Accidents can happen despite your best efforts to prevent workplace injuries. This is where workers’ compensation insurance is necessary. It protects your employees if they are injured at work and also your business from associated claims and lawsuits. Without workers’ compensation insurance, you are liable for workplace accidents and related losses, which could financially ruin your business.
Read on to learn how workers’ compensation insurance can help your small business stay afloat.
Workers’ compensation insurance is required in several states although they are governed by varied laws and regulations. For example, in Alabama, you are required to buy the policy if you have 5 or more employees, whereas, in Arkansas, you need it if you have more than 3 employees.
Having workers’ compensation insurance is helpful to protect your business, notwithstanding your state’s regulations. For instance, if an employee becomes ill or injured at work, they may sue you, seeking compensation for their medical expenses or lost wages. Unless you have workers’ compensation insurance, you will have to cover these expenses out of your pocket.
Purchasing a workers’ compensation policy is essential because you are responsible for protecting your employees, whether they work at the office, at home, full time or even, part-time.
Like in-office workers, remote workers should be covered by workers’ compensation insurance, since they are also susceptible to slips, accidents, and ergonomic injuries caused by poor workstations. If you buy a policy for them, ensure your remote workers’ work environment is safe and ergonomically correct to avoid frequently filing claims. An insurance provider may also consider your remote workers’ working environment and possible risk factors before providing coverage.
It covers your employees’:
It won’t cover:
The cost of worker’s compensation insurance varies depending on the size and location of your business, nature of work, employees’ payroll, and claims history. You can get quotes from different insurance providers and settle with the one that provides comprehensive coverage at an affordable cost.
If you are looking for all-inclusive workers’ compensation insurance in New York, contact us today at Abatelli Insurance Group. We provide coverage tailored to unique risk exposures and needs of your business, ensuring extensive protection at all times.
Employers in every state are required to carry some type of protection for their employees. This means they must have a Workers’ compensation policy in place or another form of insurance to ensure employees are sufficiently compensated for their medical expenses and any wages they may have lost due to their work-related injuries. When an employer does not have proper coverage, the employee has options they can pursue to be compensated. Before choosing a path to follow, ensure that all of your documentation is in order.
One of the first things an injured employee should do when they have experienced a work-related injury is to contact a personal injury attorney. If your employer does not have Workers’ Comp insurance or no other means to compensate you, then you can ask your personal injury attorney to file a lawsuit on your behalf. Time is of the essence, and filing deadlines must be met. It’s important that you have as much documentation as possible when hiring your personal injury attorney.
States across the country have an uninsured employer’s fund. If you find out that your employer does not have Workers’ compensation insurance, you can file a claim with the Uninsured Employer’s Fund. The key is to file as soon as possible after the accident and make sure to provide as much documentation as possible. Photographs and witness statements will be needed to substantiate your claims. You should also have any medical reports related to the work-related injury. Present the entire file when you make your claim with the state.
An injured employee also has the option to file a short-term disability claim. Short-term disability will provide some compensation but not as much as an actual Workers’ comp claim. The short-term disability claim must be filed with your employers’ insurance and followed up by regular visits to your doctor. A short-term disability normally only remains in place for approximately three months. If the injury is more severe and more time is needed, a lawsuit may be the employee’s only other option.
Even though your employer does not have Workers’ Compensation insurance, they may attempt to settle with you. It’s important to ask for a mediator or someone who can negotiate a settlement amount for you. Hiring a personal injury attorney or having someone from your insurance company recommends a mediator will ensure that you receive sufficient compensation for your injuries.
Being injured at work can be frustrating, especially if your employer does not have any Workers’ comp insurance to fall back on. If you have questions and need answers from a knowledgeable agent, contact us today. At Abatelli Group INC., our agents have the answers you are looking for and will be able to guide you through the whole process of getting compensation from your employer.