Workers' Compensation coverage protects you when one of your employees is hurt on the job, or becomes ill because of workplace conditions. Workers' Compensation is typically mandated by your state(s), based on the number of employees you have, which varies by state. If you’re located in Texas, you may opt out of carrying Workers' Compensation however, you may still be sued if an employee is hurt.
Do you need a Workers' Compensation insurance policy?
If you have employees, the answer is most likely yes. You will be protected from:
- Medical costs due to workplace injury or sickness
- Lost wages due to workplace injury or sickness
- Costs to retrain injured or sick employees returning to work
- Related legal fees
- Wages for a temporary worker
Want to learn more? Contact our small business risk experts.