Do I Need Workers’ Comp Insurance?

January 25, 2023

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Workers’ compensation insurance, also called workers’ comp or workmans’ comp, is a business insurance which protects both you and your employees in the event of a work related injury or illness. Of course, employers always strive to maintain a safe workplace. However, even in the best workplace environment, injuries and accidents happen. 

What Kinds of Accidents and Injuries Will be Covered? 

State law determines which injuries and accidents will be covered. Any self inflicted injuries or injuries resulting from drug use will not be covered. However, workers comp generally covers injuries which happen in the course of work or as a direct result of employment. One time injuries, as well as injuries or illness resulting from long term exposure to work conditions are covered. 

One time injuries or accidents can be employee slips or trips in the course of work. Long term exposure to work conditions or repetitive motion can cause injuries or strains. A clerical employee sitting by a computer all day may develop carpal tunnel syndrome. Repetitive motion sprains and injuries are also common by assembly line workers and employees doing manual lifting. 

In the event of a fatal workplace injury, workers comp will help with the funeral and burial costs. In some cases, it can also provide financial assistance to the family and loved ones of the deceased employee. 

Why Do I Need Workers Comp Insurance?

Let’s take care of your most valuable asset - your employee! If your employee gets injured on the job, workers comp will help defray medical costs, as well as cover a large portion of  lost wages while your employee is out recovering. 

Employers benefit in multiple ways from having workers comp.

Workers comp policies include an additional coverage called Employers Liability. This coverage protects both the employer and the company. It is triggered when the employer is sued by the injured employee or their family if they choose to sue for more money in addition to the work comp benefits that are already being paid to the injured worker.

Workers comp will save you a lot of money by providing financial assistance for medical costs and lost wages to the employee. Without workers comp insurance, a work related injury can financially devastate your business with legal fees and medical fees.

Additionally, workers comp is required in most states to be compliant with the law. Once your business has a certain number of employees, or in some states even 1 employee, it is required by law. In some states, these numbers vary depending on the industry in which your business operates.

Do I Need Workers Comp Insurance? 

Workers comp insurance is mandatory in almost every state. There are differences from state to state, you can contact a licensed and knowledgeable Kickstand agent or check your state requirements. In many states, there are penalties for uninsured employers, such as fines or jail time. 

Workers comp is there to protect small businesses from lawsuits and be compliant with state laws and workers comp requirements, while helping you and your employees in the event of an accident. 

At Kickstand Insurance, we can help you get the workers comp policy you need to protect your business and be compliant with your state. 

Ready to protect your business and your employees? 

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