Arkansas Workers Compensation

Employers around the country are required to carry workers compensation insurance for their employees, with few exceptions. Understanding what this insurance is and how it applies in the state of Arkansas will help you find the best coverage possible for your business.

What is Workers Compensation Insurance

Simply put, workers compensation insurance covers your employees and protects your business in the event of an accident while your employees are on the job. Coverage includes medical and rehabilitation costs and any lost wages for employees injured while on the job. Workers comp covers employees who experience job-related illnesses, as well. By carrying this coverage, you’ll make sure your employees are taken care of after an injury or illness without bankrupting your business to do so.

Workers compensation coverage applies to the state where your employees work, not necessarily where your business is located or was founded. If you have employees that work in multiple states, you will need to make sure your coverage meets all of the state requirements. Your payroll determines the cost of your Arkansas workers compensation insurance – the number of employees, the classification codes you use, the type of business you operate, and any prior claims that have been made.

You’ll need to work closely with your insurance agent to make sure you purchase the right policy for your business.

Workers Compensation Coverage in Arkansas

Every state is unique, and Arkansas is no different. Your insurance agent will be able to help you navigate the specifics of Arkansas workers compensation coverage.

  • Workers compensation is required for Arkansas businesses with three or more employees.
  • Excluded from workers compensation are businesses with two or less employees, farm laborers, and real estate agents.
  • Sole proprietor or partners are excluded but can be included in coverage.
  • Corporate officers or members of LLCs are automatically included in workers comp coverage but may exclude themselves.
  • Business owners who fail to carry workers comp can face penalties and fines.
  • If you’re caught making false statements about the payment of workers compensation benefits, you could be charged with a Class D Felony and fined up to $10,000.
  • Small deductibles are available up to $2,500 for businesses. Large deductibles in varying amounts are also available.
  • On-the-job accidents resulting in injury or death must be reported to the Arkansas Workers Compensation Commission.
  • Statutory workers compensation policies include employer liability coverage. The normal limits of this coverage are: $100,000 by accident, $100,000 by disease, and $500,000 total.
  • Insurance companies must provide policyholders with accident prevention services at no additional cost.

How to Get Workers Compensation Insurance Coverage for Your Arkansas Business

The best option for businesses is to work with an independent insurance agent who has access to multiple providers. Doing this will make sure you’re getting the best price and the best coverage for your business needs. You can request a quote for your workers compensation coverage in Arkansas from the team at America’s Workers Compensation.

We’ll work with you to understand your business, your employees, and your needs to find the best coverage possible. Protect the business you’ve worked so hard to build and your employees who have made your dream a reality. Find the right workers compensation policy for your company today. Let us help you.

Get A Quote Today!

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