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Workers Compensation: Valuable Coverage for Companies and Employees

Workers compensation is a unique insurance policy that protects not only employees, but the company as well.

In the event of a work-related injury or illness, an employee could be eligible for lost wages, medical costs, and in some cases, even disability. These costs could be devastating and payouts can be life long, meaning financial devastation companies that are held financially responsible.

Any company, regardless of the industry, has the potential for work-related injuries. Even relatively safe industries and small, family-owned businesses are not without risk. Accidents can happen at any time. Even if the company has safety protocols in place, and strives to create a safe work environment, often, things happen that are beyond our control.

Workers compensation is designed to provide protection, by providing reimbursement to the injured employee, preventing your company from having to pay out-of-pocket for the costs.

Here are three areas that workers compensation provides coverage for:

  • Work-Related Injury or Illness
    If an employee sustains a work-related injury or illness, it would be the company’s responsibility to pay for the medical expenses. Workers compensation will pay compensation to the injured employee for medical expenses, as well as a portion of lost wages.
  • Work-Related Disability
    If an employee becomes disabled due to a work-related incident, the company would potentially be responsible for paying for his or her disability. Workers compensation offers valuable compensation for injuries that result in disabilities.
  • Work-Related Death
    Should an employee tragically fall victim to a work-related death, the family members could collect death benefits. With workers compensation, the insurance would pay dependents death benefits.

While no one likes to consider these possibilities, it is best to be covered just in case, rather than go without coverage, and find yourself in a crippling financial situation that could lead to financial devastation, or the closure of your company.

Contact Texas Energy Insurance with any questions you have regarding workers compensation insurance, and make sure your company is protected today.