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While no business owner wants to see a worker injured, accidents happen all the time. As an employer, you are legally obligated to make sure you provide a safe workplace and compensation in the event of an accident or injury.

Workers compensation insurance serves two purposes: 

1. It assures that injured workers get medical care and compensation for a portion of the income they lose while they are unable to return to work
2. It usually protects employers from lawsuits by workers injured while working

Workers compensation covers:

• Both full-time and part-time employees.
• Most injuries that arise from work-related duties. The most common workman's comp injuries are related to traffic accidents that occur while an employee is driving for work-related purposes.
• Workman's comp also covers some illnesses and diseases that are contracted as a direct result of employment. This is typically related to toxic chemicals, and laws about covered illnesses vary from state to state.

Rules vary from one state to the next and can also vary depending on employee’s occupation. Some states only require workers compensation insurance if you have a minimum number of employees, while other states exempt some categories of workers.

Lower your insurance rates:

• Manage your risk. Make every effort to keep the workplace environment safe for your employees to minimize accident risks.
• Experience modifiers. This means your insurance provider will offer a customized premium based on previous losses.
• Compare Premiums. A Forward Insurance agent can help you find the most cost-effective workman's comp insurance by offering customized quotes from multiple companies. By taking time to compare premiums, you’ll get peace of mind, knowing that you’re not paying too much for workman's comp while also providing for your employees should they be injured.

Does Workers Compensation Protect against Lawsuits?

In practically every case, workers compensation acts as a safety guard against lawsuits, but there are times when you can still be sued. These lawsuits are generally restricted to situations where an employee suffered a fatal accident and the employer is accused of gross negligence. The rules regarding lawsuits vary from state to state, so it’s best to check with your insurance agent and your state workers compensation regulator to see what is and isn’t covered, so you can best ensure complete legal protection.