Workers’ Compensation Insurance in Aransas Pass, TX

Workplaces of all sizes and across all industries often include various risks and dangers. Accidents and mishaps may be inevitable even if you operate in a relatively low-risk sector and fully commit to workplace safety. This makes workers’ compensation insurance a critical priority for all employers, as lacking suitable coverage could leave your employees with complicated recoveries and your business facing expensive legal ramifications.

What Does Workers’ Compensation Insurance Cover?

Workers’ compensation insurance can establish a multifaceted, versatile financial shield for your organization and its staff. These policies act as contracts, retaining insureds with the ability to file a claim for financial assistance following on-the-job injuries and illnesses in exchange for policyholders’ premiums. Specifically, workers’ compensation claims can often assist with the following:

• Health care costs—If an employee requires medical attention following work-related injuries or illnesses, your insurance may help cover their bills.

• Wage replacement—Work-related injuries and illnesses can impact someone’s ability to perform their job. In such situations, your coverage could reimburse them for the income they would have earned.

• Disability benefits—Should an employee develop a temporary or permanent disability from a workplace incident, your insurance may help provide ongoing financial aid even for the rest of their life.

• Vocational rehabilitation—Employees may be unable to return to their previous jobs following on-the-job accidents. Fortunately, this aspect of your insurance may help to train them for other positions.

• Death benefits—In the event a workplace accident proves fatal, your policy may issue compensation to their loved ones.

• Employer legal expenses—Sometimes, employees may forgo workers’ compensation benefits and sue your business following an incident. Your policy’s employer liability coverage may assist with attorney fees, settlements, judgments and other resulting costs.

Do You Need Workers’ Compensation Insurance?

Although not all employers in Texas are legally required to carry workers’ compensation insurance, these policies are still a standard fixture of adequate business coverage. Firstly, lacking this type of coverage can limit your prospects, as specific entities, such as government bodies, may refuse to do business with you. Additionally, you’re constantly exposed to potentially devastating financial losses without workers’ compensation insurance. Even a single accident in the workplace could lead to devastating financial losses and reputational damage that might jeopardize your business’s ongoing viability.

How Are Rates Calculated?

Carriers may consider a multitude of factors when determining your workers’ compensation insurance rates, including the following:

• Industry

• Location

• Number of employees

• Total payroll

• Claims history

• Coverage limits

We’re Here to Help

Contact On the Coast Insurance Agency today to learn more about workers’ compensation coverage or compare personalized quotes.