Workers’ Compensation Insurance
As an employer, workers’ compensation insurance is an absolute necessity. Not only is it legally required for most businesses in a majority of states, but it also serves as immeasurable protection for employers and employees alike. Workplace accidents happen even in the safest environments, even to the most careful workers, and even under the watchful eyes of the most safety-conscious employers. But, there are ways to control costs and keep workers’ compensation premiums low. At DiVirgilio Insurance, we understand the importance of not only having workers’ comp insurance, but controlling costs so that it is affordable.
Protection for Workers
If an employee is injured on the job, workers’ compensation will pay for hospital visits, medical treatment and rehabilitation. It will also compensate for time spent out of work with both temporary and permanent disability compensation. In the event that a worker is unable to continue working, workers’ compensation also pays for vocational retraining.
Protection for Employers
While the benefits afforded to employees through workers’ compensation insurance are evident, this type of insurance also provides a significant amount of protection to employers, as well. When an injured employee accepts workers’ compensation benefits, he or she waives his or her right to sue. This has greatly reduced the types of lawsuits that could easily put companies out of business.
Controlling the cost of workers’ compensation insurance for employers isn’t simple. Premiums are calculated based on several factors, including a hazard rating by the National Council on Compensation Insurance (NCCI). But, cost control also involves experience mod factors which are tied to the effectiveness of the safety programs your business has in place.
The experienced insurance agents at DiVirgilio Insurance are well-versed in the intricacies of workers’ compensation coverage, and they’re here to ensure that the coverage you have is also the most affordable. Contact us today at 781-592-5220 to learn more about how our agency can save you money!