Many business owners find themselves asking “I have insurance, but do I workers’ compensation coverage?” Our answer? It depends. There are a few factors you’ll want to consider when deciding on or against this kind of coverage. First, you’ll want to really understand what this type of insurance covers. Worker’s compensation is designed to assist when an employee sustains an injury while working or gets a work-related illness. This coverage can include wage benefits, payment for medical treatment or rehabilitation, and death benefits.
Workers’ compensation insurance requirements are decided by state law, and can vary from state to state. Some states require coverage no matter the number of employees you have. Your state’s government website should have more information on specific requirements. As you increase your number of workers, you also increase the likelihood of an accident and therefore your risk for liability. If your industry has a greater potential for injury or illness, it’s important to identify what coverage may be critical to your business. Our highly experienced adjusters can even help you to manage your coverage requirements across multiple states! Whether your operate in one state or all 50, they can assist with injury management strategies that stay in compliance!
Safety & Claims
Farmers Insurance can help your business improve it’s safety practices by assisting with issues like OSHA compliance and safety training. Developing safety training programs can also help your business save on your premiums. We offer a discount to businesses that belong to safety group associations, who can also help enhance your on-the-job safety training!
When it comes to claims, we don’t out source. We know that it’s important to get back to business while also ensuring your employee is in good health. In-house Farmers claims teams will efficiently manage employee injuries from start to finish. Adjusters will communicate with your employee’s physician and work supervisor to ensure your employee’s duties are correctly modified according to their physical limitations. They will also review all medical bills with healthcare industry experts to ensure no fraud is present that could impact workers’ compensation costs.
Premiums & Audits
Our Farmers RealTime Billing links your premium directly to your payroll! As your payroll fluctuates your premium will automatically adjust, so you’ll have less audit adjustments to make later! Click here to learn more about premium audits and how to prepare for one.