3 Reasons Why You Still Need Workers Compensation Insurance In 2022

​Workers' compensation is a government-mandated system. This insurance policy is aimed to pay workers who become injured or disabled while still employed by a company.

This article will help you understand the importance of this insurance policy and why you need it. 

Benefits Of Workers Compensation
Workers' compensation helps pay for medical bills, lost wages, and funeral expenses. But, not everyone knows about this insurance. Below are a few reasons why workers comp is beneficial to your company or any given working environment:

Protection Against Lawsuits
Lawsuits can be costly and time-consuming and work both ways for employees and employers.

Instead of settling things in court, the time spent there could be used to continue business instead, and the funds to pay lawyers could be spent to improve working conditions, buy new equipment, structure maintenance, and the like.

Sustained Workforce and Production
Workers’ compensation could help secure business because injured employees can return to the field after recovering. And as a result, minimizes the economic impact of those missed days.

Medical Bill Coverage
This insurance policy can cover medical expenses, rehabilitation services, and lost wages due to the worker’s inability to continue working. But keep in mind that there may be limits to how much your insurance plan covers.

Conclusion
Workers consent to yield their right to sue the company for negligence by agreeing to receive workers' compensation.  If you believe you are not covered under your state’s workers' compensation laws, take the time to find out if you're entitled to benefits. Work with an insurance agent to find out what your rights are.

It’s also good to remember that workers comp is a lot different than unemployment benefits or disability insurance. 

At Schneiderman Insurance Agency, Inc.​, we put our clients first by offering them policies that they can afford. Having insurance is a necessity nowadays, and we're here to help you out. Learn more about our products and services by calling our agency at (818) 322-4744. You can also request a free quote by CLICKING HERE. Coverage discussed in this article is not guaranteed. Please contact our agents to find out information about your specific policy. We are happy to help you obtain the coverage you need!