Workers Compensation

Business owners have a significant number of responsibilities, including having the appropriate amount of insurance coverage. Businesses need a wide range of insurance coverage, including workers’ compensation, to protect themselves, their assets and their employees. 

What Is Workers’ Compensation Insurance? 

Workers’ compensation is a type of insurance that helps cover medical expenses, lost wages and rehabilitation costs for injured or ill employees through the course and scope of their work. It may also provide death benefits to families or employees fatally injured on the job. Additionally, policies may provide liability coverage for employers if a lawsuit is filed in connection to a work-related injury or illness. 

What Is the Purpose of Workers’ Compensation? 

The purpose of workers’ compensation is to protect employers and employees financially are a few examples of how workers’ compensation is used: 

• It can help cover medical expenses and ongoing care if an employee is injured at work in a slip or fall.
• It can help replace some of an employee’s lost income and help with their medical expenses if they break a bone while working and need time to recover.
• It may help cover the costs of an employee’s treatment for repetitive stress injuries, such as carpal tunnel. 

How Many States Require Workers’ Compensation Insurance? 

Most states require workers’ companies with employees to have workers’ compensation insurance, but exact requirements vary from state to state. In Rhode Island, every company with one or more employees generally must have workers’ compensation insurance. A workers’ compensation insurance policy in Rhode Island can help cover the following: 

• Missed wages
• Disability benefits
• Ongoing care
• Funeral costs 

Employers who don’t have the legally required insurance may face criminal charges and penalties, including costly fines and imprisonment.  

Workers’ Compensation Insurance Quote in Pawtucket, RI 

If you want to learn more about workers’ compensation insurance, contact Andrews Insurance Agency. We are committed to providing quality insurance products and guidance for businesses.