Worker’s Compensation: Why Your Employees Need It

​Almost all, if not all, of operating businesses, has employees whose wellbeing they also have to take care of. Whether you are a small to medium enterprise or a large company, you have to provide benefits to employees who suffer accidents or illnesses on the job.

What Is Worker’s Compensation Insurance?
Worker’s compensation provides wages and medical aid when employees had to stop working because of work-related injuries or events. These benefits could be for lost wages, occupational rehabilitation, or medical expenses. It could also mean paying death benefits to families or relatives of operatives’ who are killed while doing their work.

This compensation coverage is considered social insurance as it is a contract between employer-employee. This social contract means that by agreeing to have a worker’s compensation assistance, businesses are protected from civil suits that could be filed and that the right to sue for negligence is given up. However, this does not cover unemployment, as worker’s compensation is tax-free.

How Does This work?
The worker’s compensation is for the protection of both parties – employees and employers, in the event of accident or sickness while the worker is doing his job.

Employees can only claim for this benefit if their injury or ailment is because of the job they did. It could be a slip or fall when they get injured lifting heavy things or packages, or an accident occurred while operating any of the machines.

The injured party should visit a healthcare professional immediately. This visit is for a doctor to check his injury or condition, and provide a medical report supporting upcoming claims for the benefits.

Who Should Carry This Out?
With a small number of exceptions, almost every state obliges industries to procure workers’ compensation coverage for their workforces. 

Businesses that fail to provide this benefit could face severe and expensive consequences. The employer would have to pay for any claims out of pocket such as medical expenses and loss of wages. They could also face fines and civil suits that could result in imprisonment or losing the right to open businesses in the state or outside of it.

It is practical and vital for the business to get workers’ compensation benefits for their employees. It is, undeniably, one of the ways that you could take care of the company you have worked hard to build. Research and ask around for the best coverage you can get. 

At Cornerstone Insurance Agency, we put our clients first by offering them policies that they can afford. Having insurance is a necessity nowadays and we're here to help you out. Learn more about our products and services by calling our agency at (888) 661-8831. You can also request a free quote by CLICKING HERE.