Also referred to as workman’s comp, workers’ compensation laws were made from the need to protect both employee and employers. With other personal injury claims, someone is always at fault. However, with workers’ compensation there is no fault. If you are hurt at work, you will receive compensation, unless other factors intervene.
What Does Workers’ Compensation Cover?
Workers’ compensation is usually offered to all employees of the company, and covers lost wages, death benefits, disability and approved medical expenses including:
- Doctor bills
- Hospital bills
- Physical therapy bills
- And other necessary expenses related to accidental injury
Additionally, employers’ liability coverage is part of our workers’ compensation policy that covers the employer in the event they are sued by the employee. Employers’ liability coverage is payable only when an outside party suffers bodily injury or financial injury as a direct result of the work-related injury suffered by the employee. There is one extension of employers’ liability coverage allowing the eligible “outside party” to be the employee.
For more information on workers’ compensation and to learn more about protecting your business and your employees, contact a Bayside Insurance agenttoday.
Easton: (410) 822-2800
Chester: (410) 643-6641
How Much Does Workers Compensation Cost?
The cost of workers’ compensation insurance depends on the amount of risk involved. Certain jobs are more dangerous than others making the workers compensation policy more expensive. The insurance premiums the business pays depends on the employee’s job description as well as the business’ history with workers’ comp. If your business has had claims filed against them before, the cost may be higher.
What Is Workers’ Compensation?
Workers’ compensation is a mandatory type of business insurance that covers medical costs and a portion of lost wages when an employee becomes injured or ill on the job. With very few exceptions, all businesses in Maryland that have one or more employees are required by law to provide workers’ compensation coverage to their employees so that they can take care of employees if an accident were to happen.
Workers receive benefits regardless of whose fault the accident is. Workers’ compensation also covers absence from work due to job related illness. For example, if you work with chemicals and the chemicals make you sick, you may be eligible for workers’ compensation.