Workers’ Compensation Insurance: What are the coverages?

It is required in almost every state of the United States for companies to provide a form of workers’ compensation insurance to their employees. It provides compensation for injuries dealt to your employees when they are performing tasks for the company. It’s important for companies to have knowledge about what’s covered to make full use of the policy. Below are the coverages provided by a workers’ compensation insurance.

Medical bills
Companies are responsible for injuries and illnesses employees get when they’re working, even if it may be the fault of the employee. A workers’ compensation insurance will help cover medical costs related to the injury or illness, such as the cost of hospital stays, medical treatments, prescription drugs, or even the cost of calling an ambulance. The policy also covers ongoing care for your employees such as long periods of multiple surgeries.

Death benefits
Similar to a life insurance, this policy would ensure the financial stability of the employee’s family if the life of your worker is lost due to a work-related incident. The payment would usually be given through a weekly instalment. The policy also helps your company cover burial costs for your employee.

Legal costs
Costs arising from lawsuits because of an employee injury can be expensive. Fortunately, a workers’ compensation policy may include a liability coverage, which will help you pay for these costs.

Lost wages
When an employee is unable to work, you would still have to pay at least a part of their wages. This can be difficult to the company, because a lot of other costs arise when an employee is absent. Workers’ compensation insurance will help you pay for the lost wages to ease the company’s burden. Consult your insurer to find out about how much of the lost income will be recovered.

Vocational rehabilitation
Some accidents may prevent your employee from working in your company ever again. Through vocational rehabilitation this policy will provide said employee the skills needed to perform in another job and have another career.

Exceptions
​While the policy covers for injuries that may be caused due to the workers’ negligence, there are some circumstances where injuries and illness won’t be covered. Injuries caused by fights, drug abuse, alcohol, and self-inflicted injuries are some examples of what’s not covered. Make sure to read through your policy as well as contact your insurer to know more about what are the exceptions.
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At CSIS Insurance Services Inc., we work hard to make sure that our clients are well-protected with policies that they can afford. To learn more about how we can help you, please contact our agency at ​(888) 501-2747 or Click Here to request a free quote.