll on the associated costs.

Loading...
Loading...

Factors That Impact Workers’ Compensation Costs in Pennsylvania

The cost of workers' compensation insurance can vary for each business and is influenced by several factors, such as previous claims history, the number of employees and the payroll costs involved.

Loading...

Do You Need Workers’ Compensation Insurance in Pennsylvania?

In Pennsylvania, businesses that employ one or more individuals, regardless of whether they are part-time or full-time employees, are required to have workers' compensation insurance. However, specific categories of workers, such as domestic employees and executive officers, are exempt from this coverage.

While there are exemptions in place, acquiring workers' compensation insurance in Pennsylvania is essential for safeguarding financial stability. It is advisable to verify the legal requirements with the state to ascertain the specific obligations for your unique circumstances.

Workers' compensation coverage can be obtained through various avenues in Pennsylvania, including private insurance carriers, agents, brokers or the state insurance fund. Another option is to self-insure.

scale icon
WORKERS’ COMP PENALTIES IN PENNSYLVANIA

Penalties for employers that don’t provide legally required workers' compensation insurance or comply with workers' comp laws in Pennsylvania include:

  • Pursuit of reimbursement
  • Prosecution against the uninsured employer
  • Potential criminal charges for each day of failure to maintain continuous workers' compensation coverage

What Does Workers’ Compensation Insurance Cover in Pennsylvania?

Workers’ compensation insurance in Pennsylvania offers benefits to employees who experience job-related injuries or illnesses, with the employee serving as the policyholder. While the exact benefits can differ across states, they generally encompass:

  • Medical care: Under workers' compensation insurance, the expenses related to work-related injuries or illnesses can be covered, including medical care costs such as doctor's visits, hospital stays and prescribed medications.
  • Lost wages: Workers' compensation insurance can offer wage replacement benefits to employees who are unable to work due to work-related injuries or illnesses, ensuring they receive a paycheck during their period of incapacity.
  • Death benefits: In the event of an employee's death due to a work-related injury or illness, workers' compensation insurance can offer both a lump sum payment and ongoing financial support to the dependents of the deceased employee.

Workers’ Compensation Insurance Resources for Employees in Pennsylvania

The Department of Labor and Industry oversees workers' compensation in the state. To file a claim and receive workers' compensation benefits in Pennsylvania, employees can follow these steps:

  • Report the injury or illness to your employer.
  • Seek medical attention from an approved healthcare provider.
  • Complete the required claim forms.
  • Submit the claim forms to your employer or their insurance carrier.
  • Follow up with your employer regarding the claim.
  • Cooperate with the insurance carrier's inquiries.
  • Await a decision on your claim.

Frequently Asked Questions About Workers’ Compensation Insurance in Pennsylvania

To help you select the best workers’ compensation insurance provider in Pennsylvania, we answered commonly asked questions regarding finding suitable coverage. This information will aid you in making an informed decision.

Nationwide is the top choice for workers’ compensation insurance in Pennsylvania, offering affordable coverage and good financial stability. Keep in mind that the specific insurance costs for your business will depend on various factors, including location, payroll and the number of employees.

Nationwide stands out as the most affordable workers’ compensation insurance provider in Pennsylvania, offering coverage at an average monthly cost of $91. It's important to note that the cost of workers' compensation insurance can fluctuate based on factors such as the business's location, payroll size and number of employees.

In Pennsylvania, businesses with one or more employees, regardless of their employment status (part-time or full-time), are typically required to carry workers' compensation insurance, which includes coverage for family members. However, certain groups of workers might be exempt from this requirement.

Workers' compensation insurance costs in Pennsylvania are influenced by factors such as business size, payroll size and industry. For businesses with 20 employees, the average monthly cost of workers' compensation insurance is $125, offering significant savings compared to the national average of $168 per month.

About Melissa Wylie


Melissa Wylie headshot

Melissa Wylie is a Content and SEO Manager at MoneyGeek. Melissa has worked in the financial content space since 2018 and has spent much of that time focused on all things small business.

Prior to joining MoneyGeek, Melissa held SEO positions at Bankrate and LendingTree. Melissa’s work has also appeared on LendingTree-owned websites ValuePenguin and MagnifyMoney.

Melissa began her career at American City Business Journals in 2015 as a reporter for the company’s women-focused publication Bizwomen. Melissa has a Bachelor of Arts in Journalism from the University of North Texas. Melissa relies on her foundation in journalism to craft content that simplifies complex financial topics to help everyone feel confident when making decisions with their money.

Melissa's other work can be read on LendingTree and Bizwomen.


sources