WHAT IT IS:
Worker’s Compensation is a no-fault insurance program that covers your business for work-related accidents. It pays for the cost of medical care, rehabilitation, and lost wages for a work-related accident that results in injury, disease, or death. It also protects your business from being sued by employees for work conditions that may cause injury or illness.
WHY YOU NEED IT:
As an employer you have a legal responsibility to make sure the workplace is safe for your employees. Even if every safety measure is take, accidents can still happen. Not only is workers compensation insurance required in almost every state (laws vary by state), without this coverage your business is exposed to a potentially devastating lawsuit if one of your employees gets hurt on the job or has a work-related illness.
Worker’s Compensation insurance will protect your business from such a lawsuit and help pay for medical and hospital bills, compensate for lost income, rehab, and other expenses. It covers workers injured whether they’re hurt on the premise or in an auto accident while operating business activities. If an injured worker is unable to return to work, coverage may also include training for new skills or pay a long-term benefit. If an employee dies as a result of a work-related accident, workers compensation insurance will pay a benefit to their family.
When one of your workers is hurt from an unfortunate work-related accident, only Worker’s Compensation will cover them.