Workers comp insurance protects both employees and employers. However, since many business owners and workers don't fully understand the subject, it may seem like a useless policy. Learn more about this type of insurance below, including why it's so important, to guard your business against accidents and lawsuits.

Common Questions About Workers Comp Insurance

What events does workers compensation cover?

Workers comp pays for medical care when there are workplace injuries and illnesses. It doesn't matter if the employee was on the employer's property, as long as the illness or injury took place during activities performed as part of the employee's job. Common workplace illnesses include hearing loss, black lung, asbestosis, cancer, and repetitive motion injuries, such as carpal tunnel syndrome.

What does it pay for?

In addition to payment for immediate medical treatments, workers comp insurance also covers the cost of ongoing care and lost wages. If the employee dies as a result of their injuries, it also pays for funeral expenses.

Is it required in North Carolina?

North Carolina law requires all businesses that employ three or more workers—with a few exceptions—to purchase workers compensation coverage. Employers can't evade this requirement by calling workers "independent contractors," and general contractors may also be liable for injuries to employees of uninsured subcontractors.

How does it benefit employers?

Not only does coverage extend to owners and managers injured on the job, but workers comp insurance also reduces the likelihood of the employer being sued. To receive free medical care, employees must agree not to seek additional compensation from the employer for their injuries or illness.

To have an insurance agent help you design a workers comp insurance plan for your company, visit North Carolina Farm Bureau Insurance® Group in Matthews. They’ve served Mecklenburg County since 1953 and have a strong relationship with the community. They also specialize in home, life, health, and auto insurance, so they’re a one-stop solution for coverage. Visit their website to learn more about their products, or call (704) 841-8700 to request a quote.