If you own a business you have a responsibility to provide a safe work environment for employees. No matter how careful you may be, accidents can happen. It is necessary to have TX workman’s comp insurance in case an employee is injured while on the job. Workers’ compensation is a type of insurance that provides benefits to workers if they are unable to return to work after a work-related injury.
Understanding Workers’ Compensation
When an employee is working for your company they expect to be kept safe from harm. When an accident occurs and an employee is injured, the worker requires medical care and could be out of work for a period of time during recovery.
TX workman’s comp insurance provides a method of handling claims that arise from on-the-job injuries. Workers are able to file a claim and obtain medical treatment without having to pay out of their own pocket. In addition, workers will receive a portion of their regular pay for the time they are off work because of the injury.
In general, all medical expenses are covered including emergency care, diagnosis, treatment, surgery and ongoing care. Workers may require rehabilitative care for a period of time as part of their recovery process. Workers are not allowed to return to work until they are cleared to do so by the physician.
Why You Need TX Workman’s Comp Insurance
Worker’s comp claims go through a standard process that is in place. When an employee is injured at work you may be liable for the payment of any expenses related to the injury. This could include a variety of damages and medical care. Medical treatment can be extremely expensive, especially if the injury is severe. Without insurance your company would need to pay the employee directly.
TX workman’s comp insurance covers the employee’s medical costs so they don’t need to pay out of pocket. Employees are allowed to seek medical care through one of the network providers. Insurance also covers the costs of prescription medications through a network of pharmacies.
In addition to medical costs, TX workman’s comp insurance also provides employees with a portion of their wages while they are recovering from a work injury. You must report a work injury to the insurance company immediately following the accident and follow all of the instructions provided.
There is no better way to protect your company from the liability claims of employees than with a workers’ comp insurance policy. Without insurance, your company could end up having to make a substantial payment to someone who was injured at work. Not only could this be a serious financial setback but it could also be problematic for employee relations.
Worker’s comp insurance premiums depend on a variety of factors. Generally, the type of industry is taken into consideration along with the size of your company and other factors. You can generally obtain an affordable policy that will give you peace of mind and protect you and your employees from the financial problems that are associated with job injuries.