Workers Compensation Insurance Coverage Explained

According to Massachusetts’s law, each and every organization with employees is required to carry workers compensation insurance coverage. This holds true even for organizations that only employ one person, even if that worker is employed on a part time basis. So if you own a business or run a company or organization, chances are high that you’re familiar with this law. That being staid, it’s also important for you to fully understand what your workers compensation insurance coverage policy is all about. The bottom line is that workers compensation coverage is an insurance policy that is intended to protect your employees.

In essence, the insurance policy offers disability, medical care, and rehabilitation benefits to any of your employees who are injured while on the job or performing job related activities. Workers compensation coverage also covers death benefits for any of your employees who are killed while on the job or performing job related activities. On the other side of the coin, the policy covers your best intersects as the owner or operator of the organization since the insurance company is the one who pays out the benefits and compensation if something goes wrong.

As far as your premium/cost of the policy, it depends on a combination of your payroll and the particular duties that your workers take part in. In essence, if your employees have dangerous jobs, your workers compensation insurance coverage will be more expense than organizations with employees that are at less risk. For example, if you own a roofing company, your premium will be higher than a business that has employees working at an office. If one of your workers is injured, disabled, or dies while performing his or her job related duties, the benefits are typically awarded to them or their family on what’s called a no-fault basis.

However, if the employee is under the influence of drugs or alcohol at the time of the accident, they may not be eligible for workers comp benefits. In addition, your employees may be required to take a drug test immediately after they’ve been in the accident. Although it is your job to do everything within your power to keep your workers safe and sound while on the clock or on the job, accidents do happen. That is exactly why workers compensation coverage is there in the first place.

Your policy will protect your employees and provide them with a portion of their lost wages, on top of paying for their medical bills. It will also protect your organization if an inured employee happens to bring a lawsuit against you.

If you own or operate an organization that employs anyone in the Commonwealth of Massachusetts you need to ensure that you have the proper insurance policies in place. Please consult with a professional insurance agent that specializes in providing business related insurance policies. It is important to fully understand exactly what you are buying when it comes to insurance policies. If you have any questions, please call (508) 831-0133 to contact an associate at Zawada Insurance. We are happy to walk you through the details of your insurance policies and explain your coverage options. We look forward to helping you with all of your personal and or business related insurance needs now and in the future.

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