Workers Compensation

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Workers compensation insurance covers medical expenses and lost wages for employees who are injured on the job. In New York, this coverage is required for nearly all employers. We help you find affordable workers comp that meets state requirements.

Coverage Types

Medical Benefits
Disability Benefits
Death Benefits
Rehabilitation

What Workers Compensation Insurance Covers

Workers compensation insurance provides benefits to employees who suffer work-related injuries or illnesses. Coverage includes medical treatment, hospitalization, prescription medications, and physical rehabilitation. It also pays a portion of lost wages to employees who are unable to work while they recover, ensuring they can focus on healing rather than financial stress. In the event of a fatal workplace accident, workers compensation provides death benefits to the employee's dependents, including funeral expenses. The policy also covers employer liability, protecting your business from most employee lawsuits stemming from workplace injuries. This dual protection for both employees and employers makes workers compensation a critical part of your business insurance program.

New York State Workers Compensation Requirements

New York has some of the strictest workers compensation requirements in the country. Nearly every employer in the state must carry coverage, regardless of the number of employees, hours worked, or whether employees are family members. The New York Workers Compensation Board actively enforces compliance, and penalties for operating without coverage include fines of up to $2,000 per 10-day period of non-compliance and potential criminal charges. Businesses in the Auburn and Central New York area must also be aware of New York's unique Disability Benefits Law, which requires employers to provide short-term disability coverage for off-the-job injuries and illnesses. Gillespie Insurance Agency helps local businesses navigate both requirements so you stay compliant and avoid costly penalties.

Reducing Your Workers Compensation Costs

Workers compensation premiums can be a significant expense, but there are proven strategies to manage and reduce your costs. Maintaining a safe workplace and implementing a formal safety program can lower your experience modification rate over time, which directly reduces your premiums. Return-to-work programs that help injured employees resume light-duty tasks also help control claim costs. As an independent agency, Gillespie Insurance Agency works with multiple workers compensation carriers to find competitive pricing for businesses throughout Central New York. We also review your employee classifications to ensure you are not overpaying due to incorrect job codes. If your business qualifies, we can explore group programs and pay-as-you-go options that improve cash flow. Contact us at (315) 252-0694 for a workers compensation review.

Common Workers Compensation Questions

Yes. New York State law requires virtually all employers to carry workers compensation insurance, even if you have only one employee. This includes part-time, seasonal, and family member employees in most cases. Failure to carry the required coverage can result in significant fines and even criminal penalties.

Workers compensation covers medical expenses for workplace injuries and illnesses, a portion of lost wages while the employee recovers, rehabilitation and physical therapy costs, and death benefits for surviving dependents if a workplace accident is fatal. It also protects the employer from most employee lawsuits related to on-the-job injuries.

Premiums are based on your total payroll, the classification codes assigned to your employees based on their job duties, and your experience modification rate, which reflects your claims history. Businesses with fewer claims typically pay lower rates. Gillespie Insurance Agency can help you verify your class codes and explore ways to reduce your premiums.

You should ensure the employee receives immediate medical attention, report the injury to your insurance carrier promptly, and file the required forms with the New York Workers Compensation Board. Timely reporting is critical because delays can result in penalties and complicate the claims process. Our team at Gillespie Insurance Agency can guide you through the reporting steps.

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