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Do I need Workers’ Compensation Insurance?

By July 8, 2022May 2nd, 2023No Comments

One of the most important aspects of your business is your staff. It is essential to your business to protect your employees from any potential danger, and you from any potential liability. Workers’ compensation insurance is designed to protect both employers and employees.

Workers’ compensation benefits are available to injured workers in the state of Massachusetts that covers medical costs related to worker’s injuries or financial assistance if an employee is unable to work, due to an accident on the job. Under the Massachusetts workers’ compensation laws, the amount of money and assistance will vary based on the scope and severity of the injury. Workers’ comp insurance covers medical expenses and lost wages for injured workers, and pays for employer legal defense fees in the event of a lawsuit.  If you have any questions, contact our office at 413.475.7283 or Complete our online quote form today!

All employers in the state are required to carry workers’ compensation insurance for their employees, whether they work full- or part-time, and for themselves. If a limited liability company (LLC), limited liability partnership (LLP), unincorporated business, or sole proprietorship doesn’t have employees, the business purchasing a workers’ compensation policy might be optional.

Massachusetts has some of the lowest workers’ compensation rates. So how much does workers’ compensation cost? The policy premium is determined by multiple factors, including:

  1. The industry the business is in.
  2. Total employee payroll.
  3. Past history of claims the business has filed.

In addition to being required in Massachusetts, there is no arguing that a workers’ compensation insurance policy is great to have for you, your business, and your employees. Make sure your small business is in compliance with all MA business laws and statutes. This insurance coverage can ensure that employers will pay specific benefits in the event that a worker is killed, made ill or injured during their employment. A basic workman’s comp policy can provide your employees with the following:

  • Vocational Rehabilitation
  • Medical Expenses
  • Lost Income/Wages
  • Rehabilitation Costs
  • Death Benefits

It is important to know that workers comp operates under a “no-fault” system. One of the biggest advantages for employees with this coverage is that they will not have to prove someone was at-fault to receive the coverage. There are exceptions to how the employee attained their injury, however, which include horseplay or intoxication on the job. Beyond that in order to receive the coverage, the employee simply has to prove that he or she was doing his or her job at the time of the accident.

At Encharter Insurance, we understand how imperative it is that things run as smoothly as possible. Having workers comp insurance can protect you and your company from costly lawsuits that could arise with an employee being injured, made ill, or killed on the job. It can also help to alleviate issues with the government and your employees. The commercial lines agents at Encharter are here to help put together the right workers comp policy for your needs in MA. Call Encharter Insurance today at (888) 754.8299 or use our online form and contact us to receive your workers compensation policy quote.

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