Workman’s Compensation insurance is good for businesses and workers. Workers need to be protected if they are injured on-the-job. Likewise, businesses need to be protected if a worker is injured. Years ago, injured workers had to sue their employers to receive compensation. Paying damages meant financial ruin for many companies. Now, forty-nine states and the District of Columbia require employers to have insurance. Texas is the only state that doesn’t require coverage.
Most businesses buy a policy from an insurance company or broker. Many large businesses are self-insured. If your business needs Workman’s Compensation Insurance in Los Angeles, get in touch with Work Comp For Less Insurance. They have been insurance brokers for many years and give quotes on their website, www.workcompforless.com. Premium amounts for workman’s compensation insurance vary. For example, construction companies generally pay more than a company with desk jobs. Other factors include claims’ history, payroll and company size.
An added benefit to Workman’s Compensation Insurance in Los Angeles, is that the insurance policies are no-fault. That means the company nor the employer are held responsible for the injury. Workman’s compensation insurance allows a company to provide all the necessary benefits for an injured worker. Employers are required to post a list of doctors in the workplace. Injured workers select a doctor from the list, unless it is a situation where they need the emergency room. Authorized doctor bills, hospital bills, physical therapy and prescriptions are covered. The insurance also pays mileage for medically-related travel.
Injured workers receive weekly income benefits if they are disabled. The benefits are usually two-thirds of the worker’s regular salary. Injuries are classified as catastrophic and non-catastrophic. For example, catastrophic injuries include severe burns, paralysis, amputation, severe head injuries and blindness. Workers with catastrophic injuries are offered rehabilitation services if they cannot return to their regular job. Insurers also pay death benefits to dependents if an employed is killed in a job-related accident. All workman’s compensation benefits are tax free. In most states, companies receive stiff fines if they don’t have workman’s compensation insurance. The government wants to make sure that injured workers are compensated. Companies who don’t have insurance must pay all the worker’s benefits out of their pocket.
