Workers’ compensation insurance exists to cover the costs associated with on-the-job injuries, both for employees and employers. It keeps your workers from having to shoulder the burden of medical costs and lost wages, and it can protect you from having to cover those costs as well. When you purchase a policy as part of machine dealer insurance, there are at least five things that it should cover.
One of the first things injured employees should do is visit their doctor. Workers’ compensation can pay for medical treatment for work-related illnesses and injuries. If the doctor insists that the employee take time off work to recover, workers’ comp can cover lost wages to take care of basic expenses. Depending the amount of time required, the employee may be entitled to coverage of ongoing care, such as rehabilitation, appointments and treatment with specialists or surgery after-care.
The workers’ comp portion of your machine dealer insurance may go beyond medical costs and lost wages. If an accident results in employee death, workman’s comp may be used to pay for the funeral or possibly even death benefits to surviving dependents. Finally, if you do get sued for workplace accidents, including employer’s liability in your workers’ comp policy can help cover legal fees and settlements. Having a strong workers’ compensation package benefits both employees and employers.