One of the main benefits of Workers’ Compensation Insurance is looking after the well-being of employees who get hurt on the job. Workers’ comp, as it’s often referred to for short, can help cover medical costs and even provide employee wages for time missed from work. Providers such as Ansay & Associates are excited to work with you to make sure that your employees are protected and your business is covered in the event of a work related injury.
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Workers’ compensation insurance policies typically offer the same amount of coverage. Working with an Ansay agent can help you find the right amount of coverage for the right price. You will want to consider how much coverage you need for the following benefits when picking the best fit for you:
The primary use of a workmens’ compensation insurance policy is typically paying for medical expenses incurred from an injury while on the clock.
Depending on the nature of the injury, ongoing medical treatment can be covered as well.
An injury at the workplace can often cause a lasting injury, and workers’ compensation insurance can ensure that missed work doesn’t mean a depleted savings.
Workplace injuries resulting in a partial or permanent disability may require durable medical equipment, job retaining, and amenities for daily living.
Unfortunately, the death of an employee due to an on-the-job accident is a reality you should be prepared for. This coverage can help with funeral expenses and survivor benefits.
It’s important to note that workers’ compensation insurance does not protect employees who are under the influence, commuting to or from work, or a variety of other situations that may not fit into the category of a workplace injury.
Most states require that a business with any employees carry workman's compensation insurance coverage. If you are a sole proprietor or run a small business with no employees, you may not be required to have workers’ comp, but if you work as an independent contractor, some companies may require that you carry a workers’ compensation policy to minimize their risk exposure even though you are not legally obligated to carry one. The best way to be sure is to check with an agent at Ansay & Associates will be able to help you determine your need for a workers’ compensation policy, along with other business insurance needs.
Determining the amount of workers’ compensation coverage you need to protect your business starts with the number of employees working for you. Some policies only cover full-time employees, but you may be legally required to cover part-time employees and subcontractors as well. Beyond the number of people you employ, job classifications will play an important role in determining how much coverage you will need, along with other work-site risk factors and state requirements.
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Business AutoFrequently Asked Questions
Workers’ compensation insurance is protection for an employee and employer in the event of a workplace or work-related accident. This coverage can include payment for medical bills, disability benefits, and wage replacement.
With the exceptions of Texas and Wyoming, all 48 remaining states and the District of Columbia require that an employer carry Workers’ Comp.
Prices will vary depending on the number of employees and their job classifications. A general rule you can apply is approximately $1 in premium for every $100 of payroll.
The claim process starts with filing a report identifying the work-related injury or illness, then contacting your insurance provider and the state’s workers’ comp board and OSHA. If there is a disputed claim, an employee will be required to demonstrate that the injury is work-related.
No punitive actions can be taken against an employee with a filed workers’ compensation claim, so coverage cannot be canceled in response to a claim, but there is no general protection for health coverage, and it could be allowed to lapse in some circumstances. Additional filings, such as Family Medical Leave of Absence (FMLA) may be required to provide extra layers of protection.
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Keep you, your business, and your employees from the detrimental cost of work-related injuries and illness with a workers’ comp plan that’s just right for you. Call and speak with an Ansay & Associates agent to get a workers’ compensation quote today.
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