Workers Compensation Insurance

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Keeping your employees safe at work is important to most business owners. But when a worker does suffer an injury, workers compensation coverage provides your employees with the protection they need, and you with peace of mind that you're business is protected.

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It’s the law.

Workers' compensation insurance is mandatory for businesses if they have employees, no matter what the job requires. Illinois, Wisconsin, and all other states mandate having work comp, except for Texas where it is optional. It covers medical costs and a portion of lost wages for employees who become injured or ill on the job.

Workers' compensation is like an airbag for your business. When trouble strikes, it deploys to help your employee get back to work as fast as possible, minimizing the damage to your business. If that sounds like a luxury to you, keep in mind, it's probably a good thing for your business. Imagine having to pay for a slip-and-fall accident out of your business checking account.

It’s a good thing for you and your employees.

Workers' comp insurance also provides employer liability coverage which may also protect you from being sued by employees for workplace conditions when a court finds your company liable for causing an injury or illness to your employees.

What if it’s caused by employee carelessness?

Under normal circumstances, fault does not matter in a workers compensation claim. Each state has its own workers compensation system, which is a mandated program to compensate employees who are injured in a workplace accident or rendered ill because of the job. It’s designed to ensure payment by employers for some part of the cost of injuries, or in some cases, of occupational diseases, contracted by employees in the course of their work.

Workers compensation basics

Since work comp insurance typically only covers injuries or illnesses when they occur as a result of duties performed on the job or while at work, the scope of the coverage of the policy is limited to duties performed by employees. Injuries that may be covered by work comp insurance include lifting heavy equipment, slipping on a wet or oily surface, or sustaining an injury, due to fires or explosions.

Workers Compensation Insurance may cover:

  • Medical bills for employees hurt or sickened at work
  • Ongoing care, including rehabilitation
  • Wages missed while recovering
  • Employee lawsuits over injuries
  • Funeral expenses, if an employee is killed on the job
  • Death benefits to support the deceased's family

It does not cover:

  • Third-party lawsuits
  • Lawsuits over professional errors
  • Wages for a replacement worker
  • Parental leave benefits
  • OSHA penalties

Why We're Different

While most insurance products are similar in price and function, insurance providers vary when it comes to structuring a policy tailored to you. After all, there’s no such thing as a one-size-fits-all insurance policy when it comes to your business.

Contact us today, and we'll help you protect what matters most. It’s Insurance Simplified to get work comp insurance quotes when you work with Held Insurance Agency. Our office is located in Mount Prospect, Illinois. Serving all of Illinois and Wisconsin.

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