Small Business Coverage and Peace of Mind
While it might best be known for its world-famous potatoes, Idaho is nicknamed the Gem State because of the many types of gemstones that have been found there. From the capital city of Boise through the sparkling peaks of the Sawtooth Range and onto the panhandle to the Canadian border, Idaho covers a lot of territory.
With its canyons, rivers, waterfalls, mountains, and huge wilderness areas, Idaho is paradise for outdoor enthusiasts. The state’s ski resorts like Sun Valley, Bogus Basin, Brundage Mountain, and Silver Mountain are world-class attractions.
Idaho is also a hardworking state which produces one-third of the potatoes grown in the U.S. along with a large share of lumber, food products, brewing malt, and silver. But Idaho’s largest industry is the science and technology sector, which accounts for over 25% of the state’s total revenues.
With more than 148,000 small businesses, entrepreneurs form the foundation for Idaho’s economy. Small businesses make up 96.8% of Idaho’s employers and provide work to nearly 58% of its private-sector workforce. The majority of Idaho’s small businesses employ less than 20 people.1 Most businesses operate in the construction industry followed by retail trade and professional, scientific, and technical services.
How Does Workers’ Compensation Work in Idaho?
Workers’ compensation is no-fault insurance. It provides compensation for missed work, permanent injuries, and rehabilitation in the event an employee is injured on the job. Employers are protected from paying costly medical bills and defending against lawsuits no matter who is at fault in an accident. The leading small businesses purchasing workers’ compensation insurance in Idaho include auto repair and service shops, restaurants, hotels, colleges, grocery stores, and real estate agencies.
What are the Idaho Workers’ Compensation Insurance Requirements?
In Idaho, an employer with one or more full-time, part-time, seasonal, or occasional employees is required to carry workers’ compensation insurance. It is also required that coverage be in place before the first employee is hired. There are a handful of employers that that are exempt from this requirement, such as: household domestic service, employment of family members in sole proprietorships, the owner of a sole proprietor, pilots of agricultural spraying or dusting planes, real estate brokers and salespeople paid by commission, volunteer ski patrollers, athletic officials in secondary schools, or casual or irregular employees.2
Operating a business without workers’ compensation insurance is a misdemeanor under Idaho law, and can be costly for business owners.
- In the event of a work-related injury, business owners can be held personally liable for all benefits that would be provided to the worker under the state’s workers’ compensation law – including medical costs and wage loss. Additionally, an uninsured employer may be liable for a penalty of 10% of the amount of medical and wage loss benefits, as well as attorney fees if the injured employee is represented by an attorney.
- Business owners who operate without workers’ compensation insurance can also face fines of $2 per day per employee, or $25 per day, whichever is greater.
Idaho Workmans’ Comp Coverage You Need
Interested in learning more about how EMPLOYERS can help your Idaho business? Request a quote for workers’ compensation insurance from EMPLOYERS!
Thousands of small businesses trust EMPLOYERS for providing cost-effective workers’ compensation insurance for over a century. With our competitive pricing, financial stability and dependability, claims service, safety training and risk advisory programs, EMPLOYERS remains focused on keeping America’s small businesses not only working, but working safely.
1. “Small Business Profile, Idaho,“ SBA Office of Advocacy, February, 2013. www.sba.gov/sites/default/files/id12.pdf
2. “Industrial Commission Employers FAQs,” State of Idaho Industrial Commission, August 26, 2014. https://iic.idaho.gov/employer-compliance-division/employer-information/employers-faqs/
In Idaho, insurance is offered through Employers Compensation Insurance Company, Employers Assurance Company and Employers Preferred Insurance Company. Not all insurers do business in all jurisdictions.