As a business owner in New Jersey, the moment you hire your first employee, you take on some form of risk as anything can happen to them while at work. That is why you need workers’ compensation insurance that protects you and your employees as well. To understand more about this form of commercial insurance, O’Donnell Agency LLC explains what it covers.
Medical Expenses
Workers’ compensation insurance helps cover employees’ medical bills resulting from a work-related injury or illness. This can include a visit to the hospital, surgery, and prescribed drugs. For example, if your plumber falls and twists his ankle, workers’ compensation insurance will help pay for their visit to the emergency room.
Missed Wages
After a work-related injury or illness where your employee needs to take some time off to recover, workers’ compensation insurance can help replace that lost income. If one of your roofers slips and falls and cannot come to work for a week or two, this type of insurance will help cover those lost wages.
Ongoing Care
At times, a work-related injury or illness can be so severe that one of your workers will need ongoing care like physical therapy or follow-up treatment. Workers’ compensation can help cover the cost of continuing care.
Funeral Expenses
In extreme cases, an employee may lose their life due to a work-related accident. In such circumstances, workers’ compensation insurance helps cover the funeral costs as well as provide death benefits for the beneficiaries of the deceased.
Illnesses
There are working conditions that can expose some employees to dangerous chemicals that can cause an illness. If one of your employees gets sick and requires treatment and ongoing care, this form of commercial insurance helps cover those expenses.
It is essential that business owners in New Jersey find the right insurance company to work with. If you are shopping for commercial insurance, you can contact us at O’Donnell Agency LLC. Our agents are ready to help ensure that your business and your employees are covered if you are exposed to risks.