Do I Need Workers’ Comp Insurance?

3 businessmen standing and having a conversation about workers' comp insurance
By: 
Mordechai Kamenetsky
Last Updated: 
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.

self inflicted injuries

Any self inflicted injuries or injuries resulting from drug use will not be covered.

injuries which happen in the course of work

However, workers' comp generally covers injuries which happen in the course of work or as a direct result of employment.

One time injuries

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

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

Repetitive motion sprains and injuries are also common by assembly line workers and employees doing manual lifting. 

fatal workplace injury

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.

Employers' Liability

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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Note: The information provided in this blog is intended for general informational purposes only and is not a substitute for professional legal or insurance advice. Laws and regulations regarding workers' compensation insurance are complex and vary by state and by specific circumstances. Therefore, readers are encouraged to consult with a qualified legal or insurance professional to obtain advice with respect to any particular issue or problem they might have.

Mordechai Kamenetsky

Mordechai Kamenetsky, co-founder and lead agent of Kickstand, is recognized as an expert in workers' compensation. He is passionate about helping small businesses manage risks and lower their workers' comp costs. In his articles, he educates readers and clients on the intricacies of workers' comp insurance.

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