In reality, Workers’ Compensation Insurance is as important as (and in some cases, even more important than) General Liability Insurance.
Workers’ Compensation Insurance is a No Fault Insurance
This means it will pay regardless of fault for employee injuries while on the job. In essence, if an employee is injured while performing a work related duty, then Workers’ Compensation insurance will pay a portion of that employees salary for a specified period of time.
Workers’ Compensation Insurance is a State Requirement.
Workers’ Compensation Insurance is mandatory regardless of whether the coverage is purchased or not. In the event that an employee is injured while on the job, they will be paid the state statute. What this amounts to is that if there is an injury, and your company does not have the required coverage, then your company will be responsible to pay the state mandated statute.
If you do not have Workers’ Comp and there is an injury, you could be forced to pay.
If you do not have Workers’ Compensation, then your company can and will be responsible for thousands or even hundreds of thousands of dollars in injury damages to your employee(s) if they are injured on the job.
Please contact Regan Agency regarding this coverage as our firm has many options and solutions for placement of Workers Compensation Insurance.
If you do not have Workers’ Comp and have employees, you may be issued a fine.
Also, please keep in mind that because this coverage is mandated by the state, you may be levied with fines and penalties for not having coverage. If this is the case and you have already been issued statements of fines and or penalties, we may be able to assist you in addressing these issues.
If you have any questions about Workers’ Compensation Insurance or not sure if you need coverage, please contact us for a needs assessment.
We currently Offer Workers’ Comp, Workers’ Compensation Insurance Coverage In Massachusetts.
As many people have already found out, Regan Insurance Agency is the best stop for a quote on their Workers’ Compensation.