Workers' Compensation Insurance for Your Business

What Is Workers' Compensation Insurance?

Workers' compensation insurance provides coverage when your employees get injured or become ill due to their job. This essential coverage pays for medical treatment, rehabilitation costs, and a portion of lost wages while your employee recovers. It also protects your business from lawsuits related to workplace injuries.

Why You Need Workers' Compensation Insurance

• Most states legally require businesses with employees to carry workers' compensation coverage
• Protects your business from costly lawsuits when workplace injuries happen
• Covers medical expenses and lost wages for injured employees
• Demonstrates your commitment to employee safety and wellbeing
• Helps you avoid significant out-of-pocket expenses from workplace accidents

How Pre-Hire Physicals Reduce Your Risk

Requiring pre-hire physicals helps ensure you're hiring employees who can safely perform the job. Provide medical providers with detailed job descriptions that include physical requirements. This screening process protects both your new hires and existing employees while potentially reducing your workers' compensation claims.

Encouraging Proper Injury Reporting

Educate your employees about the workers' compensation process so they understand their rights and feel comfortable reporting injuries. When employees fear losing their jobs, they may delay reporting injuries, which can lead to worse outcomes and higher costs. Clear communication about the claims process creates a safer workplace culture.

What Does Workers' Compensation Cover?

Your policy typically covers emergency room visits, ongoing medical care, physical therapy, prescription medications, and temporary or permanent disability benefits. If a workplace fatality occurs, workers' compensation also provides death benefits to the employee's dependents.

How Are Premiums Calculated?

Your premium depends on your industry classification, payroll size, and claims history. Businesses with strong safety programs and fewer claims often qualify for lower rates. Implementing safety training and maintaining accurate job classifications can help you control costs.