As an Employer, You Need to Have Workers Comp Coverage
In the majority of states, workers comp is mandatory. It is coverage which will provide for medical care for the worker if they get hurt while doing work for you. This also defends the employer from having a lawsuit brought on by the injured worker.
Workman’s comp coverage may extend to other incidents besides accidents in the workplace. The protection of worker comp insurance can safeguard the employee elsewhere besides the job site, even if they have an automobile accident during business hours. It doesn’t have to occur directly on business property. Illnesses may be provided for as well.
The workman’s compensation insurance pays the worker for their time away from work after injury, regardless of who is at fault for the accident. As well as the above mentioned benefits, the coverage also provides a death benefit to the injured employee’s family. Every state has specific and unique laws regarding workman’s comp.
When a company is seeking worker’s compensation insurance, they must purchase the coverage separately from other kinds of coverage. BOPs, or business owner’s policies, are usually offered as insurance packages, but they do not include the required coverage for injured workers. This is sold separately.
The entire concept of workman’s compensation insurance dates back to the beginning of the 20th century. Citizens decided there existed a necessity for employees to be protected from on the job accidents and needed to be compensated for any and all injuries which resulted from their workplace. This was a result of the community’s outrage in regards to poor working environments in addition to the dangers which accompanied certain jobs.
Workers comp has been around longer than both unemployment and social security insurances. Most states adopted this kind of compensation around the start of the 20th century, when the state of California implemented it. It’s a kind of no fault coverage where nobody must provide proof of the responsibility of the parties involved.
Some of the services which may be obtained, depending upon your situation, include disability coverages, vocational rehabilitation, supplemental job displacement coverage, fixed disability coverage, temporary disability coverage, and payments in case of death.
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workers comp insurance coverage
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