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Worker's Compensation Insurance

Safeguard your team and achieve peace of mind with Worker's Compensation Insurance. At K&R Insurance, our goal is to help you find the right coverage, ensuring that both your business and your valued employees are protected from unexpected workplace incidents.

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What is Workers' Compensation Insurance?

Workers' Compensation Insurance, often called workers' comp, is a type of insurance that provides financial and medical benefits to employees who are injured or become ill as a result of their job. This insurance covers a range of incidents, including workplace accidents, occupational diseases, and injuries sustained while performing job-related duties.

What does Workers' Compensation Insurance cover?

 

Workers' Compensation Insurance addresses various aspects of workplace injuries and illnesses, including:

  1. Medical Expenses: Covers the costs of medical treatment, from emergency care to ongoing rehabilitation.

  2. Lost Income: Compensates employees for wages lost while they are unable to work due to their injury or illness.

  3. Rehabilitation Services: Provides for physical therapy or retraining needed for an employee to return to work.

  4. Death Benefits: In the unfortunate case of a workplace-related fatality, benefits are given to the dependents of the deceased.

  5. Legal Expenses: Covers legal costs if an employer faces a lawsuit related to a work-related injury or illness, although compliance with workers' compensation laws typically protects employers from such legal actions.

How much does Workers' Compensation Insurance cost?

 

The pricing for Workers’ Compensation Insurance can vary based on:

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  • Business type: High-risk industries, like construction, might incur higher premiums compared to office-based professions.

  • Location: Rates can differ based on state laws and regulations.

  • Claim history: Businesses with a record of numerous past claims might be subject to higher premiums.

  • Safety practices: A robust safety program and training can potentially lower insurance costs.

  • Number of employees: More employees often mean higher coverage costs, but bulk rates and discounts might also apply.

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