Workers’ Compensation is essential insurance coverage for many employers in Utah. An average of about 50 fatal workplace injuries occurred in Utah between 2018 and 2020, making it clear that Workers’ Comp can be vital for Utah employees and the companies that hire them.
With Workers’ Compensation, Utah employees who are injured or become sick due to work conditions can obtain compensation for their medical bills and lost wages. This insurance coverage can also help to protect employers from the financial impacts of these expenses. Thus, it serves as a safety net for businesses.
Most businesses are unique, which can require a tailored policy to meet their needs. Allow PolicySweet® to help customize an insurance plan for your Utah business. With our understanding of the local laws surrounding Workers’ Compensation, you can count on us to help you remain compliant. Contact us today to learn more.
Who Needs Workers’ Compensation in Utah?
Most employers in Utah are required to provide Workers’ Compensation insurance. This coverage can include employees from head positions to seasonal hires. Employers should also post Workers’ Compensation insurance information in a prominent location for employees to see and know that they are working at a compliant company.
Utah has some exceptions to its Workers’ Comp rules. In particular, this could allow certain individuals to waive their rights to Workers’ Compensation insurance by securing a Workers’ Compensation Coverage Waiver. Eligible individuals include:
- Sole Proprietorships: An unincorporated business with no employees other than the owner can waive their claim of Workers’ Compensation.
- Partnerships: Professional partnerships without any employees except the partners may also waive their Workers’ Comp benefits.
- Limited Liability Companies: LLCs are like partnerships. Thus, their members may potentially be eligible for an exemption.
- Corporate Directors and/or Officers: Some corporations with no employees and who do not contract their work can file for exclusion of Workers’ Comp benefits. However, the notice can only include up to five directors or officers.
- Independent Contractors: These individuals can classify as any of the four previously mentioned categories. However, Utah specifically mentions that independent contractors are persons that work while being independent of the employer that benefits from their work, are not subject to the employer’s rules, work only a specific job, and are only subordinate to the employer for the duration of that job.
You can apply for an exemption online through the Utah Labor Commission’s web application. Be sure to prepare the documents it outlines on the page.
How Much Does Workers’ Compensation Cost?
Utah Workers’ Compensation policies can vary between companies. Moreover, insurance providers can factor in several aspects to help ensure a policy meets the specific needs of a company. Some factors include:
- Industry: How much risk does an employee face when working?
- Number of Employees: How many people work under the company seeking Workers’ Comp?
- Claims History: Has the company previously filed claims for Workers’ Comp?
At PolicySweet, we can discuss how much your policy is likely to cost. Get a free no-obligation quote now!
Please Note: State-specific information is subject to change at any time. Always consult with your state’s official information and resources for the most accurate information.