What is workers' comp insurance?
Workers' compensation insurance (often called workers' comp) is a type of business insurance that provides financial protection to employees and employers when a worker gets injured or sick due to their job. It covers medical expenses, lost wages, and rehabilitation costs for employees, while also protecting employers from lawsuits related to workplace injuries.
Key Benefits of Workers' Comp Insurance:
✅ Medical Expenses – Covers doctor visits, hospital stays, surgeries, medications, and therapy.
✅ Lost Wages – Reimburses a portion of lost income if the employee can't work.
✅ Disability Benefits – Provides compensation for temporary or permanent disabilities caused by a work-related injury.
✅ Rehabilitation Costs – Pays for physical therapy or training for a new role if the employee can’t return to their original job.
✅ Death Benefits – Offers financial support to dependents if a worker dies due to a job-related incident.
Who Needs Workers' Comp Insurance?
Most states require businesses with employees to have workers' comp insurance, though rules vary by location and industry. Even if it's not legally required, it's often a smart investment to protect both the business and employees.
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