Workers compensation insurance protects the key players on your team – your employees. You count on them for the service, knowledge and expertise needed to move your business to the next milestone. They count on you to take care of them if the unexpected happens.
Workers compensation insurance, also known as workman's comp insurance or simply workman's comp, can help if:
- An employee is injured in an auto accident while running errands for the company
- An associate develops carpal tunnel syndrome from working on the computer
- An employee gets hurt while restocking the supply room
You can enhance a basic policy with additional commercial liability insurance options that meet the specific needs of your business.
Who is covered by workers’ compensation?
Almost every state requires companies to carry workers’ compensation insurance to cover employees, but the laws vary by location and occupation. Some states will not cover seasonal employees, independent contractors, or agricultural employees , so it’s best to contact your state’s government agency to see if you are protected.
What doesn’t workers’ compensation cover?
Workers’ compensation insurance usually will not cover accidents that are a result of an employee being under the influence of drugs or alcohol. Coverage may also be denied for injuries caused intentionally or where an employee was not following proper protocol. Accidents that occur while at home or commuting will not be covered.
How much does workers’ compensation insurance cost?
Rates for coverage will depend on your state and payroll. Two other important factors that determine cost are the type of work your employees do, as well as any previous claims and workplace accident history. Talk to your agent to learn more about specific coverage for your company.
Get the right workers’ compensation coverage for your business
As examples, workers’ compensation insurance can:
- Pay for an injured employee's medical treatment
- Replace part of lost wages if a job-related injury requires time off work
- Protect your business and assets
Some carriers recommend ways to improve job safety, control losses and lower your claim costs. Most importantly, it can protect the people who work for you.
Insurance terms, definitions and explanations are intended for informational purposes only and do not in any way replace or modify the definitions and information contained in individual insurance contracts, policies or declaration pages, which are controlling. Such terms and availability may vary by state and exclusions may apply. Discounts may not be applied to all policy coverages.