Orland Park Workers' Compensation Insurance

(Find the right workers' compensation insurance policy for you.)

Written by Meg Stefanac
Written by Meg Stefanac

Financial blogger and business owner, Meg Stefanac, has more than 15 years experience working in the financial services industry and enjoys helping individuals make solid financial decisions. Meg has extensive experience writing about insurance and finances and is a key contributor to TrustedChoice.com.

Reviewer: Jeffrey Green Reviewed by Jeffrey Green
Reviewer: Jeffrey Green
Reviewed by Jeffrey Green

Jeff Green has held a variety of sales and management roles at life insurance companies, Wall street firms, and distribution organizations over his 40-year career.  He was previously Finra 7,24,66 registered and held life insurance licenses in multiple states. He is a graduate of Stony Brook University.

two geophysical surveyors working at mining site

From the retail stores at Orland Square Mall to new developments on the Orland Parkway, there are a large number of employers in Orland Park, IL. Sometimes the people who work at these businesses get injured on the job. When this happens, it is the duty of the employer to cover their medical costs and lost wages. Workers’ compensation insurance covers these expenses.

If you have employees in Orland Park, an independent insurance agent can help you find the best and most affordable workers’ compensation policy to cover your specific business. Contact an insurance agent in Orland Park to learn more and to start comparing customized quotes.

Is Workers’ Compensation Insurance Required in Orland Park?

With a few exceptions, the state of Illinois mandates that if you have at least one employee, you must either have workers’ compensation insurance or demonstrate the means to self-insure.  More than 90% of employers in this state have this coverage. 

It is not necessary for employers to cover family members who are corporate offers or direct family members who live with the employer unless they work in hazardous jobs like trucking or construction. Likewise, if you are a sole proprietor with no employees and you do not work in a hazardous occupation, you do not need to buy coverage for yourself, but you can if you want to.

In Illinois, it is a felony to forgo having mandated coverage for your employees. If you are caught, you can face up to three years in jail and fines as high as $25,000. It is therefore in your best interest to find a competitively priced policy that can provide your business with the coverage you need.

How Much Does Worker’s Compensation Insurance Cost in Orland Park?

Rates for workers’ compensation insurance are calculated according to the kinds of jobs your employees do and your company’s overall payroll. Every job has a specific classification code, and the Illinois Workers’ Compensation Commission assigns base rates for each of these job classifications. The more likely a worker is to suffer a significant injury on the job, the more it will cost to cover them.

Let’s take a look at the average rates paid per every $100,000 in employee payroll for the three top industries in Orland Park, IL:

  • Health care: $1,910 a year
  • Educational services: $700 a year
  • Finance & insurance: $210 a year

Nurses and orderlies in a hospital setting have higher risks of being injured than financial analysts who work in an office setting, so it is no surprise that the average cost to cover workers in the health care industry is higher than the average cost to cover those in the finance and insurance industry.

 Of course, these are averages representing large industry umbrellas. Rates for the types of jobs beneath them can vary significantly. To find out how much workers’ compensation insurance will cost for your particular business, you can consult one of the many independent insurance agents in Orland Park.

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What Does Orland Park Workers’ Compensation Insurance Cover?

Workers’ compensation insurance is designed to cover the costs associated with on-the-job injuries and occupational illnesses. This shields your employees from facing large financial losses as a result of these injuries while also significantly reducing your company’s risk of a liability lawsuit.

You can expect your Orland Park workers’ compensation insurance policy to pay for the following:

  • Medical treatment:  Workers’ compensation will cover all costs associated with necessary medical treatment and follow-up care related to illnesses and injuries sustained on the job. As the employer, you can designate a list of preferred physicians that your employees will need to use for their treatment.
  • Short-term disability benefits: Employees who need to take more than three consecutive days off work to recuperate from a work-related injury can collect a weekly benefit of two-thirds of their average weekly pay until they are able to return to work.
  • Permanent partial disability benefits: If a work-related injury is debilitating enough to permanently alter the type of work the injured employee can do, workers’ compensation can provide them with a weekly benefit of two-thirds of their average weekly pay for a number of weeks that is based on the type of injury and the severity of the impairment.
  • Permanent total disability benefits: If a work-related injury is so severe and the injured employee cannot do any kind of work at all, workers’ comp can pay a weekly benefit of two-thirds of their average weekly wage for the rest of their life.
  • Survivor benefits: If an employee dies because of a work-related injury or occupational illness, workers’ compensation can cover their burial expenses up to $8,000, and will provide financial compensation to the employee’s spouse and dependent children for 25 years or up to $500,000, whichever is greater.

You can get more information about each of these benefits by talking with an independent insurance agent in Orland Park.

What If Your Workers’ Compensation Claim Is Denied?

Workers' compensation claims are not always honored. Insurance companies will deny a claim if they have reason to believe that:

  • The injured worker was not an official employee of your company at the time of the injury.
  • The injured worker was under the influence of drugs or alcohol when the injury occurred.
  • The injured worker was injured while engaged in illegal activity.
  • The injury was intentionally self-inflicted.
  • The injury did not actually occur while the employee was on the job.

If you believe that a workers’ compensation claim was unjustly denied, you have options.  You can file an appeal with the Illinois Workers’ Compensation Commission.  The WCC will assign you an arbitrator who will review the facts and set up an arbitration hearing.

Find the Best Workers’ Compensation Insurance in Orland Park, IL

Local independent insurance agents can help you find an industry-appropriate workers’ compensation policy to cover your Orland Park business. Your agent can provide you with customized quotes from a variety of highly-rated insurance companies. That way, you can be sure you are getting great coverage at a competitive price.

If you are ready to find out how easy it can be to find the right workers’ compensation policy for your business, contact an insurance agent in Orland Park to get started.

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