Workers’ compensation is a type of insurance that all businesses are required to have in order to keep employees protected in the case of injury while at the workplace. Worker’s compensation can be used to replace wages if an employee cannot work due to an injury. It can also help cover medical expenses in work-related accidents. Worker’s compensation is beneficial to both the employee and business owner because both sides are protected since there is no at fault.
Every state has its own stipulations when it comes to workers’ compensation insurance, but it is required to cover wages, injuries or death in the workplace. The type of insurance you will need as a business owner is determined by the regulations of that state so it’s very important to make you are following the guidelines for the state of your business. States and cities that are more highly populated may have more rigorous standards simply due to the population density.
Workers’ compensation insurance is determined by three factors:
-Size of your company’s payroll
-The history of your company’s claims
-The type of job or service your employees are responsible for while in the workplace
Willoughby Insurance can help you assess the best premium for your company to keep you and your employees protected. It’s important to discuss the budget and goals for your business to ensure you are getting the best insurance for your company.
What Does Workers’ Compensation Cover?
Workers’ compensation insurance can be used in varying instances when an employee falls ill or is injured in the workplace. It can be used to cover medical expenses or hospital stays, but can also be used to cover disability payments while an employee is out of work due to sustaining an injury in the workplace.
Common accidents like slip-and-fall injuries are more common than others cases where workers’ compensation can be beneficial. Workers’ compensation can be used to treat an employee that gets sick due to their environment and needs treatment whether its ongoing or a one time treatment.
Workers’ compensation can also be used in instances where injury can be sustained over time and not just a one time incident. The most important thing to be sure of when it comes to injuries sustained in the workplace, is that everything is documented and recorded thoroughly to insure the benefits are applied correctly and can be preventative of costly lawsuits.
Contact Us Today
Willoughby Insurance can make finding the best workers’ compensation insurance policy quick and easy. We want to make sure your policy with us is not only affordable but that you are confident all your needs are being met. Call and let our team at Willoughby Insurance in Buffalo, NY help you out today!