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North Carolina Workers' Compensation Insurance
Protect your business and employees with North Carolina workers' comp
North Carolina workers' compensation insurance provides financial and medical benefits for injuries or illnesses sustained on the job. Whether your business operates in the city of Raleigh or the scenic Asheville mountains, this coverage is essential for your team's well-being and ensures compliance with state laws.
Connect with a Progressive Commercial agent to learn more about workers' comp in North Carolina.
Who needs workers' compensation insurance in North Carolina?
According to North Carolina workers' comp rules, businesses with three or more employees must have coverage. This insurance assists with medical costs and pays employees for lost wages resulting from workplace accidents. It may also be necessary to meet the requirements of some professional licenses and contract terms.
Review North Carolina workers' compensation requirements for more information.
North Carolina workers' compensation insurance exemptions
Certain jobs qualify for exemptions under North Carolina workers' compensation laws, including:
- Railroad workers
- Casual workers
- Household domestic staff
- Small farms with under 10 employees
- Federal employees
Even if your business is exempt, having coverage can protect your team and reduce legal risks.
What are the penalties for not having workers' comp in North Carolina?
Without workers' compensation insurance, employers may face hefty fines, legal charges, and potential jail time. Securing coverage ensures peace of mind and compliance with regulations.
Learn more about the penalties for not having workers' comp in North Carolina.
How much does workers' comp cost in North Carolina?
North Carolina workers' compensation insurance rates depend on factors like:
- Job classification code: In North Carolina, the North Carolina Rate Bureau (NCRB) assigns class codes to jobs. These codes help set insurance rates based on risk level.
- Payroll: Workers' comp premiums increase with company size, as rates are calculated per $100 of payroll.
- Claims history: Having a high number of claims can affect your coverage costs and might raise rates.
- Insurance carrier: North Carolina workers' compensation insurance companies may offer different rates since each looks at different factors and sets their own prices.
How can you get workers' comp in North Carolina?
If you need workers' compensation insurance in North Carolina, you have a few choices:
- Private insurers: Many businesses select private insurers for workers' comp because they provide personalized coverage and added benefits.
- Self-insurance: Companies can apply for self-insurance through the North Carolina Department of Insurance (NCDOI). This option may lower premiums, but you'll assume all financial liability.
- Self-insurance fund: Some businesses can join self-insurance funds to share resources and manage workers' compensation coverage. These funds require approval from the NCDOI to ensure compliance and financial stability.
- Assigned risk pool: For companies that are new, high risk, or have a claims history, getting private coverage or self-insurance can be difficult. These businesses can access workers' comp through the NCRB.
Talk to a Progressive Commercial specialist or start a quote to review your options and find the right policy.
How does workers' comp work in North Carolina?
Workers' compensation insurance supports employees who get injured or sick because of their job. Once an accident is reported, the employee or employer can file a claim. Upon approval, the employee receives financial support. How long workers' comp lasts in North Carolina depends on the type and severity of the injury.
North Carolina workers' compensation benefits include:
- Medical expenses
- Disability benefits
- Lost wages
- Rehabilitation costs
Providing workers' comp protects your business and helps injured employees recover and return to work. It also lowers the risk of legal claims since employees who receive benefits usually can't sue your business.
North Carolina workers' comp death benefits
North Carolina workers' compensation death benefits assist the families of deceased employees. These benefits help cover expenses and ensure financial stability following a loss. Dependents can receive:
- A lump-sum payment of up to $10,000 for funeral expenses
- Two-thirds of the employee's weekly wage for up to 500 weeks
North Carolina workers' compensation statute of limitations
Under North Carolina workers' compensation statutory limits, employees must file a claim within two years of the injury date. It's important to encourage employees to report incidents promptly to make sure they can qualify for benefits.
Why choose Progressive Commercial for North Carolina workers' comp
For more than 50 years, Progressive Commercial has been a leader in the insurance industry. We offer expert guidance and customized solutions to meet your needs.
We're here to help you find the right policy. Call us to talk to an agent or start an online quote today.
