Workers Compensation Insurance, Texas
The experienced agents at the Thumann Agency can put a Texas Workers’ Compensation Insurance package together that can help safeguard your employees in the event of injury or illness during employment, while at the same time protecting your business from an employee lawsuit.
Workers’ Comp Insurance help's injured employees get back to work. It provides the employee and employer with peace of mind that there will be medical expense coverage for an incident that takes place on the job. Additionally, as the business owner providing comp insurance, you are protecting your business from being sued by an injured employee, thus safeguarding your bottom line.
Have Questions? Call (972) 991.9100
Workers' Compensation Covers These Five Things
- Medical Costs to Treat Illnesses and Immediate Injuries
- Legal Costs if an Employee Sues You over the Injury
- Missed Wages
- Ongoing Care - surgery, rehabilitation, and treatment from specialists
- Funeral Costs and Death Benefits - According to the Texas Department of Insurance, the number of fatal work-related injuries in 2015 was recorded as 527.
Workers’ Compensation Doesn’t Pay For Injuries That
- Are intentional or self-inflicted
- Result from horseplay or voluntary drug or alcohol intoxication
- Are inflicted by someone for personal reasons unrelated to the job
- Result from voluntary participation in off-duty recreational, social, or sports events
- Result from “acts of God” (like floods or hurricanes), unless the job has a high risk of such injuries.
How Much is Workers’ Comp Insurance?
As with many other types of insurance, rates for workers' compensation policies are calculated using several different factors. These factors include the total number of employees, the type of business operations the company conducts, and the total annual payroll.
One example; a construction company in which workers are working at high altitudes or frequently operating heavy machinery would have a greater chance of an accident than an accounting office. The construction company would, therefore, have a higher workers' compensation premium. Some larger employers will be affected by their prior claims experience with premium credits for low claim experience and increased premiums for those with more claims. The cost of Workers’ Comp insurance is based on a rate charged per $100 of payroll. Rates do vary from state to state.
Workers' Comp insurance is purchased as a separate policy. Although business owners policies (BOPs) are sold as package policies, they do not include coverage for workers' injuries.
To find out more about Dallas Workers' Comp Insurance or any of our other business insurance products and services, contact us today at, (972) 991.9100