Workers’ compensation insurance is a federally mandated, state regulated program that protects your business if an employee suffers a work-related injury. When your business is covered correctly, workers’ comp coverage will pay for employee’s medical bills, lost wages, rehabilitation, retraining, legal costs, and other expenses associated with the injury.
Workers’ compensation is required in most states, but not in all 50 states, and each state has its own regulations. With that said, the most important thing to remember is, even if coverage isn’t mandatory in your state, your business is still required to cover expenses related to the workplace injury. Medical costs and legal fees could quickly spiral out of control if you aren’t covered correctly. Additionally, if your state does require that you carry workers’ compensation insurance and you choose not to, you open yourself up to penalties, fines and stop work orders.
In the agriculture industry, workers’ compensation coverage is an important part of your overall insurance strategy. Numbers vary year to year, but in a recent study by the US Bureau of Labor Statistics, there were over 17,000 lost time accidents recorded in agriculture – those injuries where employees missed time from work. Workers’ comp will protect your operation from the potential costs associated with a work-related accident.
The best workers’ compensation programs for agriculture – like the one provided by ASA – will offer additional elements including, an agriculture focus, risk analysis and loss control, safety training, claims management services and more. Take the time, do your research, and find the right workers’ compensation partner. To learn more, contact Agri-Services Agency.
for more information.