How Many Employees Do You Need to Have Workers’ Comp Insurance in Georgia?

Based on the number of workers you employ, you may or may not have to get Workers’ Compensation in Georgia. Even if you’re not required to have insurance, you should get it.

Companies with fewer than two workers don’t need Workers’ Compensation in Georgia, and companies with three or more employees do need coverage. While Workers’ Compensation premiums can go up as payroll numbers rise, employers can keep costs low by maintaining a safe environment for employees. Because the risk of injury increases as the number of employees does, it is even more important for companies with larger payrolls to get Workers’ Compensation in Georgia. That said, workplace accidents can happen, regardless of a company’s size, making coverage crucial for all businesses in Georgia.

To find a policy that protects your company, call the Georgia Workers’ Compensation insurance brokers at NPN Brokers today at (561) 990-3022.

How Many Employees Can You Have Before Needing Workers’ Comp in Georgia?

Companies with very few employees do not need to purchase Workers’ Compensation in Georgia and can go without coverage without fear of facing financial penalties from the State Board of Workers’ Compensation.

Companies with fewer than three employees do not have to maintain Workers’ Compensation in Georgia. This goes for companies in all industries. Sole proprietors and partners are also automatically excluded from Georgia’s Workers’ Compensation system but can opt in and get coverage if they choose. Independent contractors are typically not counted as employees for Workers’ Compensation purposes.

It’s rare for companies in Georgia to have companies with fewer than three employees. However, such companies do exist and can choose to get Workers’ Compensation insurance to protect themselves, despite not being required to in Georgia.

What Number of Employees Will Require You to Have Workers’ Comp in Georgia?

Most companies in Georgia will need to get Workers’ Compensation as the main factor in determining coverage requirements is payroll, and Georgia’s threshold is relatively low.

Any company with three or more workers in Georgia must get Workers’ Compensation insurance. Because of this rule, most businesses in Georgia must maintain insurance to comply with Georgia’s laws. Those that don’t might face financial penalties and other consequences for non-compliance.

Our Georgia Workers’ Compensation insurance brokers can pair your company with a policy if you are required to get coverage. Policies must typically cover all employees, but some LLC members or corporate officers can exempt themselves if they choose to in Georgia. Doing so will make them ineligible for Workers’ Compensation benefits if they are injured on the job.

Is Workers’ Comp More Expensive When You Have More Employees in Georgia?

As payroll numbers increase, so can Workers’ Compensation insurance costs. That said, payroll isn’t the only factor influencing the price of coverage in Georgia.

When you have more employees, workplace accidents are more likely to occur. This most impacts companies with hundreds of employees, though work-related injuries can happen regardless of a business’s size. Insurance companies typically see larger payrolls as a higher risk.

While payroll can impact premiums, so can other factors that companies have more control over. For example, a business’s history of workplace accidents matters, sometimes more than payroll does. If your company has few or no prior claims, its Workers’ Compensation premiums will likely go down. You can minimize the number of claims and workplace accidents by implementing safety procedures and guidelines to maintain a safe work environment for your employees in Georgia.

The industry a company is in also plays into the cost of Workers’ Compensation insurance. Retail companies with higher payrolls will likely have lower Workers’ Compensation premiums than construction companies. Regardless of the size of your company, you can find affordable insurance when you partner with our brokers.

Is Workers’ Comp More Important When You Have More Employees in Georgia?

Workers’ Compensation becomes even more important when a company has many employees in Georgia. The more workers you employ, the higher the chances are that workplace accidents will occur.

Often, employing more workers means that companies forfeit some level of oversight. Managers might be unable to oversee all workplace activities, increasing the chance of an accident happening and causing injury to an employee. Not getting insurance can make your company liable for such injuries. If you have a higher payroll, there’s also higher risk of workplace accidents occurring, increasing the chance that your company has to pay out of pocket for an employee’s injuries if you don’t have insurance.

As payroll numbers get higher, so does the importance of having Workers’ Compensation in Georgia. Companies that do not get coverage can also face expensive financial penalties from the Georgia State Board of Workers’ Compensation for non-compliance. Employers might even face jail time for failing to get the necessary Workers’ Compensation coverage in Georgia.

Should You Get Workers’ Comp if You Have Few Employees in Georgia?

Even if you work alone or employ just two workers in Georgia, getting Workers’ Compensation is wise. If you don’t, you might be responsible for paying benefits to an injured worker.

In Georgia, companies without Workers’ Compensation are required to pay benefits equitable to Workers’ Compensation benefits when an employee is injured on the job. Although the risk of a workplace accident happening goes down the fewer employees you have, there is always a risk.

Because of this, all companies in Georgia should get Workers’ Compensation, regardless of how many workers they employ. Our brokers can find a policy that covers your employees at an appropriate rate, regardless of how many you have. Workers’ Compensation protects your company in the event of a workplace injury. Such protection is vital for companies in Georgia, large or small.

Get Workers’ Comp Insurance in Georgia Today

To get a quote, call NPN Brokers at (561) 990-3022 and speak with our Georgia Workers’ Compensation insurance brokers today.