What Is Workers’ Compensation Insurance?
Workers’ compensation is a type of accident insurance that’s offered by employers to their employees. It protects employees if they are injured or get sick while working. Workers’ compensation will help cover the costs associated with missing work and receiving medical treatment. For example, if you are injured while on a business trip or get into a car accident while completing tasks for work, the costs related to these incidents could be covered by workers’ compensation.
Why Do I Need Workers’ Compensation Insurance?
In Oregon, any employer that has at least one employee is required to have workers’ compensation insurance. As a type of no-fault insurance, workers’ compensation must be available to all applicable workers at the company. Choosing the right kind of workers’ compensation coverage will depend on many factors, including the number of employees, the work environment, and the types of activities performed by employees. In addition to making sure that your business follows state law, this type of insurance can help improve the company’s culture by showing that you value your employees’ safety and well-being.
What Does Workers’ Compensation Insurance Cover?
A workers’ compensation plan will cover a variety of costs associated with injuries or illnesses that happen on the job. This can include medical care, lost wages, rehabilitation, legal services, prescription drugs, and other expenses. While some injuries on the job, such as a slip and fall, are straightforward, there are other, less obvious injuries and illnesses that can also be covered by workers’ compensation. This includes chronic back pain or diseases like cancer and lung disease that result from prolonged exposure to dangerous work environments. However, workers’ comp does not necessarily cover every incident. For example, workers’ compensation probably won’t cover the costs of an injury if:
- the injury was inflicted as a result of starting a fight
- the worker was committing a crime when they were injured
- the injury was suffered while the employee was violating company policies
Get a Free Quote Today
Finding the right workers’ compensation policy for your business requires a keen understanding of the law and your business’s goals. Don’t trust your business to an online-only or one-size-fits-all policy. Our team at Focus1 Insurance Group has you covered. We work with more than 12 different insurance providers to help you find the right coverage solution. Get started by requesting a free quote.