September 2021

23
Sep

Can I Pursue Another Career While Receiving Workers’ Comp Benefits?

Sometimes, employees sustain injuries while working at their workstations. Depending on the severity of these injuries, some end up being unable to work temporarily or permanently. In such cases, the employer is obligated to pay the victims what is known as workers’ compensation benefits. Sometimes, the injured employees might desire to work again, even if it is in a lower-risk capacity. At other times, they may consider changing their career, especially if their injuries impede them from working in the same capacity they used to.

In this guide, we will discuss what would happen to your compensation benefits if you decide to pursue another career.

Will My Benefits Continue After I Change Jobs?

You can change jobs when you want, even while you receive compensation benefits from a former employer. However, doing this will likely affect your benefits regardless of whether the new job is full-time or part-time. If you are considering working in a different industry or capacity, you need to understand the following:

  • First, your benefits can’t be canceled just because you switched employment
  • Secondly, your benefits can’t be canceled if the new job involves less risk and pays less
  • Finally, your benefits can’t be canceled if the new job is different from your current one and pays less

While changing jobs won’t necessarily stop your benefits, it will impact the amount you will receive. That is, your pay rate will reduce, and you will be paid less than you ordinarily would. Further, if the new job pays as much as your current job, the benefits will be stopped altogether.

What If the New Job Is a Part-time Job?

Understandably, you may need to take new jobs to account for the financial gap the compensation benefits are unable to fill. However, regardless of the reason behind your decision, your benefit payment will reduce.

To prevent this from happening, you can decide not to report any income you receive. However, this will make you guilty of insurance fraud, which is punishable by law.

Why Injured Workers May Change Their Jobs

Injured workers still receiving compensation benefits usually consider a job or career change for several reasons. These include:

  • They found a less risk taking job that pays the same and meets the doctor’s recommended physical restrictions
  • They found a job that meets the doctor’s recommended physical restrictions and enables them to progress even though it pays less

If your reason is any of the above, you might remain eligible to receive partial compensation benefits.

Factors to Consider Before Starting a New Job

Several injured workers often find new jobs appealing for different reasons, both financial and personal. However, starting a new job comes with many risks and disadvantages. These include:

  • Returning to work before you fully recover makes you prone to a reoccurrence of your injury
  • Returning to work early could impact your recovery progress or even prevent your full recovery

Keep in mind that your employer is not legally mandated to save your job for you in these instances. Consequently, your position may already be taken over by the time you make a full recovery. Additionally, your employer is not legally required to offer you an alternative position. So, ensure you heal entirely before starting a new job, or you will lose on both ends.

If you are currently facing such a scenario, we can help. At Abatelli Insurance, we are always available to talk more about your options. Contact us today to learn more!

9
Sep

3 Common Questions Related to Homeowners Insurance

Every homeowner needs homeowners insurance. The reason for this is that it guarantees the financial protection of their home and personal belongings.

In this article, we will discuss the basics of the standard homeowners insurance policy and what it covers.

1. What Is Homeowners Insurance?

Homeowners insurance is a policy that protects your home and belongings from damages or losses caused by covered perils, including theft and fire. It may also cover the costs you incur if a guest sustains an injury at your home or you accidentally cause damage to another person’s property.

2. How Much Does Homeowners Insurance Cost?

A standard homeowners insurance policy does not have a specific cost. Instead, you can determine how much coverage you want to purchase and at what price. The cost of coverage will depend on several factors, including the features of your home and the value of your personal belongings. You also have to consider the type of insurance coverage you want.

3. What Does Homeowners Insurance Cover?

A typical homeowners insurance covers the following:

  • Your home’s structure
  • Your personal belongings
  • Other structures on your property
  • Liabilities arising from injuries to guests or damages to someone else’s property

A typical homeowners insurance covers a wide range of perils such as fire, theft, lightning strikes, hails, windstorm, etc. However, it does not cover floods and earthquakes. Consequently, you need to purchase special insurance policies to protect your home from these disasters.

  • Your home’s structure

This is one of the most important coverages offered by a typical homeowners insurance policy. It covers the repair or replacement of the damages to your housing structure due to some of the aforementioned perils.

  • Your personal belongings

Apart from damages to the structures on your property, the typical homeowners insurance also covers all the personal belongings within your home. These include your clothing, jewelry, and electronics. In short, homeowners insurance offers protection from thefts or damages to your personal items upto a certain limit. You can also buy extended coverage for items such as jewelry, fur, and watches with values above your personal property coverage limits.

  • Other structures on your property

Homeowners insurance also covers damages to other structures on your property not attached to your house. For example, a detached garage, fence, and tool shed.

  • Liability coverage

Finally, a homeowners insurance policy covers you when a guest is injured on your property and sues you for their injuries. It covers your legal expenses as well as the related medical bills of the guest if you are found guilty.

In conclusion, homeowners insurance is an effective safety net for the unexpected perils your home and personal belongings may face. Therefore, purchase one today if you don’t already have it. At Abatelli Insurance, we can provide you with customized coverage for your homeowners insurance needs. Contact us today to get started!

COVID-19 Update

Our office remains open and our staff is working remotely to continue to service our clients. You can reach us at (718) 352-6000 Letter to Policyholders