You’ve heard the question a million times from irritated clients who do not want to add to their existing policy: What is workers compensation insurance? Having a quick reference guide to give them helps explain this type of coverage and why it’s so important.
What It Is
Workers compensation coverage provides an additional layer of protection over a business and its employees should a person be injured while on the job. This insurance is designed to cover the costs of any illness or injury an employee sustains at work.
Why It’s Important
If the employer is not insured properly, the employee may have the right to sue for damages, and if the employee wins, those damages will come out of the owner’s pocket rather than an insurance policy. In addition, most states in the union require a majority of businesses to carry workers compensation insurance—it’s the law, plain and simple.
How to Get It
Once you’ve answered the question, “What is workers compensation insurance,” the next one fired in your direction will be, “How do I get it?” The answer is simple. Work directly with an experience insurance wholesaler that has a strong foot in the diverse worker’s comp marketplace. This provides a multitude of carriers to meet your client’s special needs and the risk management training to go along with the policy.