by Daniel McClain on Jan 20, 2015
Federal law requires that employers provide worker’s compensation to each of their employees. And many employers wrongly assume that this evens the playing field, and makes rates the same from company to company.
This however is simply not the case. Instead, the world of worker’s compensation can be a confusing one to navigate. Here, to help you more effectively navigate that world, we have compiled this list of a couple of the most important things you should know before purchasing a worker’s compensation insurance policy.
The first thing you need to know about worker’s compensation is what exactly it covers. In effect, worker’s compensation policies cover two main categories of injuries and illnesses:
In addition to those two main types of worker’s compensation coverage, it is also important to note that worker’s compensation is a no fault insurance type. This means that it will compensate your employees no matter who is considered to be at fault for the accident.
Some employers believe that worker’s compensation insurance will only cover medical expenses, but that is not necessarily the case. Because injuries can lead to more than simply short term medical expenses, there are many more things to be covered.
Among covered expenses are medical costs, a percentage of the salary, job rehabilitation, modified employment for the transition between recovery time and fulltime work.
Obtaining a great worker’s compensation policy is essential to your company, and the experts at Insurance Center Associates are here to help! Contact us today for more information.
1622 S. Gaffey #104
San Pedro, CA 90731
C & S Insurance
3220 Sepulveda Blvd #202
Torrance, CA 90505