Learn More About Workers' Compensation Insurance
Key Takeaways
Workers’ comp helps pay for work-related injuries and illnesses
Workers’ compensation insurance can help cover medical bills and lost wages when an employee gets hurt or becomes sick due to work. Coverage may also include rehabilitation services and death benefits.
It protects your business by reducing financial and legal risk
Beyond helping employees recover, workers’ comp can limit employer liability and lower the risk of lawsuits tied to workplace injuries, giving small businesses a clearer path when incidents happen.
It’s often required by state law, and exclusions still apply
Many states require workers’ comp once you have employees. It typically covers job-related incidents, but not injuries outside work duties, such as commuting.
Protection your business needs with a company you can count on.
You know managing your business is hard work. All of the rules, regulations, work, and remembering Hawaiian shirt Fridays is a challenge. Don't let workers' comp be another challenge. Just like your customers count on you to get the job done, the GEICO Insurance Agency, Inc. has partnered with companies to provide Workers' Compensation Insurance you can count on.
Get your free Workers' Compensation Insurance quote.
Do I need Workers' Compensation Insurance?
Most states require businesses with one or more employees to have workers' compensation insurance. Many states require employers to post the identity of the insurer and how to report a claim for employees. In addition to following state regulations, as a business owner you want to protect your business, yourself, and your employees from unforeseen accidents and prevent business interruption.
What is covered in a Workers' Comp policy?
Workers' Compensation policies are regulated by each state and differ based on where you operate. In general, workers' compensation policies provide coverage for lost wages, medical expenses, rehabilitation expenses, and death benefits resulting from an employee, owner, or officer's injury or illness that occurs due to the job.
Incidents can range from sudden accidents to work-related illnesses/injuries that happen over time. Covered medical expenses can include hospital care, surgery, doctor visits, physical therapy, emergency room visits, prescription medication, etc. Workman's comp can also cover when an employee, owner, or officer is unable to stay at (or return to) work and replacement income can be provided.
Are all on-the-job injuries covered by workers' compensation coverage?
In general, workers' compensation policies cover most, but not all, on-the-job injuries – even when an injury is caused by employer or employee carelessness. However, injuries that happen because an employee is intoxicated or using illegal drugs are most likely not covered. Other examples of injuries that may not be covered are injuries suffered when an employee was not on the job or injuries suffered when an employee's conduct violated company policy. The rules vary widely state-by-state, and rules can be changed from time to time.
If I use contractors instead of employees, do I still need workers' compensation insurance?
Contracted workers, leased workers, and some other hiring situations may be exempt from workers' compensation requirements. However, laws differ from state to state and some require companies to provide coverage for contractors. We'd be glad to discuss your current situation with you if you want to call us at (800) 841-1621.
Protect Your Team and Your Business
Workers’ compensation can help when employees get hurt on the job.
