How to obtain the best Workers Compensation Insurance in New York?
Workers compensation insurance protects New York businesses by covering medical expenses and lost wages if an employee is injured or becomes ill due to their job. It also provides employer liability coverage if the business is sued over a workplace injury.
This coverage is not optional in New York—it’s required by law for most businesses with employees, whether they’re full-time, part-time, or family members.
Who needs workers comp in New York?
Nearly all employers in New York must carry workers’ compensation insurance, including:
- Businesses with one or more employees (part-time or full-time)
- Nonprofits with paid staff
- Contractors and subcontractors
- Employers in high-risk industries like construction or manufacturing
Sole proprietors and partners without employees are generally exempt, but they can choose to purchase coverage to protect themselves.
What does New York workers comp cover?
Workers compensation in New York helps pay for:
- Medical treatment for job-related injuries or illnesses
- Partial wage replacement for employees who are unable to work
- Disability benefits for temporary or permanent injuries
- Death benefits to surviving family members in fatal cases
- Legal fees if your business is sued over a workplace injury
How does workers comp work in New York?
If an employee is injured or becomes ill from work-related causes, workers’ compensation ensures they receive proper medical care and wage replacement. The employer’s insurance provider manages the claim, paying out benefits based on New York’s workers compensation laws.
New York State requires businesses to post notice of coverage (Form C-105) in the workplace and report injuries promptly.
What’s the cost of workers compensation in New York?
The cost of workers comp in New York depends on several factors:
- Industry and job risk level
- Number of employees and payroll
- Company claims history
- Safety protocols and training
Businesses in higher-risk industries, such as construction or transportation, generally pay higher premiums. On average, New York businesses pay between $2 and $4 per $100 in payroll, but rates can vary widely.
Penalties for non-compliance
Failing to provide workers compensation coverage in New York can lead to severe penalties:
- Fines of up to $2,000 per 10-day period without coverage
- Lawsuits from injured workers
- Possible criminal charges in extreme cases
How to get workers comp insurance in New York
There are three main ways to obtain coverage:
- Private insurance carriers – Most businesses buy a policy from a licensed insurer.
- New York State Insurance Fund (NYSIF) – A state-run insurance provider that offers competitive rates.
- Self-insurance – Large businesses may apply to self-insure, but must meet strict financial requirements.
Get coverage that fits your business
Whether you’re a contractor, restaurant owner, or retail operator, having the right workers’ compensation policy helps protect your team and your business. Compare quotes from top carriers and get insured fast.
Start your free quote today.
