Workers' Compensation Insurance
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In any business, there is always a chance that employees could get hurt on the job. You have a duty to protect them as best you can. By carrying workers’ compensation insurance, you can make sure that they have financial assistance in their recovery.
With the help of Reliable Insurance Managers, Inc., you can get a workers’ comp policy that helps ease both the business’s and employees’ financial burdens following workplace accidents.
What is workers’ compensation?
Workers’ compensation is similar to liability insurance. It will help businesses compensate others—their employees—when the employee gets hurt on the job.
Most workers’ comp policies issued in Texas will offer three types of benefits:
- Medical benefits for injury treatment costs
- Income supplements that pay for an employee’s everyday needs, both short- and long-term
- Death benefits that will pay survivors in case someone dies from their injuries
Coverage can provide supplementary income to help the injured party afford unplanned costs that might arise following these injuries. They will therefore be able to better manage their recovery.
What does it cover?
A variety of employee injuries might qualify for workers’ compensation claims, including:
- Injuries sustained on machinery or equipment in the business
- Head injuries from falling objects
- Slip-and-fall injuries
- Injuries sustained in break rooms or bathrooms
- Repetitive motion injuries sustained over years of work
- Injuries from exposures to toxic materials
- Injuries sustained during work-related travel
For example, in a woodworking business, an employee might cut themselves on a saw blade. As a result, they might encounter:
- Significant medical bills, including costs of surgery or rehabilitation
- Lost income if they cannot return to work during their recovery period
- An inability to return to their previous position in the same capacity
- A permanent disability that could make them unable to work at all
With workers’ comp, the business can ensure the employee in question will have a dedicated avenue through which to get assistance with their injury costs. That might lead to less hassle in the long run.
Is workers’ comp required in Texas?
Texas does not require private employers to offer workers’ compensation insurance. However, that doesn’t mean you shouldn’t get coverage anyway.
A lack of coverage means employees can usually sue the business for their injury costs. The costs of litigation and settlements might skyrocket, and the business might have to pay out-of-pocket. With coverage, however, the involved parties can work within the policy’s limits to ensure fair benefits.
What are the benefits of buying a workers’ compensation insurance policy?
There are always benefits to having workers’ compensation insurance.
- It can help prevent the often-costly negotiations that might result from having no coverage.
- Employees who receive benefits often have better chances of making full recoveries.
- If benefits can help employees fully recover and return to their regular duties, then both the business and the employee might face fewer financial strains.
How does workman's comp work in Texas?
The Texas Division of Workers’ Compensation oversees the workers’ comp marketplace within the state.
- Employers must report all workers’ compensation claims to the DWC.
- Injured parties must file an injury report within 30 days of the injury.
- Injured parties must file the formal workers’ comp claim paperwork within a year of the injury.
- Once an employee receives their first impairment rating, they have 90 days to appeal.
Employers must provide the employee with all necessary insurance information at the time they report the injuries. We’ll make sure you have all appropriate policy documentation to verify coverage.
How do I get workers’ compensation coverage?
It’s simple, call us.
Reliable Insurance Managers, Inc. understands the diversity of workers’ compensation benefits that different employers might need. We’ll help you structure your benefits so that they qualify with all state employment laws and never lead to claims of mismanaged benefits.
Call us right now at
713-227-7283 or request a policy quote online. It’s fast and entirely free.