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Is Workers' Comp Required in Indiana

Indiana Workers Compensation Requirements

    In Indiana employers are required to purchase workers compensation coverage if they employ one or more workers.

    Sole Proprietors, Partners and LLC Members are all excluded from coverage, but have the option to be included.

    Corporate Officers are included in coverage, but may elect to included.

    Indiana requires Contractors in the building and construction trades to become certified with the Indiana Workers' Compensation Board.

Workers' Comp Exemptions in Indiana

    Sole Proprietors, Partners, Corporate Officers and LLC Members who are included for workers comp coverage must do so at a payroll between $39,000 and $187,200 annually.


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How is Workers Comp Calculated?

Workers' compensation is a commercial insurance product categorized as Property & Casualty insurance (P&C Insurance). Even though workers comp is calculated using estimated payroll wages and class codes, premium is still a separate business expense from the cost of payroll. Business owners may treat the cost of coverage as an expense on their taxes.

Work comp rates for all job classification codes are always expressed as a percentage of $100 in wages. An annual policy is always subject to an audit because it was based on estimated wages and not actual wages.

Here is an example using two class codes with different estimated payroll for each class code:

Class Code Insurance Companies Rate Per $100 Estimated Annual Payroll Divide Payroll by 100
8810 Clerical $0.28 base manual rate $25,000  (25000 divided by 100) 250
8835 Home Health Care $1.75 base manual rate $100,000  (100000 divided by 100) 1000

In order to calculate the cost of the policy you only need to multiply each rate with its divided payroll. It benefits employers to re-calculate their premium as their payroll becomes larger than originally anticipated.

Class Code Workers Comp Calculator Estimated Premium
8810 Clerical $0.28 X 250 $70.00
8835 Home Health Care $1.75 X 1000 $1,750.00
Workers' Compensation Laws Vary by State

Every state has their own rules for how employees must be covered and how they must be classified for rating premium. 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 Indiana can be purchased from private insurance companies authorized by the state to provide coverage. The Assigned Risk Pool, or State Insurance Fund, 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 previous insurance claims.

Enjoy the benefits of our Pay As You Go Workers' Comp Options in Indiana.

$O Deposit or Minimum Down

We've developed Pay As You Go workers compensation programs that reduce or eliminate premium deposits and allow Indiana employers to report and pay premium based on actual payroll wages. Protect your business from audits.

Lower Monthly Payments

We've negotiated special deals with many of our insurance partners. We offer more flexible payment options, like 12 equal installments plans and monthly reporting programs, to help improve cash flow for our business owners.

Indiana Comp Specialists

We're a national agency, but Indiana is one of our top states for workers comp coverage. That's because we partner with over 35 insurance companies who specialize in workers compensation. They're eager to quote your coverage.

Indiana Workers Compensation Insurance Quotes

IN Workers' Comp Specialists

Indiana is the second cheapest state in the country for buying Workers Compensation Insurance. Many employers still pay too much for their coverage by not taking advantage of all the programs and credits available. At Workers Compensation Shop.com we can save you money on your Workers' Compensation Insurance Policy. Start an online quote to find the many ways we can help your business.

Help with IN Class Codes

Insurance rates vary significantly between NCCI classification codes. Let our IN 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. Call now to talk to an expert about all the many ways we can help your business 888-611-7467.

Fast 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.

Compare Rates With More Carriers

We're a National Agency, and we have tons of carriers offering work comp in Indiana. 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.

A BETTER WAY TO BUY
WORKERS' COMPENSATION INSURANCE
Did you know that the cost of a workers comp policy in Indiana can vary significantly between insurance company, underwriter, and insurance agency?
Find the best deal on workers compensation insurance.
Visit NCCI for more resources and information about workers' compensation class codes. Visit United States Department of Labor for more information about government agencies managing workers compensation insurance rates.

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