Trusted Workers’ Compensation Insurance
For first-rate, small business Workers’ Compensation insurance look no further than B2Z. We not only offer the coverage you need, but we also make purchasing and maintaining your policy so easy. If this is your first time considering worker’s comp insurance, then you probably have questions. As it happens, we have answers!
What You Need to Know About Workers’ Compensation Insurance
- QWhat is Workers’ Compensation insurance?A
Workers’ Compensation (often referred to as workers’ comp, work comp or simply WC) is mandatory insurance that provides wage replacement and medical benefits to your employees if they are injured or disabled in the course (and scope) of their employment in exchange for them giving up their rights to sue you.
- QWhy do I need Workers’ Compensation insurance for my small business?A
The short answer is because it is required by your state’s statutes. However, like any insurance product you buy, you need Workers’ Compensation coverage to protect you and the assets of your small business.
- QHow does Workers’ Compensation insurance work?A
Workers’ Compensation is a type of “no-fault” insurance coverage. Regardless of who is at fault for an accident in the workplace (the employee, employer, co-worker or customer), an injured employee is entitled to benefits. The workers’ comp insurance company covers medical costs, lost wages and legal expenses for work-related injuries and illnesses in exchange for your premium payments.
- QWhat does Workers’ Compensation typically cover?A
Workers’ Compensation provides coverage in three key areas: (1) employee work-related injury and illness expenses, (2) state law compliance and (3) employee injury lawsuits. Examples include work-site accidents such as slip-and-fall injuries, repetitive motion injuries, car accidents (when an employee is in a vehicle for work purposes), medical treatment and ongoing care costs, lost wages, and even funeral expenses and death benefits in the extreme case of fatal incidents.
- QWhat doesn’t Workers’ Compensation typically cover?A
The most clear-cut answer is that Workers’ Compensation insurance does not provide coverage for situations when your employee is injured while he or she is not working for your small business—this includes accidents while commuting to or from work. It also does not cover injuries if your employee is injured while violating your business’s company policy, while committing a serious crime, or while intoxicated or under the influence of drugs. Self-inflicted injuries (including those caused by a person who starts a fight) are also excluded from workers’ comp coverage.