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Employers with one or more full-time, part-time, seasonal, or occasional employees are required to purchase workers' compensation coverage. Workers' Compensation is required to be in place the first day the first employee is hired.
Sole-Proprietors, Partners, Corporate Officers and LLC Members are all excluded from coverage, but can elect to be included in coverage.
Corporate Officers who own more than 10% of stock of a corporation are excluded from coverage, but may elect to be included for coverage.
Several exemptions exist for the workers compensation requirement including household domestic service workers, pilots of agricultural spraying or dusting planes, real estate brokers and salespersons paid solely on commission, officials of athletic contests at secondary schools and volunteer ski patrollers.
Sole-Proprietors and Partners who include themselves on workers compensation coverage must use a payroll amount of $13,000 for rating purposes.
Officers and LLC Members who are included in coverage must utilize a minimum payroll of $750 per week ($39,000 annual) and a maximum payroll of $3,000 per week ($156,000 annual) for rating purposes.
Every state has their own rules for how employees must be covered and how they must be classified for rating purposes. A lot of states use state specific class codes and have different requirements for who is obligated to carry workers' compensation insurance coverage.
If you have employees that travel out of state for work, or they work in multiple states throughout the year, you may need to purchase insurance for all the states where your workers are located and working. In most cases, you can add multiple states to one policy.
Workers' Compensation Insurance in Idaho can be purchased from private insurance companies authorized by the state to provide coverage. The Assigned Risk Pool, or State fund coverage, is available for employers who are unable to find coverage from a private company. WorkersCompensationShop.com can help you navigate your best options.
Policy premium is based on numerous factors including: class codes assigned to your business and employees, estimated payroll, covered states, prior policies, owner experience and claims.
We've developed Pay As You Go worker compensation programs that reduce or eliminate premium deposits and allow Idaho employers to report and pay premium based on actual payroll wages. Reduce your audit risk.
We've negotiated special terms with many of our insurance partners to offer more flexible payment options like 12 equal installments plans and monthly reporting programs to help improve cash flow for our business owners.
Idaho rates have risen steadily since 2015. The national rankings for Idaho have gone from the 29th to the 14th most expensive state in the country to purchase workers' comp coverage. We help you save on work comp by shopping your rates.
In Idaho, rates on Workers' Compensation Insurance are 9 percent higher than the national average. They have risen steadily since 2015 and should continue to climb. Rates on Idaho Work Comp Coverage currently make it the 14th most expensive state to purchase coverage.
Need Help With Idaho Class Codes?
Insurance rates vary significantly between NCCI classification codes. Let our ID Workers Compensation Specialists help you determine your correct workers compensation class codes before you buy a policy. We'll help make sure your business is properly covered.
Faster Workers Comp Quotes
We make the process of getting workers compensation quotes fast and easy. We know your time is valuable. That's why we work harder to streamline the quote process, compare your rates and coverages, and present your best options as quickly as possible. We often have your insurance quotes ready in less than 24 hours.
Shop Over 35 Insurance Carriers
We're a National Agency, and we have tons of carriers offering work comp in Idaho. We have access to over 35 insurance companies with a diverse appetite and competitive rates. Our markets know we expect the lowest rates, bigger discounts, and more policy credits when we request a quote.
THE RIGHT QUOTE MAKES A DIFFERENCE.
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