Workers Compensation Insurance

What is workers compensation insurance?

If an employee suffers from a work-related injury or illness, most states require their employer to pay for medical care, lost wages, and, in the worst-case scenario, death benefits. Depending on which state you have your business in, you may be required by law to carry workers compensation insurance, also known as workman’s comp insurance.

At the very least, if you don’t have this insurance, you run the risk of incurring substantial out-of-pocket expenses if something goes wrong. You may also be subject to fines and penalties.

What does it cover?

For the most part, any work-related injury or illness is covered under workers compensation insurance.  Examples include:

Car accidents

Vehicular travel is often a necessary part of the job, so make sure your employees have a safe vehicle and are properly licensed and practice defensive driving.

Violence, terrorism or natural disasters

Whether it’s a disgruntled employee or an earthquake, these types of workplace injuries are tragic, and some professions are considered more dangerous than others, including law enforcement and nursing. Workplace injuries from terrorism, violence, and natural disasters

Chemical exposure

Employees in the industrial and manufacturing fields are especially susceptible. The famous case in the 1990s about “popcorn lung” which was lung tissue scarring from a chemical in a popcorn-making facility is an often-cited cautionary tale about ensuring workplace safety.

Overexertion

Sprains and strains are one of the most prevalent causes of a complaint. It could be from lifting a heavy object or an injury repetitive motion and stress.

Being struck

Warehouse workers and construction employees are often at risk of having something fall on them. The same is true for factory workers who are dealing with expansive space, heavy machinery, and a lot of moving parts.

Machinery accidents

Being crushed or losing limbs are just a small sample of what can go wrong with heavy machinery. As a result of the debilitating damage from these injuries, as well as the risk of death, many states require operators and companies to undergo safety training.

Slips and falls

You’d be surprised to hear how frequently these claims are filed. Whether it’s a slippery floor, a fall from a ladder or tripping down stairs, these injuries are the second most common type of workplace injury.

What is not covered?

There are some injuries that aren’t covered. These are:

  • – An employee injures himself intentionally
  • – An employee starts a fight and sustains an injury in the altercation
  • – Employees who get injured while intoxicated
  • – Emotional wounds that have no associated physical trauma

Does my company need it?

Most states require that you have this coverage if you have employees, and the specific legal requirements vary. However, regardless of whether it’s required, we strongly recommend it as a safeguard against excessive out-of-pocket expenses and defense against lawsuits if an injured employee doesn’t feel justly compensated.

Claim examples – How coverage works

When an employee is injured or becomes ill from their job, it is their duty to immediately notify their employer. There is a statute of limitations that, if exceeded, voids the employee’s eligibility for benefits. Once the employee reports the injury, the employer must take appropriate action. That generally means sending the employee home from work, instructing them to go to the doctor and paying for any lost wages and incurred medical expenses.

When an employee is injured or becomes ill from their job, it is their duty to immediately notify their employer. There is a statute of limitations that, if exceeded, voids the employee’s eligibility for benefits. Once the employee reports the injury, the employer must take appropriate action. That generally means sending the employee home from work, instructing them to go to the doctor and paying for any lost wages and incurred medical expenses.

Why Click2bind for your workers compensation insurance?

As an independent agency, we have access to multiple carriers. We do all the research and comparison shopping for you, helping you lock in the most competitive prices while getting a plan that best fits your needs. We take a data-driven approach to find the perfect policy so that you have the coverage you need without paying for the things you don’t.

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