Need for Workmen Compensation Insurance

Workmen's compensation insurance stands as a vital shield for contractors, providing a safety net against potential workplace accidents. Understanding its significance is crucial for contractors seeking to ensure the well-being of their workforce while safeguarding their own business interests.

Get quotes & protect your workers in 5 mins

Protect your workers from

bodily injury and death

We don't spam

Check your premium now

By clicking on "Check your premium now" you agree to our Privacy Policy and Terms Of Use

Get Updates on WhatsApp

Get right expert advice
Hassle-free Policy
Speedy claims

Our top insurers

For Instance

For businesses dealing in the construction industry, this insurance type is highly essential. If an unfortunate event occurs at a construction site, wherein one of your workers is injured, as an employer, you might be responsible for paying for his loss. If an organization doesn’t have worker’s compensation insurance, the worker in this case may sue the employer and claim compensation. This may hit the business hard, both financially and reputation-wise.

Need for Workmen Compensation Insurance

Whether you’re a well-established business or a start-up, it’s crucial to understand why is workmen compensation insurance needed. In a nutshell, without it, you might have an out-of-pocket expense as the employee’s work-related injuries and illnesses are not covered under regular group health insurance. Let us look at some of the needs for workmen compensation insurance.

This insurance helps protect your employees in case of workplace-related injury or illness
A typical employee compensation insurance covers temporary disability, permanent partial disability, permanent total disability, and death
It helps protect businesses by reducing the risk of financial loss in case of employee injury
This insurance can help limit your business’s exposure to lawsuits. Since you cover your employees in terms of work-related illnesses or injury, chances are dim that the workers would file a lawsuit for non-receipt of such benefit
In an unfortunate event of an employee’s death due to a work-related accident, this insurance provides death benefits to their beneficiaries
Worker’s compensation insurance is a mandatory requirement for some businesses under the Workmen's Compensation Insurance Act of 1923.

The Right Workmen Compensation Insurance as per Need

Choosing the right insurance plan can be a challenging task. With multiple aspects to consider, it is important to choose workmen compensation insurance as per the need of the business. Here are some points to consider before you make the buying decision.

Go for a policy that provides optimum coverage for workers
Choose the option covers if needed
Adequate sum insured is the key
Read and understand all the terms and conditions
Weight the pros and cons among the various policies
Opt for policies that offer easy claim settlement, digitalization and 24/7 support

Workmen Compensation Insurance Premium Calculator

What type of business do you run?

Conclusion

Worker’s compensation insurance is an employee benefit that cannot be ignored. The well-being of the employees and workers is the responsibility of the employer, and this insurance can safeguard the organization from liability arising from workplace injury and illness. It is thus recommended to buy workmen compensation insurance depending on the need of the business.

Download Policy Wordings of TATA AIG

Workmen Compensation Companies

Bajaj Allianz

Digit Workers Compensation Insurance

View more insurers

Disclaimer: Above mentioned insurers are arranged in alphabetical order. Policybazaar.com does not endorse, rate, or recommend any particular insurer or insurance product offered by an insurer.

Commercial Insurance Products

Group Health Insurance

Marine Insurance

Cargo Insurance

Workmen Compensation Insurance

Professional Indemnity

Fire Insurance

Shop Insurance

Comprehensive Liability Insurance

Construction All Risk

Erection All Risk

Cyber Insurance

Directors & Officers Insurance

Contractor's Plant & Machinery

Office Package Policy

Group Personal Accident Insurance

Group Life Term Insurance

Drone Insurance

We don't spam

Check your premium now

By clicking on " Check Your Premium Now " you agree to our Privacy Policy and Terms Of Use

Workmen Compensation Insurance Articles

Popular Articles
Recent Articles

Safety Measures in the Factories Act 1948

Ensuring workplace safety in industrial environments is fundamental to labour welfare. The safety measures in the...Read more

08 Apr 2025 by Policybazaar 3478 Views

What is Permanent Partial Disability (PPD)?

Permanent Partial Disability (PPD) occurs when a person is injured or has a medical condition that causes a...Read more

01 Oct 2024 by Policybazaar 3217 Views

Lay-off Compensation to Workmen: What Is It?

Have you come across the term 'Lay Off'? Picture this: You wake up early, all set for another day at the office...Read more

20 Jul 2021 by Policybazaar 16343 Views

How is Workers Compensation Injury Settlement Calculated?

Under the Workmen’s Compensation Act, compensation is offered to the workers and their dependents in case of...Read more

01 Apr 2020 by Policybazaar 30506 Views

Workmen Compensation Act, 1923

The Workmen Compensation Act, 1923, also known as the Employees' Compensation Act mandates employers to fairly...Read more

19 Nov 2020 by Policybazaar 53180 Views

Monthly Wages Under Employees' Compensation Act, 1923

It is a known fact that a company's success depends on its employees. Each employee expects a secure job and gets...Read more

23 Aug 2022 by Policybazaar 10045 Views

Provisions Relating to Welfare in Factories Act 1948

Workers' welfare is the cornerstone of a safe and sustainable industrial culture. Infactories, where the workers...Read more

15 Jul 2025 by Policybazaar 833 Views

Differentiation between Workers Compensation & Employee State...

Employers in India must ensure financial protection for their workforce in case of workplace injuries or health...Read more

05 May 2021 by Policybazaar 16973 Views

Provisions Relating to Hazardous Processes in Factories Act 1948

Industrialisation has been a major contributor to economic growth in India, but it also comes with possible risks...Read more

11 Jul 2025 by Policybazaar 820 Views

A Step-by-Step Guide to Filing a Workmen Compensation Claim

Workplace injuries can occur without warning, and as a contractor, it is your responsibility toensure that injured...Read more

12 Apr 2023 by Policybazaar 7116 Views

What are Occupational Diseases?

Occupational diseases are defined as illnesses or conditions caused by long-term exposure to hazards in the...Read more

01 Oct 2024 by Policybazaar 2609 Views

Workers’ Compensation for Occupational Disease

Employee and worker safety is an integral part of the smooth functioning of the business. Worker’s safety is a...Read more

16 Nov 2022 by Policybazaar 9834 Views

How is Premium Estimation under Worker’s Compensation Insurance...

Worker's compensation insurance is very important. It provides coverage to the workers if they get physically hurt...Read more

28 Apr 2023 by Policybazaar 4844 Views

Employers Liability Insurance vs. Workers Compensation

If you are a business owner you have to ensure that your company is adequately protected. This means opting for...Read more

24 Aug 2022 by Policybazaar 6495 Views

ICICI

ICICI Lombard's Workmen Compensation Insurance provides financial security to employers by covering their legal...Read more

06 Feb 2025 by Policybazaar 1361 Views

Provisions Relating to Welfare in Factories Act 1948

Workers' welfare is the cornerstone of a safe and sustainable...Read more

15 Jul 2025 by Policybazaar 833 Views

Provisions Relating to Hazardous Processes in Factories Act 1948

Industrialisation has been a major contributor to economic...Read more

11 Jul 2025 by Policybazaar 820 Views

10 Daily Workplace Safety Tips in Manufacturing

Workplace safety is crucial in the manufacturing sector, as it...Read more

10 Apr 2025 by Policybazaar 985 Views

Safety Measures in the Factories Act 1948

Ensuring workplace safety in industrial environments is...Read more

08 Apr 2025 by Policybazaar 3478 Views

10 Construction Site Safety Rules

Safety practices at construction sites are critical to...Read more

02 Apr 2025 by Policybazaar 967 Views

ICICI

ICICI Lombard's Workmen Compensation Insurance provides...Read more

06 Feb 2025 by Policybazaar 1361 Views

What is Permanent Partial Disability (PPD)?

Permanent Partial Disability (PPD) occurs when a person is...Read more

01 Oct 2024 by Policybazaar 3217 Views

What are Occupational Diseases?

Occupational diseases are defined as illnesses or conditions...Read more

01 Oct 2024 by Policybazaar 2609 Views

How can an Employer Reduce Workers' Compensation Claim?

Workers' compensation claims can be a significant financial...Read more

09 Apr 2024 by Policybazaar 1457 Views

Is Workers' Compensation the Same as Liability Insurance?

Many employers mistakenly believe that Workers' Compensation and...Read more

08 Apr 2024 by Policybazaar 2587 Views

What are the Benefits of Industrial Safety to Employees?

Industrial workplaces come with inherent risks. Addressing these...Read more

08 Apr 2024 by Policybazaar 1641 Views

What Should You Do If a Worker is Injured on the Job?

A workplace injury can be a stressful and disruptive event for...Read more

08 Apr 2024 by Policybazaar 2892 Views

Policybazaar for Business - Workmen Compensation Insurance - Customer Reviews

View all 92 reviews

View all

4.2

out of 5

Based on 92 reviews

8 users

68 users

16 users

0 users

4.3 June 28, 2023

Abha

Positive Experience

Thank you, PolicyBazaar, for providing such a positive experience and ensuring that well-being of my employees and business!

Lucknow

4 June 18, 2023

Shreaya

Provides Financial Security

I purchased Workmen Compensation Insurance from PolicyBazaar for my business owner looking to secure their employees' welfare and protect their business interests.Thankyou. Worth buying.

Hyderabad

3.8 June 08, 2023

Raman

Nice Purchase

I purchased Workmen compensation plan which turn out to be the good decision. Thanks PB.

Pune

4.3 May 26, 2023

Mayur

Multiple Benefits

I recommend purchasing Workmen Compensation Insurance from Policybazaar. Their user-friendly platform, diverse policy options, exceptional customer support and efficient claims processing make them stand out from the competition.Thanks. It was a good decision.

Delhi

4 May 21, 2023

Shivam

Great Plan

I recently bought Workmen Compensation Plan at policybazaar website which provides comprehensive coverage giving me peace of mind knowing that my employees are well protected in case of any unfortunate event.Thanks.

Pune

3.8 May 16, 2023

Vishal

Helpful Representatives

The team at PolicyBazaar were responsive, courteous, and extremely knowledgeable. I had a few questions regarding the coverage terms and the representatives were patient in addressing all my queries. Thanks.

Coimbatore

4 May 11, 2023

Aditya

Good Platformm

When it came to selcting the right Workmen Compensation Insurance, Policybazaar offered an impressive range of options from reputable insurers. I appreciated the comprehensive details avalable for each policy which helped me to take the better decisions. Thankyou.

Chennai

3.8 May 06, 2023

Dhiraj

Well Informed

I recently purchased Workmen Insurance plan from PolicyBazaar. The process was straightforward and I felt well-informed throughout, thanks to the clear and concise information provided.

Delhi

4.3 May 01, 2023

Abhiraj

Good Decision

I am absolutely delighted with the Workmen Compensation Insurance policy I purchased through Policybazaar. From start to finish, the entire experience has been nothing short of exceptional. I can confidently say that this is one of the best decisions I have made for my business.

Mumbai

3.8 April 30, 2023

Anam

Instant Protection Against Accidental Misshappening

I bought Workmen Compensation Plan from the Policy bazaar website online for our workers in my industry to get protetion aganst any Accidental miss happening caused to them. It offers amazing deals which provide them with medical coverage and help me to get instant protection against any loss. Thanks, PolicyBazaar.

Madurai

92 Review Item

Write a Review

Disclaimers⁺
*All savings and online discounts are provided by insurers as per IRDAI approved insurance plans. Premium varies on the basis of Occupancy, Business Activity & Coverage Type
By clicking on "View Plans" you agree to our Privacy Policy and Terms Of Use and also provide us a formal mandate to represent you to the insurer and communicate to you the grant of a cover.
The details of insurance coverage, inclusions and exclusions are subject to change as per solutions offered by insurance providers. The content has been curated based on the general practices in the industry. Policybazaar is not responsible for the factual correctness of these details.