Workers Compensation: Why Michigan Businesses Should Shop Policies Before January 1

For many Michigan businesses, January 1 marks the renewal date for workers compensation policies— and that makes now the perfect time to shop around. Whether you’re a small business owner, a farm operator, or even self-employed, reviewing your workers compensation policy now can lead to better coverage and lower costs.

Workers compensation is required by law for most employers in Michigan. It covers medical expenses and lost wages for employees who are injured on the job, and it protects employers from lawsuits related to workplace injuries. Rates will vary depending on your business’s specific exposures.

Shopping early gives you time to compare quotes, review coverage options, and reassess your payroll classifications.  

Misclassifying employees can lead to overpaying premiums or facing audits later. A fresh review ensures your policy reflects your current workforce and operations.

As a Farm Bureau insured, your business could qualify for a Safe Workplace discount, a discount for the size of your account, or credit for little to no claims history. Contact us to get a quote today.