Workers’ Compensation covers your business and employees in the case that an accident should happen on the job. It also covers the costs associated with work-related illnesses. Workman’s Comp claims can be detrimental to a business. Having a policy that fits your business is important for both you and your employees.
Typically, workers’ comp will cover expenses that are a result of an employee getting hurt on the job. This includes medical bills, follow-up care, and lost wages. In extreme cases, it will cover funeral expenses. Although Workman’s Comp laws vary from state to state, there are a few general cases that are not covered. These include intentional injury, injury due to intoxication, and injuries due to a fight instigated by the worker.
All states require businesses to have a workers’ compensation policy (Texas and New Jersey are the only states where coverage is optional). Costs of policies vary greatly. They depend on the type of trade, business size, state laws and risks associated with the line of work.
As a business owner, you should have guidelines in place in case a worker gets hurt on the job. All employees should immediately tell a supervisor about the injury. A report should include all of the information about the injury including when and how the injury was sustained. Having a step-by-step policy for reporting injuries makes the claims transaction run smoothly, ensuring your worker gets the coverage he or she needs.
Workers’ Compensation laws vary from state to state that is why it is important that you have the type of coverage that you are required to have. Finding a policy that fits your line of work is important when it comes to protecting your employees and your business. Contact us today to discuss your business and the policies you need to protect your employees when it comes to work related injuries and illnesses.