Whether we want to accept it or not, accidents to happen. Most states now require employers to cover medical costs and lost wages for employees who suffer accidents on the job. Fortunately, BenefitCorp offers workers compensation insurance to protect organizations against claims resulting from workplace injury.
Workers compensation covers businesses in the event that an employee requires some form of financial compensation for losses sustained during or after an injury or illness on the job. The policy will pay for any medical or legal expenses that may arise during a workers comp-related case.
What Does Workers Compensation Insurance Cover?
Workers compensation insurance covers organizations in the event of a work-related illness, accident, or death. Any bodily injury suffered by an employee who is on the premises but not on-the-clock can also be covered by a workers comp policy. If an employee requires treatment for an incident that happened at work, workers comp will help pay for any medical expenses up to a certain amount.
Claim Damages & Court Costs
Workers compensation insurance can also protect businesses in the event an employee decides to sue your company. It will cover any court fees, as well as any damages ordered by court ruling such as loss of work or diminished quality of life. This can provide your organization with peace of mind knowing it is prepared to handle any workers comp-related claim, and will not suffer any significant financial loss in the process.
What Does The Coverage Exclude?
Remember that workers compensation is separate from general liability insurance, in the sense that general liability covers workplace injury due to a third party. Any and all injuries that solely occur on the job are protected under workers compensation insurance. This means that workers comp does not cover damages resulting from bodily harm or death due to criminal or dishonest acts. It also does not cover damages caused to personal property, while general liability does.
In addition, court and lawyer fees are only covered up to the liability limits that were predefined in the workers comp policy. This means that workers compensation insurance is restricted to workplace injury claims that occur during normal or overtime work hours, and only cover up to a set financial amount, meaning you would have to pay any amount that exceeds the workers comp limit.
Speak With BenefitCorp To Learn More
As obvious as it sounds, you cannot avoid the inevitable. However, what you can do is take preventative measures to ensure that your business – and quite frankly, its employees – are protected in the event that a workplace accident happens. BenefitCorp is committed to working with organizations to ensure they find the right workers compensation policy that is tailored to their needs and budget.
Furthermore, our experienced consultants will help you save time and money by getting you the coverage you need, without having you pay extra for what you do not. For more information about workers compensation insurance, or to acquire a policy, contact us online or call our office at 972.737.7875 today.