How Does Workers’ Compensation Coverage Work?
Workers’ compensation insurance is designed to help protect an employer against many of the financial risks associated with having employees on site. At the end of the day, the most expensive liability involved with employing other people is almost always the cost of a lawsuit.
Workers’ comp coverage helps with the expenses of making things right in the unfortunate case that something goes wrong. From medical expenses to wage reimbursement, this coverage is intended to make sure an injured employee is taken care of, in the interest of avoiding a costly lawsuit.
If you’re a believer in Murphy’s law, you know it’s only a matter of time before your business falls victim to a workplace injury. Get your free online workers’ comp insurance quote here today.
What Injuries Won’t Workers’ Compensation Insurance Cover?
For the most part, workers’ comp will help protect you from an accident in which your business operation was at fault. However, if an employee injury is caused by negligence on behalf of an employee, workers’ comp is unlikely to cover it.
Some examples of injuries that would not be covered include injuries sustained:
- From horseplay or other actions that violate company policy
- From a fight in which the injured party was the aggressor
- By a “true” 1099 independent contractor
- Under the influence of drugs or alcohol
- Outside of the workplace or job site
- After an employee has been terminated
- From an intentionally self-inflicted action
It’s important to note that this list is far from exhaustive, and, on the other hand, in certain cases one of the scenarios mentioned above could, in fact, be covered. With that in mind, the best way to make sure you fully understand the workers’ compensation protections available to your business is with the help of an expert.
That’s why Tomins has a team of seasoned business insurance experts ready to answer your questions.
What Other Related Coverages Do I Need?
When you’re deciding on a workers’ compensation insurance provider, it’s important to make sure you have the option to add Employer’s Liability Insurance coverage to your policy.
This coverage is designed to help cover the costs of a lawsuit stemming from a workplace injury and is a critical part of ensuring that your business is protected.
Even in the face of a covered workers’ comp claim, there is still a chance of getting sued for negligence. Also, if an employee sustains an injury that isn’t covered by your state-mandated workers’ comp coverage, that coverage gap could end up leading to a lawsuit as well.
Our team of business insurance pros is here to help take the guesswork out of getting coverage for your business. The last thing you need is one more thing keeping you up at night.
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