Workers' Compensation Insurance Laws in Colorado
In Colorado, every business owner must obtain workers' compensation insurance regardless of the number of employees. Coverage must be obtained at the state limits or more. All employers must report an injury within the first ten days, whatever the severity.
What Does Workers' Compensation Cover in Colorado?
Workers' compensation in Colorado will cover a variety of losses. This policy will help pay for the medical expenses and lost wages of an employee who is injured or becomes ill as a result of their job duties. Some of these include the following:
- Traumatic injuries
- Repetitive injuries
- Some mental or cognitive injuries
- Occupational illnesses/diseases
What Doesn't Workers' Compensation Cover in Colorado?
Your Colorado workers' compensation insurance will come with some exclusions, and they typically will include the following incidents:
- Injuries or illnesses sustained outside of work
- Injuries or illnesses sustained while committing a crime
- Injuries or illnesses sustained under the influence of drugs or alcohol
Common Workers' Compensation Claims in Colorado
Annual percent of employed workers by occupation in Colorado:
- Professional and related occupations
- Management, business, and financial operations
- Service occupations
- Office and administrative support
- Sales
- Construction and extraction
- Transportation and material moving
- Production
- Installation, maintenance, and repair
- Farm, fishing, and forestry
The Top 6 most reported fatal work injuries in Colorado:
- Contact with objects and equipment
- Exposure to harmful substances or environments
- Falls, slips, and trips
- Fires and explosions
- Transportation incidents
- Violence and other injuries by persons or animals
According to statistical data, 78 workers' compensation claims turned fatal in Colorado in one recent year.
What Are the Best Workers' Compensation Companies in Colorado?
| Top Workers' Compensation Insurance Companies | Star Rating |
| Travelers |  |
| Liberty Mutual | |
| Central Insurance Companies | |
| Nationwide | |
| Builders & Tradesmen's Insurance |  |
How Much Does Workers' Compensation Insurance cost in Colorado?
Your workers' compensation rates will vary depending on your industry, experience, and prior claims in Colorado. Each job duty has a rate range from low to high, and your premiums will fall somewhere in that range based on your risk factors. Here are some examples of current rates in Colorado, per $100 of employer payroll:
| Industry | Low Cost | High Cost |
| Trim-Finish Carpenters-Cabinets-Countertops | $3.95 | $8.69 |
| Drywall Contractors | $3.81 | $8.38 |
| Painting Contractor | $4.28 | $9.42 |
| Floor Installers-Wood-Carpet-Laminate | $2.79 | $6.14 |
| Metal Building Construction | $4.57 | $10.05 |
National Average Cost of Workers' Compensation Insurance
Healthcare $1,825 Per $100,000 payroll
Retail Trade $2,850 Per $100,000 payroll
Construction $7,430 Per $100,000 payroll
FAQs: Workers' Compensation Insurance in Colorado
What is workers' compensation insurance?
Colorado workers' compensation insurance supplies coverage for the business and the employee. It helps pay for medical expenses and lost wages when an employee becomes injured or ill as a result of doing their job.
Is workers' compensation required in Colorado?
Yes. Colorado requires all business owners with any number of employees to obtain workers' compensation insurance at least at the state minimum limits or more.
How can you acquire a workers' compensation certificate in Colorado?
Certificates of insurance provide proof of coverage to whoever is requiring one in order to work with your business. Each certificate will show your individual policies with every carrier, the amount of coverage, and when they expire. Your local independent insurance agent can provide one of these at your request.
Is workers' compensation taxable in Colorado?
No. In Colorado, the benefits your employee receives from a workers' compensation claim do not count as taxable income in most cases.
Why shop workers' compensation insurance with a Colorado independent agent?
When you work with a Colorado independent insurance agent, you get options. They have access to dozens of top-rated workers' compensation carriers that write coverage for your specific industry. And they do the shopping for you at no additional cost, making it super-easy.