Worker’s Compensation Income: What Does It Cover?

A worker’s compensation insurance covers all the expenses that come with the employee's work-related injury or illness. The coverage includes the cost of the ambulance ride, long-term medical costs, and in some cases, it covers legal fees in case the employee wants to sue your company.
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State laws usually require the employers to carry a worker’s comp insurance, just in case one of their employees got hurt while on the job. Let’s take a look at several things of what this insurance covers below.

1. Medical Costs for Treating Illnesses and Injuries
   Sometimes, accidents happen whether we like or not, therefore every business should take every measure to prevent illnesses and injuries in the worksite. When a worker gets injured and needs immediate medical attention, the employer would be responsible for covering the costs.
   
   The insurance policy can cover the costs for the ambulance ride, emergency room visits, and other medical bills.
   
   
2. Lost Wages
   If one of your employees had an accident and cannot work for a while, most laws will require you to pay at least half of their lost wages while they’re recovering. A missed work can be a huge expense for most employers, so if you need help with covering this up, you might want to get a worker’s comp.
   
   
3. Covers Ongoing Medication
   Sometimes, an illness or work injury can be so severe that the worker might undergo ongoing care, such as rehabilitation, treatment from specialists, surgery, or others. And even if that work never gets to return to work, you would still be responsible for the hospital costs. Luckily, having a worker’s comp insurance can help cover all those medical bills.
   
   
4. Death Benefits and Funeral Costs
   If a work accident caused the death of a worker, the policy can help cover the needed funds for funeral expenses. Therefore, this would let you, the family, and staff to focus on grieving for their fellow worker and loved one’s death.
   
   
5. Covers Legal Costs
   If one of your workers got hurt at work and thinks that your company is the one to blame, then you might face a lawsuit at court. But unfortunately, lawsuits can be very expensive. However, if your insurance policy as an employee liability coverage, then they would help you pay for the court cost, attorney fees, and settlements or judgments.

Conclusion:
Not all worker’s comp policies are similar to one another, and not all states require the same type of coverage. Therefore, before you apply for this type of insurance, make sure to check your state laws to know what coverages your business needs. This can also help save you money when you got the right coverage.

At Cornerstone Insurance Agency, we do our best in making sure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (888) 661-8831 or Click Here to request a free quote.