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When your concrete contract in company decides to take on staff, you expose yourself to more potential risks. Employees expect a certain level of protection and care from their employers. If they get injured while working for you, or if they get extremely ill and feel it is because of something related to their job, they will expect you to take care of them in several different ways. The cost of emergency room treatment alone can often be more than your company is able to absorb. If there are ongoing expenses for related medical treatments, medications, rehabilitation or disability, you are extremely unlikely to be able to cover all of them alone. Several types of related risks can generate additional problems.
Workers comp insurance for concrete contractors is designed to mitigate many different types of risks that are rise when you have employees on staff with your company. To an employee, workers compensation is a safety net if they are ever physically hurt or become ill because of the work that they do. To an employer, this coverage is an essential way to protect your company from legal actions that sometimes occur when a member of your staff is physically hurt, disabled, or dies from an illness or injury caused by job duties or environment. This coverage allows you to comply with laws when workers comp is required, helps you investigate and deflect potentially fraudulent claims, and may help ensure your company complies with standard OSHA safety requirements.
Lost Wages and Medical Care - if one of your employees is injured physically while performing his normal job duties, workers comp insurance for concrete contractors will pay for lost wages and related medical care. Lost wages occur if the employee must spend several hours at the hospital, or if he has to take time off work for follow up care visits with his doctor. The coverage will also pay for the costs associated with these visits and the medical care provided.
Business Travel Protection - Workers comp insurance for concrete contractors provides extra levels of protection to your employees when they must travel outside their normal work areas for the job. All of the standard benefits your employees are covered by any workers’ compensation policy can be in effect when they are traveling.
Employer’s Liability - an employee is not required to try and prove that his employer is liable for injuries or illnesses in order to file a workers’ compensation claim. If the employee decides to file a claim however, to collect for damages above and beyond what the workers comp policy provides, your litigation defense costs and related settlement fines or judgments will be paid for by the policy.
Employer’s Liability in Monopolistic States - workers comp is handled directly by the state in some areas of the country. In these cases, your company may be required to use the state designated fund or trust for your workers comp coverage. With your own policy, you retain the protection benefits against employer liability even when you are required to use a state mandated plan
Legal Expense - Concrete Contractor workers comp insurance will pay for your legal fees and related defense expenses that arise if you are sued for employee injuries. Legal expenses can range from the cost of paying a lawyer, the costs of filing court paperwork and documents, and payment of financial rewards for settlements that may be ordered by the court.
Third Party Suits - sometimes an employee feels that your accident was caused due to the fault of someone else. They might decide that a manufacturer designed a tool badly or a mechanic used inferior parts when making repairs. Whatever the accusation, they may decide to sue that person or company instead of you. The company being soon may turn around and sue your company as a result. They may claim that you did not train the employee properly, or that you did not maintain the equipment in a safe way. Workers comp insurance for concrete contractors helps with these third party lawsuits, by providing for your defenses and related financial needs if you lose your case. This section of your policy also protects you from lawsuits that may arise when an employee’s family members sue you for liability.
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