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Vermont is an NCCI state for Workers' Compensation purposes. This means it partners with the National Council on Compensation Insurance to determine rates on all business classification codes and to administer the assigned risk for the state.
There are currently only 25 insurance companies actively providing workers compensation quotes in Vermont. Most states have a couple hundred who quote within the state. This lack of competition and the fact that there is no assigned risk partner to compete with the open market cause rates in Vermont to remain high.
At Workers Compensation Shop.com, we are a nationwide provider who partners with more than 30 insurance carriers. Because we partner with so many carriers we can shop your policy around and make carriers compete for your business. Our agents are experts at finding rebates and discounts some other agencies may not have access to. Because we specialize in workers' comp we are confident we can get you the best rates in the industry.
Division of Workers' Compensation and SafetyNational Life Building, Drawer 20Montpelier, Vermont 05620-3401802-828-2286
What is Workers' Compensation?
The basic purpose of the Workers’ Compensation is to provide wage replacement benefits and medical treatment for employees who have been injured or become ill due to a work-related injury or illness. It prevents the employer from bearing the costs of injuries that occur during normal business operations.
Vermont partners with the National Council on Compensation Insurance (NCCI). NCCI gathers data, analyzes industry trends, and prepares objective insurance rate and loss cost recommendations. NCCI is the nation’s most experienced provider of workers compensation information, tools, and services. Vermont uses NCCI to determine rates on workers' compensation coverage and to administer the assigned risk for the state. If your business for any reason cannot find coverage on the open market the assigned risk will offer coverage. Coverage in the assigned risk is normally higher than the open market.
How does workers' comp help my business?
Your business benefits from workers' compensation coverage, by not being liable for injuries that occur as a part of normal business operations. This applies whether the injury was the fault of the business or was caused by negligent actions of the employee. You can move forward with your business operations knowing that if one of your employees is injured because of something that happens as a normal part of your business operations, your business is not liable for the costs.
How does workers' comp help my employee?
Employees benefit from workers' comp coverage by having lost wages covered while they are hurt or sick and not able to work. It also pays for medical costs they might incur as a result of the sickness or injury.
The Vermont DFR “encourages” insurers to be flexible with premium payment plans and premium deposit requirements for businesses temporarily closed due to CV and to consider premium payment delays/reduction to help insureds maintain coverage.
Discretionary order in effect from 03/24/2020 until further notice.
No current state orders.
Specialized Programs for Select Industries
We work with our national insurance partners to develop targeted programs with easier underwriting
requirements and lower rates. We offer a broad range of business class codes that help streamline the
quote process so you get the lowest price for coverage.
Easy Workers' Comp Insurance Programs
Save money and get better coverage faster.
Pay As You Go Work Comp
See how Pay As You Go coverage helps with cashflow.
Penalties for Employers
Any employer who fails to provide workers compensation coverage may be assessed a penalty of $50.00 per day without coverage, up to $5,000.
If coverage is not purchased within 5 days of receiving a non-compliance notice, the penalty jumps to $150 per day. Employers are also liable for claims and may have their business closed for repeated offenses.
Let Workers Compensation Shop.com help your business navigate workers' comp insurance in Vermont.
From ownership rules, class code reviews, to managing audits & claims, we've got your
Our technology matches your business with insurance companies most likely to offer the best
We leverage our experience and relationships to negotiate your lowest workers' comp rates.
No carrier quotes every class code. That's why we've built a diverse group of great
Employers liability insurance is an additional layer of coverage included as part of a workers' compensation
insurance policy. Employers Liability is known as Part 2 of the policy. It adds two additional coverages for employers:
Employers Legal Liability and Legal Defense Costs
In today's world, there are a variety of reasons employees and third-parties sue employers for damages. Here a
some common types covered by employers liability insurance:
Third Party Lawsuits
Your employee sues another party that may have contributed to the injury, In turn, the third party sues your
Consequential Bodily Injury
Another party or individual is injured while providing care for the injured employee.
Dual Capacity Legal Action
An employee files a claim but also attempts to sue the employer for being responsible in other ways outside of
the employment relationship.
Loss of Consortium
A spouse sues for damages caused by the loss of companionship or relations.
Employers Liability coverage is not included with coverage in the four monopolistic states. Employers
in these states can endorse this coverage onto their General Liability policy. That coverage is commonly known as Stop Gap
Get more information about workers' compensation in Vermont:
Workers Compensation Info
Workers Comp Programs
National Broker Services