Workers Compensation is Assurance for Employer & Employee Alike
If you’re a business owner, it’s important to have the appropriate insurance protections in place if an employee is injured on the job. Trying to obtain coverage after the fact simply will not work. In other words, you need to be covered in advance. That’s exactly what a proper workers compensation policy does: It ensures that an injured worker's medical and financial needs are taken care of when accidents happen.
What is Workers Comp? Who Needs It?
Workers compensation insurance spreads and shifts the risk for on-the-job employee injuries from employers to insurance providers. Doing so protects the business from work-related claims and legal exposure. Business owners can breathe easier knowing employees will be properly cared for if an accident happens without posing a threat to the company’s profitability or to its solvency.
This policy provides reimbursement regardless of who’s at fault for an on-the-job injury. If the injury occurs during the normal scope of normal job duties, the insurance company will pay all applicable benefits.
What Does Workers Compensation Cover?
Workers Compensation covers several expenses related to a worker's recovery from an on-the-job incident:
- • Lost-time payments
- • Medical care reimbursement
- • Rehabilitative services payments
When Should I Carry Workers Compensation Insurance?
In terms of required coverage, Texas law provides business owners with greater flexibility compared to other states. However, even if you're not legally required to this policy, David Coufal Insurance recommends it. If an employee sustains an on-the-job injury, responsibility for related medical payments and lost wages will ultimately fall on you, the business owner.
For more information on this topic, you can visit: http://www.tdi.texas.gov/wc/employer/index.html.
Contact David Coufal Insurance Agency Inc For a Free Insurance Quote
At David Coufal Insurance, we’re dedicated to helping all our clients make informed coverage decisions. That’s why we’re here to answer your every question regarding workers compensation insurance or about any of our other numerous commercial insurance products.
If you’re ready to see how much you could save on insurance policy for your business, call David Coufal Insurance Agency today at 254-986-2448! For a free online insurance quote, fill out the quote form on this page!