Workers’ compensation insurance is designed to cover the costs associated with injuries and illnesses that your employees may experience on the job. In Tennessee, any businesses with at least five employees, and all businesses in the construction and coal mining fields, are required to carry this insurance. Family members and part-time workers are included in the overall employee count.
In Tennessee, the cost of workers’ compensation insurance is only slightly higher than the national average. Rates are based on your business industry, the number of employees you have and the types of jobs they do, and your company’s overall payroll. While the rates for each job category are regulated by the Tennessee Department of Labor & Workforce Development, policies are issued by commercial providers, who are permitted to offer discounts of up to 25%. This means shopping around for the best price can potentially save your business a lot of money.
Our new business required us to have workers' comp insurance, so we shopped around until we found TrustedChoice. Their agent was able to walk us through the process and find us everything we had on our list. This was a good company to work with.Paige of Jackson, TN Consumer Affairs
Workers’ compensation is designed for employees and employers alike. Employees can rest assured that treatment for their injuries and time off work for recuperation will not cause them large financial losses. Employers can avoid costly lawsuits related to these injuries. You can expect a standard workers’ compensation policy in Tennessee to cover the following:
There are currently 366 independent insurance agencies in Tennessee ready to help. These agents can answer your insurance-related questions, explain your coverage options, and assist you with finding the best workers’ compensation insurance policy to cover your particular company. Contact an agent near you to start comparing customized workers’ compensation insurance quotes.