/ BLOG

5 Essential Facts You Should Know About Workers’ Compensation

Apr 30, 2021 · 5 minutes to read

No matter how safe a workplace is, accidents can always happen. Injuries, illnesses and fatal incidents can happen on the job in just about any industry or profession. Fortunately, workers’ compensation laws and programs help protect workers in the United States should any of these happen in their workplace.

What is workers’ compensation?

Workers’ compensation is a financial payment made to an employee who suffers a workplace injury or becomes seriously ill or dies while on the job. It is an old concept, with roots in several ancient civilizations. The purpose of these early workers’ comp laws was to provide workers with money to compensate them for a serious injury, usually losing a body part.

The modern workers’ comp system in the United States traces its roots to Europe in the late 1800s, when the rights of workers began gaining importance. It has also expanded beyond just compensating employees for serious injuries. Workers’ comp systems now assist employees while they recover and if they are permanently disabled in the workplace.

5 Facts about workers’ comp you should know

The idea behind workers’ compensation is simple, but the reality can be complicated. Here are five facts to help demystify the process:

1. Workers’ Compensation insurance is probably required in your state

Except for Texas, all states require most small businesses to carry Workers’ Compensation insurance.

Workers’ Compensation insurance provides benefits to your employees when they make a claim against your workplace for injury or illness. These benefits cover:

  • Medical bills
  • Replacement wages
  • Disability support
  • Death benefits

Typically, small business owners must have a Workers’ Compensation policy in place before they hire their first employee. In some cases, even sole proprietors are required by law to carry a policy. Workers’ comp laws vary from state to state, so always check your local requirements to ensure you are properly covered.

2. You should make a workers’ comp claim as soon as possible

Filing a workers’ comp claim with your insurance company is an essential step towards getting your employees the support they need. It can also save you from out-of-pocket expenses, such as covering an injured employee’s paycheck while they recover.

You may also be legally required to make a claim as soon as possible. For example, employers in Florida must report a workplace injury to their insurer within seven days of learning about the incident. A Workers’ Compensation insurance claim can be denied if you do not report it on time, potentially leaving your business open to a lawsuit.

3. Providing info can help smooth the claims process

The faster a Workers’ Compensation insurance claim is resolved, the better for your employees and business. There are ways you can help the claims process go more smoothly and get your employee the financial support they need as quickly as possible.

After a workplace injury occurs, it’s important to collect and save evidence. This may include photos of the scene, testimony from witness, or the equipment that was being used. Your insurer will use this information to process the claim. Providing them with the evidence and other information they need in a timely fashion will help remove unnecessary delays from the claims process.

4. Not all types of claims are covered

While Workers’ Compensation insurance covers a wide range of workplace injuries and other expenses the business may face, there are some events that are not covered. These often include:

  • Injuries caused while intoxicated or on drugs
  • Injuries sustained by independent contractors
  • Injuries claimed after an employee is fired or laid off
  • Wages for replacement workers
  • OSHA fines

Always read the policy wording when buying Workers’ Compensation insurance to understand what is and isn’t covered by your policy. If you have any questions, your insurance agent or your insurer’s customer support team can help.

5. Workplace safety can help reduce claims

Workers’ Compensation insurance provides an important safety net for your employees and your small business. However, avoiding workplace injuries should be a top priority for all employers. An unsafe work environment can also help increase your Workers’ Compensation insurance premiums.

Creating a culture of safety at work starts with you. Make sure your business has workplace safety guidelines to help prevent injuries and an emergency action plan for if things do go wrong. Schedule regular safety training sessions to educate and refresh staff and encourage them to speak up if they observe unsafe activities at work.

Find the right Workers’ Comp insurance for your business

Understanding local workers’ comp laws is an essential part of running a small business today. The right Workers’ Compensation insurance policy not only helps you stay on the right side of the law, but also protects your employees and your business.

BizInsure helps you find different business insurance policies you may need, including Workers’ Compensation. Compare multiple policies from multiple insurers and buy in minutes, so you can get back to running your small business.

Get Free Online Quotes and get coverage instantly

The coverage you need for your business.

Business insurance is divided into different policies. We offer 4 types so it's easy to design the coverage that fits your business.

Professional Liability Insurance

Get a quote

General Liability Insurance

Get a quote

Business Owner’s Policy (BOP)

Get a quote

Workers Compensation Insurance

Get a quote

Let's find

The coverage you need for your business

Professional Liability Insurance

Get a quote

General Liability Insurance

Get a quote

Business Owner’s Policy (BOP)

Get a quote

Workers Compensation Insurance

Get a quote

Love it
Hanna R.
1708272180
Every year, BizInsure is my go to for general and professional liability insurance! Thenrates are unbeatable.
Calandra K.
1708044666
The agent was quick and efficient in generating a quote for my needs.
Theresa F.
1707895796
I enjoy working BizInsure they always answer all my questions and make sure i have the correct coverage for my business.
Prompt and professional service from Biz Insure. Thanks Leslie and Liza!
Bev G.
1707524454
Very easy to sign up for insurance.
Great company
Brown G.
1706896003
Fast and efficient!
Kim C.
1706746693
عالی
alireza J.
1706727364
It was great being able to get a policy that suits my company's need in less than 30 minutes. They were vey thorough. Very competitively priced.
Lynette C.
1706621476
I worked with Andrea for another start up business. She was very knowledgeable and help me pick the correct policy. Amazed at how quickly the process went.
Representative was very kind, helpful, and educated me well. I appreciated today's prompt service with confirmation that I was satisfied with what was provided to me.
Tina P.
1706224051
Great company for.your low cost business insurance needs.
constantin T.
1706156911
Staff was very fessional and friendly. I was able to get a quote and move forward within 20 minutes.
Pebbles S.
1706126428
Wonderful
Complete C.
1705788054
MUY BUENO
Super easy process.
Ashley G.
1704830227
It’s very easy to understand and at a very reasonable price.
Mary M.
1703780096
Professionalism, Quality, Responsive and budget friendly
B D
1703029371
Great rates, easy to understand and select appropriate coverage, can get in a jiffy
Brie C.
1702775397
I have been a customer of BizInsure for a few years now and I love it. There customer service is awesome and the prices are affordable.
Danyale W.
1702132165
Quick easy experience! The rep was knowledgeable & pleasant. Customer care was awesome to respond and clarify my concerns.
Kathy Ann A.
1702059151
bizinsurance makes purchasing Business Insurance...SIMPLE!
Andrea W.
1701380391
Great quality of Service ,faster and convenience way to pay at most. Thank you for your Service to my Healthcare Facility .
Quick and easy!!!!
Terry
1701319042
Great service! Easy process and very informative representative. Andrea was great and very patience with our process. I would recommend using them!!
Terrance R.
1700848536
Always and easy process. Thanks!
Gerald S.
1700244544
Renewal was quick and easy online
Angelita K.
1699752900
I had a great experience working with Andrea from BizInsure. She was extremely knowledgeable, helpful, and responsive throughout the entire process. She guided me through the different options available and helped me find the perfect home care professional liability insurance policy that suited my needs. Her professionalism and expertise made the entire experience smooth and hassle-free. I highly recommend working with Andrea and BizInsure for all your insurance needs.
Juliette S.
1699032636
Easy to submit an application and to get quotes
Simone S.
1698775217
I had the most pleasant prompt and professional experience of my life with Bizinsure. Everything was completed in record time, at an unbelievable cost…and my certificate of Insurance was promptly emailed to me. Most of all it was effective immediately. No hassle no back & forth, just great service highly recommend to all small businesses.
Marcia S.
1698407456
Excellent
advanced U.
1697824466
Great service. Very professional and cordial. Thanks
Jeremiah U.
1697064641
BizInure has been a great company for our insurance needs. I wish customers services was 24/7, that would make it a five stars
Novilette L. J.
1696828014
Easy to navigate what you need. Always notify ahead of renewal!
Athena T.
1696646371
js_loader
Google Rating
4.7
Based on 241 reviews
×
js_loader