Workers’ Comp Made Simple: A Guide for Small Businesses

Accidents can happen in any workplace—even in low-risk industries. Workers’ compensation insurance provides financial protection for both your business and your employees when injuries or illnesses occur on the job.

What Is Workers’ Compensation Insurance?

Workers’ compensation (often called “workers’ comp”) covers medical expenses, lost wages, and rehabilitation costs for employees who get injured or become ill due to their work. In exchange, it helps protect employers from costly lawsuits related to workplace injuries.

Why It’s Important

• Legal Requirement: Most states, including North Carolina, require businesses with employees to carry workers’ comp.
• Employee Protection: It ensures your team gets proper care and wage replacement during recovery.
• Business Protection: It helps safeguard your business from financial strain and legal claims.

What It Covers:

• Medical treatment for job-related injuries
• Lost wages during recovery
• Disability or rehabilitation support
• Death benefits for dependents (if applicable)

Cost Overview

The cost depends on factors like industry risk, number of employees, and payroll size. On average, small businesses may pay between $1.00–$2.00 per $100 of payroll, but rates vary by state and job type.

The Bottom Line

Having workers’ compensation insurance gives peace of mind to both employers and employees. It keeps your business compliant and your team protected—two essentials for long-term success.

Take care of your team and stay compliant. Talk to Tillman Insurance Advisors about affordable workers’ comp coverage.