Nearly every state requires businesses to have workers’ compensation insurance. This type of staff insurance covers medical costs and lost wages for employees who were injured on the job. If you need to acquire coverage, you can contact an insurance company, and a representative will craft a policy that works for your business.
What Workers’ Compensation Insurance Covers
If one of your employees is injured at work, workers’ compensation insurance will cover:
- Lost wages
- Medical expenses
- Permanent disability
- Death benefits
This type of insurance also protects your business in the event an employee sues it for poor workplace conditions. Coverage is also available for employees who are injured outside of regions where your business normally operates.
Basics of Workers’ Compensation Insurance
In general, workers’ compensation insurance only provides coverage for injuries that resulted from duties performed while at work. For instance, any injuries caused by lifting heavy equipment or slipping on a wet surface would be covered. Most policies will not cover injuries that occur during an employee’s day off from work.
Create a Policy That Works For You
The cost of insurance depends on what you want your policy to have. If you are unsure about the level of coverage you need, you can speak with a representative at an insurance company. He or she will compare premium costs with you and create a staff insurance policy that is appropriate for your business.