workers compensation insurance in Babylon

Workers Compensation and You

Do you need workers compensation insurance in Babylon? If you own a business or company, and you’ve hired one or more employees, the answer is probably yes. In most states, including Connecticut, New York, and New Jersey, it is mandatory to have workers compensation coverage. With good reason; as the employer, you have a certain responsibility for your employees’ welfare.

Workers Compensation Premium Assessment

While any worker, in any capacity, can be injured on the job, it is important that employees be classified correctly because that has an impact on your risk profile, which in turn affects your premium amount. Other factors involved in determining your workers compensation premium include payroll, number of employees, the kind of work they perform, as well as the industry you work in. This is important because your claims history will be measured against other companies within your industry in order to make an assessment.

Damages Covered by Workers Compensation

You probably already know that workers compensation covers an employee’s medical bills if he or she is injured on the job, and that these medical bills may include therapy and rehabilitation, as well as other expenses involved in an employee’s continuing care. However, did you know that workers compensation insurance also covers lost wages? It’s true; workers compensation recoups some of your employee’s lost wages, though usually not the entire amount.

Seeking workers compensation insurance in Babylon is a necessity for your business. For the coverage you need at a reasonable price, consult an experienced commercial insurance professional.