Protecting Workers: What Kind of Coverage Do You Need?

Workers Compensation

Any job can come with occupational risks. Even office jobs pose potential hazards to employees. As the employer, you are obligated to protect your staff members who are injured on the job. Before you decide on the coverage you need, it’s important to understand the details of personal accident insurance vs. workers’ compensation.

Workers Compensation

Many companies pay workers comp premiums to cover the medical costs and lost wages of employees who suffer on-the-job illnesses or injuries. As referenced on, workers compensation coverage has several benefits:

  • Benefits can kick in quickly
  • Plans can cover all the injured employees’ losses
  • Employees cannot sue employers except in specific cases

Personal Accident Insurance

Personal accident policies work more like a liability policy. Employers select the amount of coverage they think they need, and the policy pays expenses according to the limits of the policy. This coverage may be appealing if you have a low-risk workplace as it can save you money on premiums. However, it’s important to keep in mind that, if the costs associated with an employees’ injuries exceed your plan limits, you may be liable for the difference.

No matter what type of plan you choose, it’s essential to know that your employees are protected if they are injured while at work. You need sufficient insurance to cover the costs associated with workplace injuries.