Most people take job safety and on-the-job injuries seriously, no matter if you are a business owner, contractor or employee. Workers Compensation Insurance is designed to support both employers and workers when an injury does occur, though many people have incomplete or incorrect information about worker’s comp. There are some common misconceptions about Workers’ Compensation Insurance, and today, we at InsureWise would like to set the record straight.
Setting the Record Straight on Workers Compensation Myths
Myth – The injury needs to have happened on site if you want to file a claim.
Fact: They have standing to file a claim, whether it occurred at your place of business, enroute to a business-related event, or completely off-site if an employee gets injured while conducting business. This matters because the same way you could if they were in the office, you can’t always minimize an employee’s risk while they’re at a regional conference or on their way to meet a client.
Myth – Only medical bills are covered with Workers’ Compensation.
Fact: Covering wage replacement, vocational rehabilitation services, and other damage, Workers’ Compensation insurance can go well beyond medical bills. An employee can take legal action to get their employer to pay for these damages without Workers’ Compensation.
Myth – It is not worth reporting if an employee gets a minor injury.
Fact: Often a condition of having a Workers’ Compensation policy is prompt and accurate reporting. Additionally, injuries that seem minor at first may develop into something more serious and require expensive treatment. You can also keep your employees from getting the care they need by not reporting these injuries may put your policy in jeopardy.
Myth – Workers’ Compensation is covered by any injury that is work-related will be covered.
Fact: An employee who gets injured from receiving Workers’ Compensation benefits may be disqualified in some situations. While an employee is under the influence of drugs or alcohol or while committing a crime, these include injuries that happen. Additionally, injuries that occur because an employee begins a fight; or injuries that are self-inflicted are other examples. Only in specific states and under narrow circumstances, mental health and psychological conditions are sometimes covered. When an injury will be covered under their policy, and when it won’t be, both employers and employees should understand.
Myth – Workers Compensation Coverage is not necessary.
Fact: It may not be completely necessary though it is true that not all states require business owners to have Workers’ Compensation coverage, and that in some very limited circumstances. There may be some very good reasons to obtain Workers’ Compensation insurance even for sole proprietors, businesses with very few employees, or businesses who only work with contractors. Because if you get injured, they could be liable, some clients may not work with you unless you have a policy. To determine whether Workers’ Compensation insurance is in the best interest of you and your livelihood, be sure to find out the requirements for your state, and then weigh the pros and cons.
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We hope this cleared up the factual information concerning worker’s comp. When you need insurance, whether it is for your business or personal, contact InsureWise or click here to submit a quick quote form and let us help you get the right coverage.