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Workers Compensation

Construction Worker

What Does Workers Compensation Insurance Cover?

Workers Compensation is an essential component to the coverage requirements of any business with employees or any business who is contactually obligated to provide this coverage.  This coverage provides for the immediate medical treatment for injured workers and provides the necessary rehabilitation they may need to get back on their feet.  This coverage will also help compensate your employees for lost wages.  It even provides a death benefit and survivorship benefits.

It is very important to include each state that you operate in your policy to ensure that you benefits when and where your employees need them.

Workers Compensation not only helps your employees but can actually help the business owner too by eliminating the need for employees to sue the business for job related injuries.

What Questions Should I Ask My Agent?

-When should I list a state on my Workers Compensation policy?

-If I use independent contractors rather than emploees, Do I need to include them in my policy?

-When am I required to obtain certificates of insurance from my subcontactors and what happens if they cannot provide them?

-As a business ower, can I exclude myselt from coverage and not have my own wages used to compute the premium?

-What is an audit and what can I do to avoid a large premium increase from an audit?

What Factors Determine Your Rate?

While many factors ultimately determine your rate, here are the most comon:

- The estimated payroll for the next 12 months, broken down into the amount of payroll for each job class

-Each job class is assigned a rate based on the degree of injury expected from performing that type of work

-Your experience modifier. For experienced businesses, this number indicates if your loss history is more or less indicative of an average business.

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