Workers compensation is a great investment to make if you own a business and employ people to work for you. Having workers comp. protects your company and your employees against any work related accidents that may occur. We have put together a blog to help you learn more about workers comp


What you need to know about Workers compensation:


If you happen to have your own business, and you employ others to work for you, then it is crucial that you look into providing the right workers compensation insurance for your business. With workers compensation, you are covering your company from any accidents that may occur to your employees in the workplace.A good reason to look into this type of insurance is due to the fact that In most states, it is a requirement that you have workers compensation.  Even if you happen to live in a state that does not require you to have this coverage, you should still look into investing in a workers compensation policy to ensure that your business and employees are protected at all times. 


As an employer, you should ensure that the workplace that your employees are in is a safe spot for them. Unfortunately though, sometimes accidents still happen even in the safest of workplaces, they tend to be inevitable at times. With a workers compensation policy in place, you are ensuring that employees who are affected by work related injuries are provided with financial benefits to reimburse them for any medical expenses or lost wages during their time out of work. It is important to keep in mind that workers compensation is a no-fault policy, meaning that benefits will be provided whether you as the employer is at fault or not. 



Protect your business 

With this policy, you are also ensuring that your business is protected. When choosing to ensure your business with workers compensation, make sure that you are also taking advantage of all the benefits that are offered to you, such as having employees agree to forfeit the right to sue your business for any additional financial benefits after the accident has occurred. If your business requires your employees to travel from state to state, ensure that it is specified into your policy, because certain states have different laws regarding workers compensation, that is why all the proper details need to be specified on your policy. 


Not covered under workers comp.

Although workers comp. does cover you in many work related incidents, it is important to note that it will not cover any non-work related injury. Any injury that is caused outside of the workplace, and is not work related will not be covered. Also, one exception to the rule is if an employee gets injured while on the job, but is under the influence or intoxicated, then they would not be covered under workers comp


Who is covered?

The ones that are covered would mainly be the employees that work for you. They will be covered in the event of any work-related injury. This is great for you as you protect yourself and your business against any lawsuits due to your employees getting injured. Deciding to provide this coverage is a great investment that you can make. 



Sole proprietor 

As a sole proprietor, you will not have any employees, and you are the only one that is working under your company. Now, sole proprietors are usually not required to have workers compensation insurance, however, you are still able to insure yourself with a workers comp. policy in order to cover your medical expenses in the event that you were to get injured while on the job. 



Quotehound 

Quotehound is here to assist you in finding the right provider with the best workers comp. policy for you. By putting your trust into our team, you are ensuring that you are connected to the best provider available for you. For more information about workers compensation, visit our website and allow our team to assist you in finding what is right for you. Receive your FREE QUOTE with Quotehound today. For more educational blogs such as this one, make sure to visit Quotehound University as we offer a plethora of options for you on different types of insurance, and non insurance related topics as well. 


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