Workers comp rules vary from state to state, but, with rare exceptions, employers must buy workers comp insurance to follow their statutory obligations to workers who are injured on the job.

The main challenges faced by businesses that are dealing with workers comp insurance involve getting workers comp insurance in the first place and then managing worker comp costs once you have insurance.

For small business workers compensation, here are some ways to get workers compensation insurance that won't break the bank, as well as ways to ensure that you are not being overcharged for workers comp coverage.

Did You Shop Around For Your Workers Compensation Insurance?

There are a limited number of workers compensation insurance providers, but it's important to get workers comp quotes from as many insurance companies as possible. You should also investigate whether your trade association offers workers compensation insurance. This can be a very good way to get lower workers comp rates and premiums.

Do Any Merit Credits Apply?

In many states, you can't get merit credits for doing things like having a drug-free work environment. This can result in a deduction for your workers comp insurance.

Is Your Workers Comp Audit Correct?

After your workers comp audit is complete, it's imperative that you double check the accuracy of the audit.

Are You In an Assigned Risk Plan?

If you are have an assigned risk policy, your workers compensation insurance rates and premiums may be very high. This is the case in many states.

If you are in an assigned risk plan, you would be well served to look for other alternatives. Call other insurance agents, investigate employee leasing options, and talk with direct-writing insurance companies.