As an employer, protecting your employees and your own business is important. Worker’s compensation insurance allows you to do this. It helps pay employees who are injured or become sick on the job due to the tasks they perform. Having worker’s compensation makes it possible to avoid potentially devastating legal issues. However, when looking through different workers compensation insurance company policies, you need to ask several specific questions. While most insurance providers do not try to pull a fast one on your or give you coverage with an inability to protect your needs, they may forget, or simply not come right out and give you specific answers unless you ask specific questions. Here are a few things to look into and to ask about when selecting the right workers compensation insurance company.
What is an Employees Responsibility Regarding Worker’s Compensation?
When signing up for a policy, many employers assume that is that. The problem is many insurance companies let employers believe this. As a business owner, you need to know there are some specific responsibilities you have and, to ensure your workers receive their proper compensation, you need to follow through with these.
For starters, make sure to post notices in the workplace and let employees know what their legal rights are. Whether in the break room or just in a general area where workers are often located, you need to let them know who the insurance provider is, tell them they have the right to receive medical treatment and you must give employees information about compensation benefits. Failure to do so may cause problems later on when attempting to file an insurance claim.
What it Doesn’t Cover?
Worker’s compensation doesn’t cover everything. You need to know this and so do your employees. This avoid legal issues later on. Generally, your worker’s comp will not cover self-inflected injuries, injuries due to fights, injury suffered off the job, injuries due to horseplay and injuries claimed after a worker is fired.
Having a quality workers compensation insurance company is a must. It protects your employees in the event of an injury. It also protects you and reduces your potential liability with this insurance claim. However, you should never just sign up for any insurance company due to their cost or because you obtain other forms of insurance through them. You need to seek out specific answers for questions they may not directly address.