Workers compensation plans provide wage and medical benefits for anyone who is injured at work or gets ill while working. This coverage is required by each state. Therefore, the benefits will vary depending on the locale.
Covering Your Employees’ Medical Costs and Lost Wages
Technically, workers compensation insurance in Shillington, PA covers medical costs, rehabilitation expenses and lost wages of workers. It can also be used to pay for the death benefits of someone who gets killed while working.
A Required Business Insurance
Pennsylvania, as well as all the states in the U.S., requires employers to buy workers compensation insurance for their workers. This insurance covers the employees in the company who are not considered owners. A business that fails to provide this coverage can face expensive and severe penalties. These penalties may include out-of-pocket fines for claims and even imprisonment.
What Can Happen to You If You Do Not Buy the Insurance
Businesses that do not purchase workers compensation insurance may also lose their privilege of conducting business in the state. To ensure that your insurance agent knows about your commitment to providing this coverage, you need to add proactive activities that will keep your employees safe on the job.
For instance, it helps to feature workplace safety training to lower this risk of an accident and possibly lower your premiums. Besides buying workers compensation coverage, you should consider buying commercial auto insurance, general liability coverage, and property insurance. All these types of insurance packages provide loss control solutions for today’s businesses.
When covering your employers for workers compensation, plan to implement a number of safety controls and activities. Know what you need to do in case one of your employees slips and falls or how you should report an accident after it has occurred. Work with an agent that understands how these activities can help you make the best use of your insurance coverage.
Stay in the Know About Business Insurance: Contact Your Agent Today
Learn more about business insurance coverage by contacting a company such as Anderson Insurance Brokers. Stay in the know about your business insurance coverage options.
