Do I need workers’ compensation insurance?
One of the most important aspects of your business is your staff. Protecting your employees is important to your business
from all potential hazards and you from any liability. Workers̵7; compensation insurance is designed to protect both employers and employees. Workers’ compensation benefits are available to injured workers in the state of Massachusetts that cover medical expenses related to the worker’s injuries or financial assistance if an employee is unable to work due to an on-the-job accident. Under Massachusetts workers’ compensation laws, the amount of money and assistance will vary depending on the extent and severity of the injury. Workers’ compensation insurance covers medical expenses and lost wages for injured workers, and pays for the employer’s legal defense fees in the event of a lawsuit. If you have any questions, contact our office at 413.475.7283 or fill out our quote form online today!
All employers in the state are required to have workers’ compensation insurance for their employees, regardless of whether they work full-time or part-time, and for themselves. If a limited liability company (LLC), limited liability partnership (LLP), unincorporated business, or sole proprietorship does not have employees, the company purchasing a workers’ compensation policy may be optional.
Massachusetts has some of the lowest workers compensation rates. So how much does worker’s compensation cost? The insurance premium is determined by several factors, including:
- The industry the business is in.
- Total staff salary.
- Past history of claims submitted by the company.
Besides being required in Massachusetts, there’s no arguing that workers’ compensation insurance is good for you, your business, and your employees. Make sure your small business complies with all MA business laws and statutes. This insurance coverage can ensure that employers will pay special benefits in the event that a worker is killed, becomes ill, or is injured while on the job. A basic work policy can provide your employees with the following:
- Vocational rehabilitation
- Medical expenses
- Lost income/wages
- Rehabilitation costs
- Death benefits
It is important to know that workers are working under a “no-fault” system. One of the biggest benefits for employees with this coverage is that they don’t have to prove that someone was at fault to get the coverage. However, there are exceptions to how the employee caused their injury, which include horseplay or being drunk on the job. In addition to this, in order to receive coverage, the employee simply needs to prove that he or she was doing his or her job at the time of the accident.
At Encharter Insurance, we understand how important it is that things run as smoothly as possible. Having workers’ compensation insurance can protect you and your business from costly lawsuits that can arise when an employee is injured, sick, or killed on the job. It can also help alleviate problems with the government and your employees. The commercial line agents at Encharter are here to help put together the right worker competency policy for your needs in MA. Call Encharter Insurance today at (888) 754.8299 or use our online form and contact us to receive your replacement policy quote. www.encharter.com/request-quote
Source: https://www.workcompone.com/blog/massachusetts-workers-compensation-insurance-explained and https://www.encharter.com/business-insurance/workers-compensation-insurance/massachusetts-workmans-comp- insurance/