Workers Compensation

Workers Compensation Information

What Is Workers’ Compensation Insurance? 

Although preventing work-related illnesses and injuries is a high priority for most businesses, even the most careful employers must be prepared for incidents to occur. When an injury or illness occurs, the ramifications can be dire for both affected employees and your company. Fortunately, workers’ compensation insurance can provide both peace of mind and financial relief. 

Cali Agency utilizes its expertise to help businesses throughout the Lindenhurst area assess their workers’ compensation needs and acquire appropriate coverage. 

What Does Workers’ Compensation Insurance Cover? 

If an employee develops a work-related illness or injury, the resulting damages and losses can be immense. Adequate workers’ compensation coverage can make a significant difference as your employee and company attempt to recover and manage the aftermath. Specifically, most policies will include coverage for the following: 
  • Medical expenses—This coverage can help pay for the treatment and rehabilitation of an employee who has been injured or developed an illness.
  • Wage replacement—An injured or ill employee may be forced to take time off work. Fortunately, this coverage can help them recoup their wages.
  • Legal fees—If an injury or illness leads to a lawsuit, this coverage can help pay your business’s court costs.
  • Disability benefits—This coverage may help with benefit costs and settlements for an employee who develops a temporary or permanent disability following an incident.
  • Death/dependent benefits—In the event of a work-related death, this coverage can provide financial assistance to an employee’s family.

How Much Does Workers’ Compensation Cost? 

Insurance providers must weigh several factors when determining the cost of workers’ compensation coverage. These may include: 

  • Location—The cost of workers’ compensation policies may change depending on the state or area from which you operate.
  • Employees’ duties—The National Council on Compensation Insurance and state officials are responsible for assigning a workers’ compensation class code to all employees based on their duties.
  • Payroll and workforce size— In general, this means businesses that employ a larger workforce should expect to pay higher premiums. This is because the higher your business’s total payroll, the more workers’ compensation coverage you will need.
  • Company history—Providers will consider your organization’s experience modification number, which is determined by analyzing the history of incidents and future risk levels.

Get the Right Coverage 

Even the most diligent and responsible businesses must be prepared for unfortunate incidents. An illness or injury befalling one of your employees is already a serious matter, but the situation could become even more distressing without proper workers' compensation coverage. 

The insurance experts at Cali Agency are well-equipped to help your business assess its workers’ compensation needs and craft a suitable policy. Contact us today to receive a quote and learn more. 

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