Workers' compensation insurance, also known as workers' compensation, provides benefits to your employees if they suffer a work-related injury or illness. Some of the most common benefits for company owners are:
Coverage of your health care
Replace most of your lost wages if you take the time to recover
Provide disability benefits
Pay for funeral expenses
Workers’ compensation has benefits for you, as a small business owner, too. If your injured employee or family sue your company, you can help cover your legal costs.
Each state has its own unique set of workers’ compensation laws that employers must follow. These regulations help ensure that employers provide coverage for the cost of work-related occupational injuries or illnesses, regardless of employee negligence.
Workers' compensation insurance can help protect your employees too if:
Fall downstairs at work
Developing carpal tunnel syndrome from poor typing habits
Being injured in a car accident while visiting a client