Worker’s Compensation Insurance 101

Worker’s compensation insurance is a mandatory coverage that compensates an employee who suffers a work-related injury. This also includes disability, death benefits and lost wages in case an employee is unable to work. As an employer, it is crucial that you have a worker’s insurance cover for your employees. Otherwise, you might be responsible if any of your employees suffer a job-related illness or injury. Consulting with a Long Island worker’s compensation insurance company is highly suggested for a quote.

Please note that the worker’s comp benefits do not apply if your employee intentionally hurts themselves. The benefits are also not available for intoxicated workers and those who get injured outside work.

So, What Are the Benefits of Worker’s Compensation Insurance?

It Protects Your Workers

Your employees are such a valuable asset to your business. Work-related accidents and injuries have extensive effects on their productivity and, in worst cases, their careers. That said, safer working conditions mean fewer accidents and, therefore, lower worker’s compensation cases and fees. Ultimately, these savings could translate to great incentives for other employers across the globe to provide safer working environments for their employees.

It Protects Your Business

By having a worker’s compensation insurance policy, a business might avoid incurring huge fines and compensation in case of an accident. Uninsured employers might also be at risk of facing potential charges from injured employees, which might attract high fees and possible settlement. There are several Nassau & Suffolk County worker’s compensation insurance companies to help set you up with a policy.