Workers’s compensation insurance is a kind of insurance that, unlike other policies, is mandated by each state. Although the coverage vary, nearly every business is required to offer workers’ comp insurance.

This coverage ensures that an employee’s medical expenses are covered if they were to get injured on the job, or fall ill at work. The trade-off of a great workers compensation insurance policy is that the injured party can not take legal action on their place of work — even though the injury happened at their place of employment.

On this page, we’ll talk about what workers comp insurance covers and why you should hire an insurance agency like Rick Baker Insurance to help you craft a custom policy.

What does workers’ comp insurance cover?

Workers’ comp insurance policies are in place to protect both the employer and employee in different ways.

As we said earlier, workers comp coverage ensures that an employee doesn’t have to pay out of pocket for any injury that happens on the job. In turn for the medical coverage, the employee can’t take legal action on their employer for the injury.

If you’re a business owner, the coverage that you need to provide your workers varies based on your industry, how many employees you have, what kind of equipment they use at work, and more.

However, keep in mind that every state requires some sort of workers comp insurance, and if you don’t have a policy, you could find yourself in severe financial trouble.

Workers’ comp in action

How does worker’s comp work?

Let’s say you own a processing plant that processes and packages building materials. If one of your workers fails to operate their machinery correctly, and ends up backing into a storage unit, giving themselves a concussion, you, as their workplace, would be responsible for their medical bills.

In turn, they could not take legal action on you for faulty equipment.

Do you need a workers’ comp insurance policy?

If you’re looking for a Colorado insurance agency that can provide you with a workers’ comp policy, Rick Baker Insurance can help.

Our knowledgeable representatives can talk to you about the different coverage options as well as inform you on what kind of coverage is required for your business in the state of Colorado.

If you have any questions, or if you would like to schedule a meeting with one of our insurance agents, give us a call at 303-444-3334 today!

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