Worker’s Compensation Insurance

Workers Compensation Insurance is a safety net for people who get hurt or sick because of their work. Its benefits can cover medical bills and replacement wages during the time an employee can’t work.

Modern Worker’s Compensation emerged in the early 20th century.  It was a part of a “grand bargain” between business owners (who were tired of being sued by injured workers) and workers (who were tired of being injured).

At its core, it works like this:

  • Employers pay into a fund
  • If an employee gets hurt, they’re eligible for benefits from that fund

Nobody gets sued, nobody gets blamed and the employee is able to get healthy and return to work — everybody wins!

Of course, that’s just the big picture. The nitty gritty is a little more complex.

What Is Workers Compensation Insurance?workers compensation insurance

Think of Workers Compensation as an airbag for your business. When something goes wrong, it deploys to minimize the damage. Specifically, when an employee gets hurt or sick because of their job. Workers Compensation benefits can pay for medical expenses and replacement wages.

If that sounds like a luxury your business can’t afford, take note: Workers Comp is the only type of business insurance that businesses are legally obligated to carry. While the specifics vary by state, nearly every state requires businesses with employees to have this coverage.

In the long run, that’s probably a good thing for your business. We all think nothing bad will happen, but a single slip-and-fall accident or case of carpal tunnel syndrome can lead to thousands of dollars in medical expenses. It’s much easier to pay for those with an insurance policy than your business bank account.  Let us find the right policy for you.  Stop by the office or call and our brilliant team will find affordable coverage that lets you leave the office confident and secure that your employees are covered.