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Workers’ Compensation Insurance

For most businesses across the nation, workers’ compensation insurance is mandatory coverage for medical expenses and lost wages for employees injured on the job. Paychex Insurance Agency can help you find compliant coverage and stabilize your business cash flow.

Workplace Injuries Can Seriously Hurt your People and Productivity

Injuries on the job can happen at any time, even if you have employees working from home. This could expose the business to an increase in workers' comp claims. Employee illness as a result of performing work-related duties could also pose potential risks to businesses. 

Consider that in 2020: 

  • More than 2.7 million workplace injuries and illnesses were reported by private industry employers1
  • More than 888,000 cases involved days away from work1
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Work with Top Carriers and Improve your Cash Flow

Our licensed agents can help you select a workers’ compensation insurance plan from top-tier national carriers, while our integrated Workers’ Compensation Payment Service* can give you a smarter, more cost-effective means to manage your policy.

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What's Included in Our Workers' Compensation Coverage

Coverage that fits your specific needs

We want you to have workers' comp coverage that's just right, which is why we perform an initial assessment to make sure all businesses — from small to enterprise — are fully covered.

Coverage renewal at no additional cost

Renew workers' compensation insurance each year, with no additional deposits or payments required to continue our payment service.

The right policy at the best price

Licensed Paychex Insurance Agency agents find the best coverage options and deliver a complete insurance plan at competitive pricing.

Monthly reports detail insurance expenses

We show you monthly and year-end reports that demonstrate exactly where you stand with wages, payments, and deductions.

Predictable premiums to protect cash flow

Integrating your workers' compensation policy with Paychex payroll greatly reduces your risk of big down payments, surprise premiums, financing fees, and balloon payments that otherwise impact your cash flow.

Paychex and the right workers’ compensation coverage can bring stability to your cash flow

Business Insurance to Meet Your Needs

Paychex Insurance Agency offers a wide range of business insurance policies to help protect your business and employees from costly claims and losses.

Make Insurance Easier to Manage

Paychex is the national leader in payroll, and we extend that expertise into business insurance. We integrate your policies with Paychex payroll to simplify administration and helping you maintain positive cash flow.

One Place for All Your Insurance Solutions

As a top 100 insurance agency*, we're your single stop for property and casualtyhealth and benefits, and benefits administration. Find out more about what Paychex Insurance Agency can offer you, your business, and your employees

Workers’ Compensation FAQ

  • What is workers’ compensation insurance?

    What is workers’ compensation insurance?

    Workers' compensation (or "workers' comp") provides replacement wages and medical benefits to employees injured on the job in exchange for relinquishing the employee's right to their employer for negligence.

  • What does workers’ compensation insurance cover?

    What does workers’ compensation insurance cover?

    This insurance provides benefits to employees who are injured or get sick from a work-related situation. "Workers' Comp" also includes disability benefits, wage replacement and death benefits. For employers, Workers’ Comp reduces their liability for work-related injuries and illnesses. Without this coverage, your employees can sue for their medical costs and lost wages stemming from a work-related injury or illness.

  • Why do I need workers’ compensation insurance?

    Why do I need workers’ compensation insurance?

    Most states require businesses with employees to carry workers’ compensation insurance to provide benefits to employees for work-related injuries or illnesses. Beyond offering employees health insurance, which does not cover work-related injuries or illnesses, businesses need worker's compensation to protect injured employees and cover these claims. It will also protect your business from lawsuits and keep your business compliant with state regulations.

  • How much does workers’ compensation insurance cost?

    How much does workers’ compensation insurance cost?

    Workers’ compensation insurance cost varies based on the business size, its location, its industry and its specific claims history. Also, workers’ comp rates and requirements vary from state to state. In general, for every $100,000 in payroll, the average workers’ compensation policy ranges from a few hundred dollars to a few thousand dollars per year. At Paychex, our Workers’ Compensation Payment Service can reduce or eliminate large end-of-year payments by basing your premiums on actual wages, not estimates.

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