Employee Injury
Coverage —
Crucial Protection
for Your Workforce
Safeguard your team with comprehensive employee injury coverage, a vital policy designed to protect your workforce from workplace-related incidents. Whether you run a small shop or a larger enterprise, this insurance ensures that your employees receive the necessary benefits in case of injuries sustained while on the job.
Our customized solutions provide peace of mind, enabling you to focus on your business operations without worrying about potential financial burdens stemming from workplace accidents.
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Introduction
Operating a business entails numerous risks, particularly when it comes to the safety and well-being of your employees. Employee injury coverage is essential for mitigating these risks, ensuring that your staff is protected and your business can thrive, regardless of unforeseen circumstances that may arise in the workplace.
Did you know?
In most States it is an employer’s legal duty to provide worker’s compensation insurance to cover all their employees.
What Is Workers Compensation Insurance?
Workers compensation insurance is a specialized policy designed to cover medical expenses and lost wages for employees who are injured while performing their job duties. This essential coverage protects both the employer and the employee by providing necessary financial support in the event of an injury, allowing businesses to maintain their operations without the threat of crippling lawsuits.
As a business owner, you are responsible for ensuring a safe work environment. However, accidents can happen even in the most secure settings. That’s where workers compensation insurance comes in, offering critical protection for your employees and your business.
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How Much Does Workers Compensation Cost?
The type of contractor you are will heavily influence the amount you pay for worker’s compensation. You should also realize that even within your business there will different risks for the jobs performed by different individuals.
For example a roofing company may also employee salespeople and office staff that never go on roofs. It is important that these different positions clearly pose different levels of risk for injury.
You need to make sure that your payroll is not all assigned to a roofer class code as you will paying extra for nothing. This is because higher-risk positions also have a higher potential for injury.
These other things also determine the cost of your worker’s compensation policy:
- The age of your company
- Your company’s safety track record
- The State where the company is located.
Here are some examples of cost versus risk:
- Office employee: low risk. Average around .30 per $100 worth of payroll for this employee.
- Contractor: Artisan Contractors, plumber, and Painters . Average around $12 per $100 worth of payroll for this employee.
- Contractor High Risk: Such as a Roofers. Average around $30 per $100 of payroll for this employee.
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What Does Workers Compensation Insurance Cover?
Workers compensation insurance provides a safety net for employees injured on the job. Here’s a breakdown of what this coverage typically includes:
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Medical Expenses:
Covers the cost of medical treatment for injuries sustained while working.
Example: An employee slips and falls, requiring hospitalization and rehabilitation.
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Wage Replacement:
Provides compensation for lost wages during the recovery period.
Example: An employee cannot work for six weeks after surgery due to a work-related injury.
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Disability Benefits:
Offers additional compensation for permanent disabilities resulting from workplace injuries.
Example: An employee loses functionality in a limb after an accident, resulting in ongoing financial support.
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Vocational Rehabilitation:
Assists injured employees in returning to work through retraining programs.
Example: An injured worker receives training for a new role that accommodates their limitations.
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Death Benefits:
Provides financial support to the family of an employee who dies due to a work-related incident.
Example: A family receives compensation after the untimely loss of a worker in an accident.
Workers compensation insurance plays a critical role in ensuring your employees receive the necessary support during challenging times, fostering a safer work environment.
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Why Do You Need Workers Compensation Insurance?
Workers compensation insurance is essential for protecting both your employees and your business from financial loss due to workplace injuries. It covers medical expenses and lost wages, helping your employees recover without added stress.
Additionally, having this insurance is often a legal requirement in most states, allowing you to operate your business confidently and maintain a good reputation. By investing in workers compensation insurance, you demonstrate your commitment to employee welfare, ensuring that your workforce is supported, and enabling your business to flourish.
What’s Not Covered By Workers Compensation Insurance?
While workers compensation insurance is critical for workplace safety, it’s important to understand its limitations. Here are some instances where this policy won’t provide coverage:
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Intentional Injuries:
Injuries resulting from deliberate actions taken by the employee are not covered.
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Self-Inflicted Injuries:
Injuries that an employee causes to themselves intentionally are excluded.
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Non-Work Related Injuries:
Injuries sustained while the employee is not engaged in work activities are not covered.
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Injuries Occurring During Illegal Activities:
If an employee is injured while committing an illegal act, those injuries are excluded.
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Professional Liability Claims:
Claims arising from professional errors or negligence require separate professional liability insurance.
Here’s What Contractors Think
FAQ: What Isn’t Covered by Workers Compensation Insurance?
No, injuries occurring outside of work hours or during personal activities are not covered.
No, injuries inflicted deliberately by an employee are excluded from coverage.
No, injuries sustained while committing illegal acts are not covered by workers compensation insurance.
Typically, no. Injuries that an employee inflicts upon themselves intentionally are excluded.
No, claims related to professional errors or omissions require separate professional liability insurance.
Yes, as long as they occur in the course of employment, but the coverage only applies within the policy limits for that injury.
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