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In Nevada it is required by law to provide workers' compensation coverage if you have one or more employees.
Sole Proprietors and Partners are excluded from coverage, but may elect to include themselves for coverage.
A Sole Proprietor having no employees may elect to include him or herself for coverage. If there are any employees who work for the Sole Proprietor than he/she must provide coverage for them.
Sole Proprietors acting as contractors must secure coverage.
Corporate Officers and LLC Members are included in coverage, but may elect to be exempt.
Overtime, tips and severance is not deducted from the cost or workers' comp coverage.
Sole-Proprietors and Partners who include themselves on workers compensation coverage must use a payroll amount of $15,600 per year for rating purposes. There are some exceptions to this rule and it is best to consult with the Nevada Department of Business and Industry. The minimum payroll basis for contractors is $26,000.
Officers and LLC Members who are not excluded from coverage must utilize a minimum payroll of $6000 per year and a maximum payroll of $36,000 per year for the purpose of rating workers comp premium.
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 Nevada 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 Nevada 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.
We're a national insurance agency with more carriers and a stronger focus on workers compensation insurance. When working with us, you get the power of more leverage and more quote options when you decide to quote with us.
Nevada Work Comp Rates
Workers' Compensation rates in Nevada are some of the cheapest in the country. As of 2018 they are 32 percent lower than the national average. Still many employers miss out on several cost saving programs available to their business. Don't spend too much on your coverage. Call today to see how we can help your business 888-611-7467.
Need Help With Nevada Class Codes?
Insurance rates vary significantly between NCCI classification codes. Let our NV Workers Compensation Specialists help you determine your most accurate and inexpensive workers compensation class codes before you buy a policy. We'll help make sure your business is properly covered and you get the very best price for coverage.
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.
Shop Over 35 Insurance Carriers
We're a National Agency, and we have tons of carriers offering work comp in Nevada. 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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