Put quite simply, workers’ compensation insurance protects employers by paying for any injury or illness that occurs to an employee as a result of their working conditions. In fact, the injury or illness that occurred does not even have to be the employer’s fault. Employers are responsible for paying even if the employee contributed to the cause of the accident or injury, for example by disregarding safety signs.  

Who Needs Workers’ Compensation Insurance?

Anyone who employs even a single employee should obtain this critical financial peace of mind. Employers who do not have active workers’ compensation coverage can be held financially responsible for medical costs and lost wages if an employee is hurt while working for them. Obtaining the right workers’ compensation coverage can mean the difference between staying in business and closing the doors due to millions of dollars in medical payments.

Workers’ Compensation Coverage Options

Workers compensation insurance options vary widely because each state has different requirements. However, even when coverage is not mandated by law, it is a safety net that employers should not skip. Here are the most common components of a workers’ compensation policy.

• Coverage for employees working in other states and beyond the normal range of operations.
• Coverage for injuries and illnesses beyond those that the state mandates coverage for.
• Coverage payable to dependents of employees who suffer a fatal on-the-job injury. This coverage also often includes coverage for funeral costs.
• Reimbursement for lost wages.
• Customizable liability limits.

Types of Injuries that Workers’ Compensation Covers

The range of injuries that an employee can suffer while on the job is wide ranging and covers many situations that an employer simply never thinks of. For example, it covers obvious injuries and accidents, such as back injuries from lifting improperly or lifting too much weight. However, it also covers sicknesses that develop on the job, such as a mold allergy due to undetected mold. Other instances of injuries that workers’ compensation insurance covers includes carpal tunnel injuries from prolonged or improper typing and equipment malfunctions that cause loss of limb or disability.

Get the protection you need. Call Gray Insurance Group, Inc. at 410-879-6383 for more information on Bel Air, MD business insurance.