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Types of Workers' Compensation

Workers’ compensation insurance policies typically offer the same amount of coverage. Working with an Ansay agent can help you find the right amount of coverage for the right price. You will want to consider how much coverage you need for the following benefits when picking the best fit for you:

Medical Expenses

The primary use of a workmens’ compensation insurance policy is typically paying for medical expenses incurred from an injury while on the clock.

Ongoing Expenses

Depending on the nature of the injury, ongoing medical treatment can be covered as well.

Wage Replacement

An injury at the workplace can often cause a lasting injury, and workers’ compensation insurance can ensure that missed work doesn’t mean a depleted savings.

Disability Coverage

Workplace injuries resulting in a partial or permanent disability may require durable medical equipment, job retaining, and amenities for daily living.

Death Benefits

Unfortunately, the death of an employee due to an on-the-job accident is a reality you should be prepared for. This coverage can help with funeral expenses and survivor benefits.

It’s important to note that workers’ compensation insurance does not protect employees who are under the influence, commuting to or from work, or a variety of other situations that may not fit into the category of a workplace injury.

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Who Needs Workers' Compensation Insurance

Most states require that a business with any employees carry workman's compensation insurance coverage. If you are a sole proprietor or run a small business with no employees, you may not be required to have workers’ comp, but if you work as an independent contractor, some companies may require that you carry a workers’ compensation policy to minimize their risk exposure even though you are not legally obligated to carry one. The best way to be sure is to check with an expert – agents at Ansay & Associates will be able to help you determine your need for a workers’ compensation policy, along with other business insurance needs.

How Much Workers’ Compensation Insurance Do I Need?

Determining the amount of workers’ compensation coverage you need to protect your business starts with the number of employees working for you. Some policies only cover full-time employees, but you may be legally required to cover part-time employees and subcontractors as well. Beyond the number of people you employ, job classifications will play an important role in determining how much coverage you will need, along with other work-site risk factors and state requirements.

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Frequently Asked Questions

Answers to Frequently Asked Workers' Compensation Insurance Questions

What is Workers' Compensation Insurance?

Workers’ compensation insurance is protection for an employee and employer in the event of a workplace or work-related accident. This coverage can include payment for medical bills, disability benefits, and wage replacement.

Is a business required to provide Workers' Compensation Insurance?

With the exceptions of Texas and Wyoming, all 48 remaining states and the District of Columbia require that an employer carry Workers’ Comp.

How much is Workers' Compensation Insurance?

Prices will vary depending on the number of employees and their job classifications. A general rule you can apply is approximately $1 in premium for every $100 of payroll.

What is the Workers' Compensation Insurance process?

The claim process starts with filing a report identifying the work-related injury or illness, then contacting your insurance provider and the state’s workers’ comp board and OSHA. If there is a disputed claim, an employee will be required to demonstrate that the injury is work-related.

Can an employer cancel Health Insurance while on Workers' Compensation?

No punitive actions can be taken against an employee with a filed workers’ compensation claim, so coverage cannot be canceled in response to a claim, but there is no general protection for health coverage, and it could be allowed to lapse in some circumstances. Additional filings, such as Family Medical Leave of Absence (FMLA) may be required to provide extra layers of protection.

Contact Us

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Keep you, your business, and your employees from the detrimental cost of work-related injuries and illness with a workers’ comp plan that’s just right for you. Call and speak with an Ansay & Associates agent to get a workers’ compensation quote today.

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