Accidents can happen anywhere, even on the job, especially if you work in a high-risk business in an industry where physical labor and machinery are part of your regular duties. Recovering from an injury is stressful enough that you shouldn’t have to worry about how you’ll pay for medical costs. With worker’s compensation insurance in Virginia, you have the protection you need so you can focus on your health.
Even minor injuries can incur heavy medical costs, especially if multiple procedures are needed to address the problem. But if you have worker’s comp, you won’t have to worry about paying heavy bills. In fact, if the incident that caused your injury occurred while you were at work doing your job, this coverage will take care of all your payments.
Sometimes recovery will cause you to miss a large chunk of work time. While there are ways you can be excused from your job, eventually, you might have no more vacation or sick leave left. Fortunately, with worker’s compensation in Virginia you can retain 66.7 of your paycheck even while off the job waiting to be fit to return.
Health and medical challenges can be stressful enough, but financial concerns can compound this anxiety. Thanks to worker’s comp, you have at least one worry taken care of.
According to New Jersey law, all employers who are not covered by federal programs and who are not approved for self-insurance must have workers’ compensation insurance. By having New Jersey workmans comp insurance, business owners can be covered if their employees get injured because of the work these employees performed for the business.
This insurance often also needs to cover lost wages. According to New Jersey law, employees who have been disabled for more than a week may get seventy percent of their wages when on disability. The workers compensation coverage may even pay something to employees’ family members if employees die because of job-related issues. These death benefits often include funeral expenses and seventy percent of the workers’ lost wages. In exchange, the employees and their families cannot sue their employer for problems incurred while working.
New Jersey workmans comp, though, may be expensive for small business owners. New Jersey has an agency in the Banking and Insurance department called the Compensation Rating and Inspection Bureau that determines how much premiums your client may need to pay. As an insurance agent, you want to provide these small business owners, who do so much for our country and its citizens, with coverage that will not bankrupt them but will still allow you to earn a living. Insurance agents, like you, help business owners around New Jersey follow the law, help their employees, and help themselves.