Workplace injuries are inevitable over time, and therefore organizations require a set of protections against financial claims due to injury. Workers’ compensation insurance, often referred to as workers’ comp, is an insurance policy that provides coverage for medical expenses and lossed wages in the event an employee becomes injured or ill at work. Physical and mental rehabilitation, as well as death benefits, can also be covered through a workers compensation policy.
What Does Workers Compensation Cover?
If an employee sustains a physical injury while performing labor on the job, workers compensation will cover the expenses. Other work-related conditions such as carpal tunnel or asbestosis can also be covered by workers compensation. Employers will receive financial protection for workers compensation claims if an employee suffers a workplace injury or illness, regardless of whether it was caused by employee negligence or not.
What is Not Covered?
Injuries that occur outside of work, including while commuting to and from work, are not covered by workers compensation. If an employee suffers intentional harm, whether self-inflicted or by another individual, it will not be covered. Injuries that occur while under the influence will also not be covered by workers comp. Seasonal employees, contractors, and volunteers may also not receive workers compensation benefits in some states.
Who Needs Workers Compensation Insurance?
Almost every state requires employers to acquire a workers compensation insurance policy. There are some exemptions for certain employees, however, that you can verify with your state. It is important to bear in mind, though, that workers compensation insurance provides a layer of protection for both yourself and your employees.
Employer’s liability insurance also comes with workers compensation, which can help you pay for court fees and other expenses for injuries not covered by workers comp. It is generally not required for sole proprietors to own a workers compensation policy, but you can still receive medical reimbursements from a policy if you are injured at your place of work.
The Importance of Workers Compensation
In addition to protecting your organization against expenses resulting from workplace injury, workers compensation ensures your injured worker receives the medical and financial care they need. It also protects your other employees whose negligence may have caused the injury from legal complications. Workers compensation insurance extends to disability, missed wage, and death benefits, providing an extra layer of protection in the event a workplace injury is severe or fatal. Therefore, the claimant, as well as the liable party, can likely avoid litigation due to sustained injury on the job.
Speak With Pro Insurance Group Today
With newer accident risks impacting the modern business, it has become increasingly important for organizations to acquire workers compensation coverage. If your company wishes to protect itself along with its employees, Pro Insurance Group can help. For more information or to acquire a policy today, call us at 833.619.0770 or request a quote online today.