Workers Compensation Insurance: What Business Owners Should Know

If you own a business and have employees, workers compensation insurance is an important part of protecting both your employees and your business. Workplace injuries can happen even when you have safety measures in place, and having the right coverage can help your business handle the costs that may follow.

What Does Workers Compensation Insurance Cover?

Workers compensation insurance generally helps provide benefits when an employee is injured or becomes ill because of their job. Depending on the situation and policy, coverage may help with:

• Medical expenses related to a work-related injury or illness
• A portion of lost wages
• Disability benefits
• Certain costs associated with an employee’s recovery

Workers compensation is designed to help employees receive support after a work-related injury while also providing protection for the business.

Who Needs Workers Compensation Insurance?

Workers compensation requirements can vary depending on the state, type of business, and number of employees. In North Carolina, businesses that regularly employ three or more employees generally must carry workers compensation insurance or qualify as self-insured, although exceptions may apply. Because every business is different, it’s important to understand the requirements that apply to your specific situation.

Why the Right Coverage Matters

Workers compensation isn’t just about meeting a legal requirement. The right coverage can help protect your business from unexpected expenses and give your employees added peace of mind. Your coverage needs may also change as your business grows, you hire additional employees, or your employees’ roles change.

Need Workers Compensation Insurance?

If you’re looking for workers compensation insurance, Tillman Insurance Advisors can help you review your business needs and explore your coverage options.

Fill out our contact form with your information and a few details about your business, and a member of our team will reach out to discuss your workers compensation insurance needs.