Best Workman’s Comp Companies in Montana

Caring about an employee’s well-being means that you, a business owner, must provide a safe place to work. But what do you do when an unfortunate workplace incident occurs? Enter workers’ compensation insurance. Workers’ compensation insurance takes care of employees when they’re injured on the job.

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The Best Workers Comp Montana:

• Best Overall: The Hartford
• Best for Tailored Coverage: Simply Business
• Best for Professional & Retail Services: Suracy
• Best for Small Businesses: biBERK
• Best for International Business: Chubb
• Best for Speed & Ease: Progressive
• Best Overall in Montana: Berkshire Hathaway

Workers’ compensation insurance covers the cost of medical care and rehabilitation as well as lost wages. It also provides benefits for dependents if an accident results in death. That’s the human benefit. On the business side, workers’ compensation is important because it mitigates liability, which is a financial and operational risk to your business.

Workers’ compensation greatly reduces the risk of lawsuits by employees for medical care, lost wages and even death benefits. 

But it doesn’t cover everything. For example, a worker might suffer an injury at work while under the influence of alcohol or drugs. In that case, workers' compensation insurance won’t cover the claim.

The top industries for workplace fatalities are agriculture, forestry, fishing and hunting, construction, transportation and warehousing, according to the Montana Occupational Health and Safety Surveillance Program. These industries play a significant role in Montana’s economy.

In Montana, workers’ compensation coverage must be provided for full-time, part-time, seasonal or occasional employees. Let’s take a look at some high-level stats regarding fatalities and cost from the National Academy of Social Insurance’s October 2018 report:

• Number of fatal injuries annually: Nationally, there were 5,190 fatal injuries in 2016. In Montana, 38 fatalities were reported in 2016.
• Employers’ cost per $100 of covered payroll: Workers’ compensation cost employers $2.12 per $100 in payroll in 2016. 
• National ranking: Montana ranked 47th in the country for employer costs for workers’ compensation per $100 of covered payroll by state from 2012–2016.  
• Low rate per $100 in payroll: The low rate per $100 in payroll is $0.37 for clerical employees in Montana.
• High rate per $100 in payroll: The high rate per $100 in payroll is $22.84 for laborers in Montana. 

Montana workers' compensation is not intended to make an injured worker whole. Instead, it provides assistance to a worker at a reasonable cost to the employer. Within that limitation, the wage-loss benefit should bear a reasonable relationship to actual wages lost as a result of a work-related injury or disease.

The objective of workers' compensation is for a worker to return to their job as soon as possible after they’ve suffered an injury or disease. Moreover, those who’ve suffered an injury or disease should have access to benefits quickly. Additionally, employers should be able to provide coverage at reasonably constant rates.

When running a business, there’s more to consider than providing a product or service. Businesses must also consider their cost to do business. One of those costs is securing workers’ compensation insurance to protect itself and its employees in the event of a workplace incident.

The cost for workers’ comp in Montana differs according to the type of job. Below are a few examples that are based on a company with 5 employees and assuming a $250 state fee:

*This table assumes the employer has 5 employees with an experience modifier of 1 and a state fee of $250*

1. Wage replacement benefits: This typically amounts to 2/3 of the worker's average wage. This benefit isn’t taxed, which helps match the amount a worker sees in a normal paycheck (which is taxed) and what they’ll see from wage replacement benefits (which is not taxed). There’s a maximum amount of wages an employee can receive through this benefit. Employees start collecting after missing a few days of work because of injury or illness.
2. Permanent-partial disability benefits: This benefit pays an employee who’s sustained a permanent disability, but the disability doesn’t completely take away their ability to work. Carpal tunnel syndrome is one type of permanent partial disability. The amount of the benefit depends on the body part or condition of the disability. 
3. Vocational rehabilitation benefits: These benefits help a worker who cannot return to their previous job, as a result of injury, and find a new job. The services include counseling, vocational evaluations, job placement, job development and vocational monitoring. Vocational rehab is job retraining when a worker cannot return to their previously held job.
4. Medical benefits: Benefits provided to injured workers for all “necessary and reasonable” medical care. Employees choose their own physician unless the employee is subject to a managed care plan. If the employee chooses not to use the managed care provider they may be able to instead pay copays for doctor and hospital visits.

Below are notable exceptions according to the Social Security Administration:

• The federal government covers its employees and administers the Longshore and Harbor Workers' Compensation Act, enacted in 1927. 
• Coal miners suffering from pneumoconiosis are covered by the Black Lung Benefits Act of 1972.
• The Radiation Exposure Compensation Act of 1990 provides lump-sum compensation payments to individuals who contracted certain cancers and other serious diseases as a result of exposure to radiation released during above-ground nuclear weapons tests or during employment in underground uranium mines. 
• The Energy Employees Occupational Illness Compensation Program provides lump-sum payments up to $150,000 to civilian workers (or their survivors) who became ill as a result of exposure to radiation, beryllium or silica in the production or testing of nuclear weapons. 

You want to protect your business. One way to do that is by securing workers’ compensation insurance. Workers’ comp protects your business from liability claims. It also protects your employees from repercussions due to workplace injury or illness. To protect your business and help employees, it’s necessary to secure workers’ comp insurance. 

Here are the best workers’ comp insurance providers in Montana. 

1. Best Overall: The Hartford

With more than 200 years of experience, The Hartford is selected among the nation’s top workers’ comp insurance carriers. The insurer is considered the best choice for worker’s compensation policies because of its preferred medical provider network with more than 1 million providers who treat workplace injuries.

It also offers more than 65,000 pharmacies in the U.S. to fill prescriptions usually with no out-of-pocket expense for injured workers, and a network of nurse care managers to help coordinate the injured workers’ care with doctors and therapists.

The Hartford offers companies pay-as-you-go billing solutions based on actual payroll, which can help manage cash flow and reduce audit surprises.

2. Simply Business

Simply Business offers a comprehensive suite of business insurance that specializes in making it easy to insure your business.

Whether you’re looking for construction workers' insurance or insurance for your startup, Simply Business helps you find the right coverage at the right price.

Tell Simply Business a little bit about your business and you'll get almost-instantaneous affordable quotes from top insurance providers. You can look into workers’ comp insurance that will cover everyone on your team, and you can get covered in accordance with state law without overspending.

Building your business is hard enough. Let Simply Business make it easier. Get a quote from Simply Business today.

3. Suracy: Best for Professional and Retail Services

Previously known as AmVenture, Suracy provides a full suite of coverages to help protect businesses large and small.

Going beyond the standard quote and coverage, Suracy helps you assess and manage risk so you get the coverage you need at every stage of your business’s lifecycle.

Its customer base is varied and includes franchises, multi-location businesses, nonprofits, unions, associations and religious organizations. Suracy offers quick claims processing with a 24/7 online claims service. 

4. biBERK: Best for Small Business

biBERK offers small business owners cost-effective, efficient and effective workers’ comp insurance. biBERK lets you get insurance straight from the source by taking the middleman out of the mix. According to its website, you’re likely to save up to 20% on costs.

As a Berkshire Hathaway company, with the incomparable Warren Buffett at the helm, you benefit from its dependability, stability and experience. 

5. Chubb: Best for International Businesses

Chubb is the world’s largest publicly traded property and casualty insurance company. You benefit from its size.

Chubb’s breadth and depth of experience and services are applied to your business to provide you specialized coverage regardless of industry and size. It is focused on reducing risk in your workplace, efficiently shepherding your claims, and effectively managing the financial impact on your business.

Chubb aligns its overall goal with yours — protecting employees, your greatest asset. 

6. Progressive: Best for Speed and Ease

Progressive offers workers’ compensation insurance through its Progressive Advantage Business Program. This program is a “one-stop-shop” that offers small businesses a complement of insurance solutions underwritten by specifically selected carriers.

You can get insurance beginning with its online quote tool or get in touch with one of its specially trained experts. These experts help ensure you get insurance coverage to match your needs.

7. Berkshire Hathaway: Best Customer Service

Berkshire Hathaway provides small-to-large businesses workers’ compensation insurance through its Berkshire Hathaway Homestate Companies (BHHC).

With Warren Buffet as the leader, they’ve got the reputation. And, they back that rep with strength, stability and top-rated customer service. On the numbers side, Berkshire offers flexible premium payment options as well as a wide range of deductible options.

That way, your employees and your balance sheet benefit.   

Protect Your Business, Help Your People

Businesses don’t run themselves. And you can’t have a successful business without great employees in the right places. One way to ensure you attract and retain great employees is to take care of them. Maybe it means you offer free coffee in the breakroom. Perhaps it means you host a plethora of morale-boosting events. Those things are nice, but they’re for naught if you don’t provide for your employees in case something unfortunate happens. 

Workers’ comp insurance shows employees that when it comes to caring in the workplace, you do more than talk. You take action. 

Frequently Asked Questions