Running a business means taking care of your people — and that includes protecting them if they get hurt on the job. That’s where Workers’ Compensation Insurance (commonly called workers’ comp) comes in.
Whether you’re hiring your first employee or growing a team, this guide explains what workers’ comp covers, when it’s required, what happens if you skip it, how premiums are set, and how claims work.
What Does Workers’ Comp Insurance Cover?
Workers’ comp provides financial protection for both employers and employees when a work-related injury or illness occurs. It covers:
1. Medical Expenses: Covers hospital bills, surgeries, doctor visits, prescriptions, and ongoing care for work-related injuries or illnesses.
2. Lost Wages: Replaces a portion of an employee’s income (typically around 66%) while they recover and cannot work.
3. Rehabilitation Services: Covers physical therapy, occupational therapy, or retraining programs if the employee can’t return to their original job right away.
4. Disability & Death Benefits: Provides financial support for long-term or permanent disability — or survivor benefits to a family if the worker dies from a job-related cause.
Workers’ compensation insurance isn’t just a legal requirement — it’s smart risk management. It protects your team, keeps your business compliant, and shields you from costly lawsuits. As your startup grows, having a workers’ comp policy in place is a sign of professionalism, responsibility, and long-term thinking.
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