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When something goes wrong at your business and an employee is hurt, they are counting on you to take care of them. In most states, providing workers’ compensation insurance is a requirement for businesses. An on-the-job injury will endanger both your workers and your company’s daily operations.
Prince Insurance Group offers workers’ compensation insurance to provide peace of mind to you and your employees alike. If used, coverage can account for medical expenses, lost wages, death benefits and more. We offer insurance to businesses in Wheat Ridge, Denver, Lakewood, Thornton, Arvada, Broomfield and surrounding areas.
Should an employee suffer injury or illness while on the clock or within the scope of their job duties, their employer is held responsible for the medical expenses and replacement of lost wages from injury time off. Workers’ compensation covers both parties in case of such an event. It also safeguards your business against injury claims or employee-initiated lawsuits. Contact an agent to learn more about the workers’ compensation insurance our agency offers and secure your peace of mind today.
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Common questions about Workers Compensation Insurance
Get quick answers to some of the most asked questions about workers compensation insurance. If you have additional questions, please contact us.
Worker’s Compensation insurance: what is it?
A couple of functions are served by Worker’s Compensation, the first of which is the protection your employees will receive. The second involves protecting you – the owner of a small business. Whenever an employee accepts Worker’s Compensation coverage, their entitlement to take legal action against you because of an illness or accident they sustain will be waived.
Although specifics will differ from one state to another, you are encouraged to see what your state’s Department of Insurance has to say, and if they meet your requirements. Several laws pertaining to Worker’s Compensation protect companies from getting sued by an injured employee asking for benefits that exceed what is provided by the policy.
What does it cover?
Conditions and injuries generally covered by this type of insurance include the following:
- Dismemberment, disability, or death that transpires while working.
- Rehabilitation and medical costs associated with health issues and injuries that are work-related.
- Illnesses (for instance, breathing or lung problems related to exposure).
- Ongoing stress injuries (for instance, carpal tunnel surgery).
- Injuries associated with work that transpire as part of an employee’s responsibilities.
Worker’s Compensation usually covers an employee’s lost wages (if not a specific percentage of whatever their wage is) while they’re not able to work.
What sort of workplace injuries or accidents aren’t covered?
Several exclusions are made when it comes to Worker’s Compensation, including the following:
- Self-inflicted injuries.
Injuries that transpire despite the rules enforced by company policies. - Negligence by an employee or employer.
- Accidents that transpire when an employee isn’t at work.