There are approximately three million people who work in Maryland. Roughly three percent of them get hurt or sick on the job every year. That percentage might sound small, but it translates into 90,000 workers annually. That number also doesn’t include employees who are killed in work-related incidents.
In this article, we’ll cover:
- 5 best workers’ compensation insurance companies in Maryland
- How does Maryland workers’ comp work?
- Who needs workers’ comp coverage in Maryland?
- What does workers compensation insurance cover in Maryland?
- What doesn’t workers compensation insurance cover?
- How is workers compensation insurance different than general liability insurance?
- How much does workers compensation insurance cost in Maryland?
- How to find cheap workers compensation insurance in Maryland
- The most common workers compensation claims in Maryland
5 best workers’ compensation insurance companies in Maryland
We checked out countless companies that offer workers’ compensation insurance in Maryland to come up with our top five for different reasons.
- CoverWallet: Best for businesses in Maryland that want to compare quotes quickly
- Cerity: Our top choice for stand alone workers’ comp coverage in Maryland
- The Hartford: Best for businesses that want to partner with a sound and ethical insurer
- AmTrust Financial: Best for companies that need customized workers’ comp and other coverage
- biBerk: Best for low-cost workers’ compensation coverage
CoverWallet: Best for businesses in Maryland that want to compare quotes quickly
CoverWallet is a cutting-edge insurance provider. The firm has developed its own state-of-the-art platform, based on its own algorithms, to ensure it is able to connect small businesses with workers’ compensation insurance and all the types of business coverage they need, at the most reasonable price. The platform makes it quick and easy to get quotes from several providers at once, making it possible to compare quotes from highly reputable insurers all on a single screen.
The firm’s experts have used their extensive experience to make sure you only have to input the information required to generate quick and accurate quotes. The entire process should take ten minutes or less.
You can feel confident knowing that CoverWallet is a part of Aon, an established company that provides advice to businesses on things like risk, health and retirement.
Once you get your quote, CoverWallet makes it easy to purchase workers’ comp insurance online or through an agent. When you get your policy through CoverWallet, it’s simple to manage your coverage online, including downloading a certificate of insurance, filing a claim, renewing your insurance and more.
Here’s a sample Maryland workers’ compensation quote from CoverWallet.
Cerity: Our top choice for stand alone workers’ comp coverage in Maryland
Cerity makes our list of top workers’ compensation providers because it specializes in the coverage. It currently does not offer a Business Owners Policy or other types of insurance. It’s a relatively low cost provider, yet delivers a high level of service. Policies start as low as $25 per month and the company has fewer fees than most insurers. Cerity makes it fast and easy to get a quote online.
Cerity isn’t low cost because it cuts corners. It actually uses artificial intelligence to up its efficiency. However, everything at Cerity isn’t technology based. When you require help, you will have access to a team of licensed policy and claims experts. You can rest assured knowing Cerity has been in business for more than a century and is rated highly by their clients.
The Hartford: Best for businesses that want to partner with a sound and ethical insurer
The Hartford is one of the oldest companies of any kind in the United States. It’s been offering insurance solutions for more than 200 years and has helped one million plus businesses with their insurance needs. The company takes pride in the fact that the Ethisphere Institute named The Hartford a World’s Most Ethical Company twelve times. The Hartford’s longevity and focus on ethics makes it a company that you can feel good about entrusting your business to.
The Hartford offers some unique features as part of its workers’ comp insurance coverage including:
- A preferred medical provider network which makes it easy to get access to medical professionals all over Colorado experienced in treating workplace injuries.
- A prescription drug program that includes pharmacies all over Maryland that are able to fill prescriptions, usually with no out-of-pocket costs. The program also includes convenient mail order service.
- The needle stick reimbursement program helps pay for the initial testing of someone who works for you and their patient if the worker gets hurt with a needle. It also pays for ongoing testing, if necessary.
- The nursed back to health program has experienced nurses to help coordinate medical care and provide therapeutic support.
- Pay as you go billing solutions that base your workers’ comp coverage on your actual payroll. This is great for companies that have a regularly changing workforce and want to get better control over their cash flow.
The Hartford is a solid and ethical insurance provider you’ll feel good about working with.
AmTrust Financial: Best for companies that need customized workers’ comp and other coverage
AmTrust is a relatively small insurance provider that specializes in small business and workers’ comp coverage. What AmTrust lacks in size, it certainly makes up for in service.
AmTrust and their agents make it possible for small businesses to customize their coverage based on their individual requirements, something many insurers are unable to do. The firm works closely with their agents to design the specific insurance packages businesses need.
AmTrust has excellent customers service ratings and their coverage is surprisingly affordable especially when you consider the level of customization they offer. AmTrust will ask you to submit a form to get workers’ compensation coverage and they’ll get back to you with help.
biBerk: Best for low-cost workers’ compensation coverage
biBerk is known for being a low-cost business insurance provider. Low-cost insurance doesn’t equate to cheap insurance. Despite saving money on your workers’ comp and other business insurance, you can rest assured knowing you’re still getting quality protection for your business. biBERK is able to lower insurance costs by almost 20 percent because it insures small businesses directly, without the added costs of having to work through a middleman or insurance broker.
biBerk is a part of Berkshire Hathaway, a company headed by well-known investor Warren Buffett. It’s a firm that has millions of satisfied customers that’s been insuring people and businesses for more than 75 years.
Here is a sample workers’ compensation quote for a Maryland business from biBerk.
How does Maryland workers’ comp work?
Workers’ compensation in Maryland is a no-fault system. This means that it doesn’t matter if employees are partly responsible for the incidents that caused their injuries or illnesses. They can still qualify for workers’ comp benefits, regardless of fault.
In exchange for the no-fault benefit, employees do not have the right to file personal injury claims against their employers for negligence. This can be a big relief to employers who are concerned about employee lawsuits.
Who needs workers’ comp coverage in Maryland?
In Maryland, most businesses with one or more employees are required to carry workers’ compensation insurance. There are a few exceptions. Agricultural employers that have fewer than three workers or an annual payroll of less than $15,000 are not required to provide workers’ compensation benefits to their employees. Sole proprietors and partners in business partnerships are also exempt.
Employers in Maryland that fail to secure adequate workers’ compensation insurance are subject to a fine of up to $10,000. The owners or officers of a business are responsible for paying the fine.
What does workers compensation insurance cover in Maryland?
In Maryland, workers’ compensation provides the following benefits:
- Medical care. Workers’ compensation pays medical costs if an employee gets injured or ill for job related reasons
- Ongoing care. If a workplace injury or illness requires an employee to get ongoing care, such as physical therapy, workers’ compensation will pay for the treatment
- Repetitive injury. If a worker is injured because of ongoing repetitive job related strain — carpal tunnel syndrome is an example — workers’ comp will pay for therapy
- Disability benefits. If an injury is so severe an employee never returns to work, or doesn’t for a long time, workers’ comp will pay medical costs and some lost wages over the long term
- Partial wage reimbursement. A work-related injury or illness often forces employees to take time off. Workers’ comp helps replace the lost wages of injured or sick employees while they’re recovering
- Vocational rehabilitation. Workers comp pays to help people who become disabled because of a job related injury train for and find new work
- Death benefits. Immediate family members receive payouts if an employee dies because of job related reasons
- Funeral expenses. If an employee passes away because of a work-related incident, workers’ comp pays funeral costs up to a certain limit.
What doesn’t workers compensation insurance cover?
Workers’ compensation insurance does not cover things like:
- Injuries to independent contractors, clients or customers
- Employees who are intoxicated or high when they’re injured
- Wages for temporary employees while recovering from work-related injuries
- OSHA fines
- Injuries that occur after the employee has left work
- Vandalism or intentional injuries.
How is workers compensation insurance different than general liability insurance?
Workers comp only covers people who work for you. If a client, customer or random person is injured at your workplace or job site, general liability insurance will cover it. General liability covers bodily injury and damage caused by you or an employee to someone else’s property.
How much does workers compensation insurance cost in Maryland?
In Maryland, the average cost of workers compensation insurance is $1.01 per $100 payroll. The cost of workers’ comp coverage in Maryland is based on a number of factors, including your:
- Number of employees and size of payroll
- Industry and type of work
- Workplace risks
- Company claims history
- Business age or years in operation.
Taken together, all these things will determine your final premium cost.
If you are in the market to find an affordable workers comp insurance policy for your company, be sure to shop around with a few companies or with a digital broker like CoverWallet so that you can compare several quotes to find the cheapest one.
How to find cheap workers compensation insurance in Maryland
Businesses in Maryland are able to choose their own workers’ comp insurance provider. You owe it to yourself to compare coverage and costs from several insurers. They have different ways of calculating premium costs and you will likely find a range of prices. You can select one that offers you the coverage your need at the best possible cost.
The most common workers compensation claims in Maryland
The most common injuries named in Maryland workers’ compensation claims in order are:
- Back injuries
- Head and neck injuries
- Broken bones
- Bruises, cuts and scrapes
- Pulled, strained or sprained muscles
- Crushed limbs
- Soft tissue injuries
- Respiratory problems
- Repetitive motion injuries
- Toxic exposure.
The most common causes of job injuries in Maryland include:
- Overexertion: This happens when workers lift, push, pull, hold, carry or throw heavy objects and they put too much stress on their bodies
- Slips and trips: Slippery floors, loose wires, wet surfaces, damaged carpets and unexpected items left on the ground can all cause workers to slip or trip and get injured
- Falls: People who do construction, roofing or utility work — or other jobs that require them to work at great heights — can suffer catastrophic trauma if they fall off a ladder, scaffold or piece of equipment
- Struck by equipment: Getting hit by a piece of equipment or machine is the leading cause of death in the construction industry in the state
- Vehicle accidents: Driving cars, trucks or pieces of equipment is a part of many jobs and is the cause of quite a few work-related injuries
- Repetitive motions: Many jobs involve performing tasks over and over again. For example, typing while seated in an incorrect position has been linked to carpal tunnel syndrome, a condition that many workers in Maryland suffer from.