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No matter how much attention you pay to safety, your business is always at risk of having an employee injury. When your workers are hurt badly, they will require emergency care, first aid treatments, and possibly hospital stays. When the injuries are bad enough, there might even be extended needs such as disability, physical therapy and rehabilitation.
Without this critical business insurance coverage, your company will be responsible for paying all of the bills that arise when workers get hurt. Additionally, you may find yourself the subject of lawsuits and be required to pay extra restitution. Normally workers comp insurance is required by federal law so carrying it is beneficial in multiple ways.
Workers comp for electricians may be a mandatory insurance coverage requirement by federal law in your area. Even in the rare cases that it is not, it is still one of the best investments you can make in your company. When you have any type of employee, workers compensation coverage protects your business as well as each employees’ interests. It is designed to pay for all of the relevant, necessary costs that arise when someone gets hurt in the process of performing their job duties. It pays for medical care, first aid treatment, rehabilitation, disability and more.
While you can strive to reduce the number of injury incidents at your company, it is not possible to eliminate them completely. When an employee gets hurt and the injury is serious, they will need emergency medical care. Workers comp insurance for electricians covers the associated costs. It can pay for the ambulance, the emergency room care, a hospital stay, various medical tests, prescriptions and related costs that commonly occur when medical care is needed.
Minor injuries might only require first aid treatment, but there are costs associated with these events as well. First aid treatment may be as simple as using items out of your company’s first aid kit or it might require services from paramedics or a trip to your local outpatient clinic. Workers compensation insurance pays for various costs like this so that neither you nor your employee has to.
When accidents cause serious injuries to occur, the affected employee may be ordered by his medical team to discontinue working for a temporary period of time. This is often labeled as temporary disability because the employee is expected to make a full recovery and be able to return to his normal work duties in time. Workers compensation insurance can pay for the employee’s financial needs while he is unable to work. It can also pay for associated recovery expenses such as prescription medications, specialists and physical therapy.
If an employee is permanently disabled, that means their injuries were severe enough that they will no longer be able to work in the same field for the rest of their lives. Being unable to continue working means the employee will need financial support for an extended period of time. Workers comp for electricians includes this coverage as part of the policy.
When employee injuries cause disability, sometimes the employee is able to be retrained in a new field and become gainfully employed again in the future. Retraining normally involves educational expenses, and workers compensation insurance can pay for these costs and those associated with the rehabilitation.
In the unfortunate event that an employee dies from an accident they have while performing their work duties, workers comp insurance for electricians can pay the related expenses such as the cost of a funeral or death disbursements to the employee’s family.