What is Workers Comp Insurance?

Workers' compensation insurance, also known as workers' comp, is a type of insurance that provides financial benefits to employees who are injured or become ill as a result of their job. The primary goal of this insurance is to provide employees with a measure of protection and support following an on-the-job accident or injury.

Workers' comp insurance covers a range of expenses related to an employee's injury or illness, including medical treatment, lost wages, and other expenses. The specific benefits that are covered will vary depending on the state, but in general, workers' comp insurance is intended to help employees recover from their injuries or illnesses and return to work as soon as possible.

One of the most important aspects of workers' comp insurance is that it protects employers from liability in the event of an employee injury or illness. Without this insurance, employers can be held liable for the costs of an employee's medical treatment, lost wages, and other expenses related to the injury or illness. By purchasing workers' comp insurance, employers can transfer this liability to the insurance company and avoid the potential financial consequences.

In most states, it is mandatory for employers to purchase workers' comp insurance for their employees. It's an important coverage for employers to have, as it can help them protect their business and employees from the financial consequences of an on-the-job injury or illness. Employers should consult with an insurance professional or a lawyer to help them understand the requirements for their state.

If you have specific questions about your Worker's Compensation Coverage, please feel free to reach out to us. We would love to help.