The Most Common Workplace Injuries
- The U.S. Dept. of Labor reported 4,836 fatal work-related injuries in 2015.
- More than 10,000 severe work-related injuries were reported in 2015.
- In 2015, work related injuries led to 2,644 amputations and 7,636 hospitalizations.
- Injuries were most common in the food processing, warehousing, storage, and general freight trucking sectors.
Work-related injuries can vary dramatically from one industry to the next, ranging from simple slip-and-fall accidents to repetitive motion injuries or machine entanglement. Overexertion injuries are by far the most common, costing American businesses $15.1 billion each year. A maintenance worker could slip on a wet floor and get a concussion, or a machine worker could lose a hand after an accident. If you don’t have workers compensation insurance for your business and the incident leads to a lawsuit, you could be on the hook for legal fees and judgments.
What Is Workers Compensation Insurance?
When you own your own business, you find yourself juggling many responsibilities. From payroll to inventory, it seems that the work never ends. However, if there is one area that you cannot afford to put on the back burner; that’s workers compensation insurance. Work-related injuries are always tragic and they can quickly become a legal nightmare. That’s why every business owner should take action in advance by choosing a reliable workers compensation insurance for their employees.
As an employer, you are legally obligated to make sure that you provide a safe workplace and compensation in the event of an accident or injury. Workers compensation insurance provides you with the peace of mind that comes from knowing that your business is always covered. If someone gets hurt on the job, your workers compensation policy will make it possible to provide complete medical care benefits along with lost wages until your employee is well enough to return to work.
What Injuries Does Workers Compensation Cover?
Workers compensation insurance covers the majority of injuries that arise from work-related duties, giving you a safety net for any injury sustained when an employee is on the job. The most common workers comp injuries are related to traffic accidents that occur while an employee is driving for work-related purposes. While the commute to and from the workplace is not be covered in most cases, any travel done specifically for work-related purposes is covered. Workers 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.
How Much Does Workers Compensation Cost?
Workers comp premiums vary depending on the size of your payroll, the type of work your employees do, and the State where you live. A small business might only pay around $3,000 per year for workers compensation coverage, while a larger company with many employees could pay upwards of $100,000 per year or more. Another factor that greatly impacts the cost of workers comp insurance is previous claims history. If your business is focused on a sector that is known to be dangerous, such as machine work, transportation, or logging, you’ll likely pay higher premiums than a business that offers simple office or clerical work, like an accounting firm.
Does Workers Compensation Protect against Lawsuits?
Before workers compensation insurance was first created, an employee could sue the business owner after a work-related injury or accident. The legal process was always cumbersome and the outcomes were often not what the employers hoped for. This led to a nationwide conversation about a better system and the eventual beginnings of workers comp as we know it today.
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 regulators to see what is and isn’t covered, so you can best ensure complete legal protection.
How to Buy Workers Compensation Insurance:
Choosing the best workers comp insurance starts with talking to an experienced insurance professional at Horizon Insurance Services. Our agents can help you navigate your options for workers compensation in your State and match you with budget-friendly policies that offer maximum protection for your business. Horizon Insurance Services can provide you with rate quotes from a wide network of carriers, giving you the best chance to find affordable, reliable protection against work-related injuries for your business. Call us today to learn more about workers compensation insurance and get a free customized workers comp insurance quote for your business.