Why have Workers Compensation?
On-the-job, injuries or resultant illnesses can be costly. Not having proper coverage against these expenses means you could be taking a big financial risk.
Workers Compensation insurance policies actually provide two types of protection. One covers the cost of medical expenses and disability payments if employees are injured or exposed to illness-causing substances while on the job. The other provides businesses with liability protection in case they are sued for damages arising from employment-related accidents or diseases.
What will it pay for?
Typically, Workers Compensation will pay for medical benefits for job-related injury or disease, disability income benefits, including compensation for lost wages and rehabilitation benefits to help an injured worker return to productive work.
Be advised, in many states workers compensation is not optional. As a business owner, you are required to carry this coverage.
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Frequently people go for years without reviewing their insurance program, even though life quickly changes. By answering a few questions, you can have the peace of mind knowing that your family and possessions are protected.