Why choose SFM?
Top Minnesota insurer
We insure more Minnesota businesses for work comp than anyone else. 96+% of our customers stay with us every year!
Work comp experts
Workers’ compensation is complex, and it’s all we do. Our specialists know work comp inside and out and provide unmatched quality.
Strong service & financials
With an A+ Better Business Bureau rating and AM Best rating of A- (Excellent) we offer top service and a solid financial foundation.
Fast & easy quotes
Simply answer a few questions about your business and we’ll get in touch quickly to discuss your coverage options.
Our safety experts help keep your employees safe. Claim adjusters, doctors and nurses make sure they are in good hands if they get hurt.
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Work comp 101
As a business owner, you probably have a lot of questions about workers’ compensation. “Do I need a policy? What does it cover? How can I buy it?” Learn about workers’ comp in Minnesota from the Work Comp Experts.
What is workers' compensation insurance?
Workers’ compensation insurance protects businesses and their employees from the cost of workplace injuries. You may also hear it called “work comp” or “workman’s comp.”
Workers’ comp covers medical bills and lost wages when someone is injured at work. Benefits can also include payments to compensate for permanent disabilities and to dependents of workers who are killed in job-related incidents.
A workers’ comp policy also covers the employer in case an injured employee brings a lawsuit for alleged negligence. In this way, insurance provides protection for both the employee and employer.
What does workers' compensation insurance cover?
Unlike other lines of insurance, workers’ compensation doesn’t offer different or optional levels of coverage for you to choose. When your policy is in place, it covers every work-related injury considered compensable by Minnesota state law.
Workers’ comp benefits are determined by state law and don’t vary from policy to policy within the state. They are designed to:
- Replace wages lost when an employee is unable to work due to a work injury
- Cover medical bills related to on-the-job injuries
Benefits can also include payments to compensate for permanent disabilities and to dependents of workers who are killed in job-related incidents.
How do I know if I need a workers' comp policy in Minnesota?
Minnesota law requires you to purchase workers’ compensation coverage if you have full-time, part-time or temporary employees working in Minnesota.
There are some exceptions as determined by Minnesota state law (if certain requirements are met):
- Sole proprietors
- Members of a limited liability company (LLC)
- Family members such as spouses, parents or children
- Independent contractors and subcontractors
While not required, in most situations these individuals do have the option to include themselves in a policy.
Businesses that don’t currently have employees can also purchase a small policy to cover future employees.
See Minnesota state law for specifics.
How much does it cost?
Your workers’ compensation premium is based on the type of work your business does, how dangerous your industry is, and the amount you pay your employees. Other factors affecting price include your business’ commitment to safety and history of work injuries. Basically, the safer you keep your workers, the less it costs you to insure them.
Workers’ comp policies are issued annually, with a required review or “audit” at the end of each year.
Sometimes accidental injuries are out of your control, but you’d be surprised how much control you do have. For example, slips and falls are very common causes of serious work injuries. Simply ensuring that your parking lot is shoveled and salted in the winter, and keeping your indoor work environment tidy could prevent one of these accidents.
Our top three tips for holding down your claim costs:
- Make workplace safety a high priority. Find many general and industry-specific resources to make your workplace safer in our resource catalog.
- Report claims right away. Our claims representatives are experts in making sure injured workers get the care they need to ensure a smooth and speedy recovery.
- Provide light-duty work to injured employees who have medical restrictions rather than having them stay off work until they can return to their regular jobs.
Learn more about keeping workers’ compensation costs low.
How do I buy workers’ comp insurance in Minnesota?
You have a couple of options for purchasing a workers’ compensation policy in Minnesota. Since Minnesota has a voluntary market, you can purchase workers’ comp insurance from any independent insurance agent or insurance carrier that is licensed to provide coverage in Minnesota (like SFM).
To get your workers’ comp coverage directly through SFM, request a quote on our website or call us at (844) 828-3801.
If you choose to work with an independent insurance agent but don’t already have a relationship with one, use our tool to find an agent in your area.
Where can I get more information on workers’ compensation in Minnesota?
Since workers’ comp coverage is mandated by the state, the Minnesota Department of Labor and Industry’s workers’ compensation page is your go-to source of information. You can also call them at (800) 342-5354.
Visit the Minnesota Occupational Safety and Health Administration (MN OSHA) page for safety requirements and information.
The Minnesota Safety Council also provides helpful safety information.
Minnesota’s workers’ compensation statutes are also available online through the Minnesota Legislature.
If you’re having trouble purchasing a workers’ compensation policy through the voluntary market, you can contact the Minnesota Workers’ Compensation Assigned Risk Plan (MWCARP) to obtain coverage.
Ready to get started?
We’d love to add you to the growing list of Minnesota employers who trust us for their workers’ compensation coverage.