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According to Arizona workers’ compensation rules, any business with employees in the state must carry workers’ compensation coverage. This applies even if the business has only a single employee.
Small business owners who want to comply with the current Arizona workers’ compensation rules but are looking to reduce the cost of your premiums can do the following:
Obtaining coverage to comply with Arizona workers’ compensation rules is relatively simple and the process of using it is, too.
First, you’ll buy a policy that’s based on your estimated annual payroll. Note the word “estimated”, because it’s important later.
Once you’ve purchased a policy and paid the premium, your employees are covered for a full year.
At the end of the year, your insurance company will conduct an audit to see if the estimated payroll was accurate. If it was too high, you’ll get a refund of the difference. If it was too low, you’ll need to pay the extra.
Workers' comp coverage also protects employers from legal action. This means that if an employee sues your business because of a workplace injury, the insurance will cover the legal costs of the case.
Getting workers’ comp insurance in Arizona should not be particularly difficult. You have three options available to you:
Under Arizona workers’ compensation rules, businesses that fail to purchase a workers’ comp policy can face significant penalties.
These include:
Under current Arizona workers’ compensation rules, eligible survivors (spouses, children under 18, children over 18 but enrolled in school full-time, and children unable to support themselves) are eligible for up to 67% of the worker’s average monthly earnings.
The state’s mandated death benefits also include up to $5,000 for funeral/burial costs.
Workers’ comp settlements were not available in Arizona until 2018. Under current Arizona workers’ compensation rules, only full and final settlements are allowed.
In these cases, the employee, employer, and insurer settle on an agreement amount that includes projected future medical costs, as well as a statement that all parties have tried to protect Medicare interests.
In some cases, this may require creating a Medicare savings account.
Employees are required to notify employers immediately of an injury or on their knowledge of a work-related disease/illness. They have one year from the date of injury/diagnosis to file a claim.
Start by filling out a short online form about your business. We’ll use that info to get you an estimated quote. Then, one of our experienced agents will contact you to review the quote and make sure you are getting the absolutely lowest rate possible for your business. Once the quote is finalized, you’re ready to buy the policy - often with coverage starting that day!
Unlike other online insta-quote systems,
here your quote is reviewed by experts
A Step-by-Step Handbook for Small Businesses - you don't want to skip this!
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