As the owner of a small business operating in the United States, you must have workers compensation insurance to protect every member of your staff. Experts generally recommend that you have enough coverage to pay for both the medical bills after an accident as well as the lost wages that worker will suffer from until he or she can come back to work. Every time that you pay your premiums on time, the insurer will continue your coverage. You can opt for micro captives and other options based on the type of coverage you need. Every business in the country needs some type of workers compensation.
Medical and Rehabilitation Insurance
When most employers think about workers compensation, they think about the insurance that covers medical and rehabilitation costs. When a worker suffers an injury on the job, he or she will need to see a doctor. That worker may come back the following day or a few days later. With more serious injuries, the worker may need physical rehabilitation for weeks or even months before that employee can do his or her job again. Your insurance policy should cover all the medical expenses that employees have after an accident.
Not all types of injuries sustained on the job are those that employees can recover from in the short or long run. There is a risk that an injury may disable a worker, which will leave him or her unable to work. Your policy should cover both permanent and temporary disabilities. A temporary disability can affect a portion of the body or the entire body. It will leave an employee off work for a few months or longer. A permanent disability can also affect one section of the body or the whole body, but it will leave employees unable to work for the rest of their lives.
Though no one likes to think about it, accidental deaths can happen on any job site. A worker might die because a piece of machinery malfunctioned or because of a car wreck that occurred while driving a work vehicle. Workers compensation policies must always include death benefits that go to the family of that worker. You may purchase additional insurance on employees too. If you have any questions about buying a workers compensation policy, you can talk with a provider about what your company needs.