If you are opening a business for the first time, you need to get a lot of stuff in order for your business to run smoothly. One of the necessities every business owner should have is insurance. Nevertheless, if you have never had to purchase insurance for a company before, you may be unaware of which policies will be obligatory to have. One of the necessary insurance policies that every business owner should have is workers' compensation. This cover ensures that any costs stemming from work-related injuries are paid for by the insurance company rather than you having to contend with them out of pocket. Since work associated injuries could encompass a broad range of things, below is a concise list of common workers' compensation claims.
If your business entails the use of specialised tools, be it in construction or a commercial restaurant, it is imperative to have workers' compensation insurance. Injuries caused by equipment malfunction or mishandling are some of the most common claims filed. Furthermore, equipment related incidents can be quite egregious resulting in amputated limbs or even loss of life.
Slips and falls
Another common workers' compensation claim filed is injuries caused by slips and falls at the workplace. Slips and falls are not limited to any particular industry since they can happen anywhere. From wet floors to loose flooring tiles, anybody is at risk of a misstep that will lead them to take a tumble. While slips and falls may sound inconsequential, they can result in a host of injuries ranging from ankle sprains, broken bones or even concussions. As long as you have a brick and mortar office premises, it is best to have workers' compensation insurance for your employees.
It is not unusual or a good number of people to believe that workers' compensation claims are only valid if the injury was acquired on office premises. But this is not entirely correct. As long as the employee was harmed while they were carrying out their duties, you could still be liable for workers' compensation.
An excellent example of his scenario is an automotive accident. In the event that the employee was driving a business vehicle and they got into an accident, their employer is liable for their medical expenses and possible lost wages. On that note, workers' compensation is especially crucial for business owners in the transport industry such as truck driving.
For more information, contact a law office like Hoffmans Injury Lawyers.