Workers’ Compensation Insurance
Determining whether you need workers’ compensation insurance is crucial for any business owner, as it can significantly impact your company’s financial stability and legal compliance. Workers’ comp insurance is designed to provide benefits to employees who suffer covered job-related injuries or illnesses.
For an analysis of your workers’ comp insurance needs and a comprehensive quote, contact Servi-Express in Homewood, Alabama.
When Is Workers’ Comp Insurance Required?
Most states mandate workers’ compensation insurance as soon as you hire your first employee. Requirements can vary, so make sure you understand your obligations.
State regulations vary by location, with each state having its own rules regarding workers’ comp. Some states require coverage with the hiring of the first employee, while others have different thresholds. Certain high-risk industries might have specific requirements.
Your agent can help determine how Alabama’s workers’ compensation laws may apply to your organization.
What Does Workers’ Compensation Insurance Cover?
This type of compensation insurance is designed to help cover expenses related to work-related injuries or illnesses, including the following:
- Medical expenses coverage may help cover treatment costs, rehabilitation and recovery.
- Lost wages coverage may provide a portion of the employee’s income while they are unable to work.
- Death benefits may be paid if the injured or ill employee dies because of the incident or accident.
Contact Us
For workers’ comp insurance tailored to your company’s needs and industry, contact Servi-Express.