Workers’ Compensation Insurance in Irving, TX

Workplace accidents are an unfortunate inevitability for most businesses. Regardless of your commitment to safety or the industry in which you operate, you’re likely to eventually need to respond to employees’ on-the-job injuries or illnesses. Fortunately, by understanding, acquiring and maintaining the right workers’ compensation insurance, you can position yourself to manage these potentially difficult situations with minimal consequences.

Why Is Workers’ Compensation Insurance Important?

Workers’ compensation insurance is among the most common and essential types of coverage for businesses throughout the United States. In most states, these policies are legally required. Even in Texas, where laws may be somewhat more lenient, many companies, such as those working on government contracts, are mandated to carry coverage.

Even in the absence of such obligations, workers’ compensation insurance is essential, as failing to have a suitable policy could leave your employees with little means to recover from workplace ailments. Such situations could lead to significant financial losses and reputational harm, as well as costly lawsuits.

What Does My Policy Cover?

Securing appropriate workers’ compensation insurance can make all the difference in the aftermath of workplace accidents. Whether employees suffer broken bones, lacerations, burns or other injuries, your policy may help pay for the following losses and expenses:

• Medical bills

• Wage replacement

• Disability benefits

• Vocational rehabilitation

• Death benefits

In addition to the aforementioned costs potentially incurred by employees, your insurance typically includes employers’ liability coverage. This component of your policy can help pay for attorney fees, settlements, judgments and other legal costs should affected workers choose to sue your business following an incident.

How Are Rates Calculated?

Insurance carriers must carefully weigh various factors when quoting you a rate for workers’ compensation insurance. This process may consider the following:

• Industry

• Location

• Total payroll

• Prior claims history

• Coverage limits

We’re Here to Help

Contact Quality Insurance Services today to learn about workers’ compensation coverage or compare personalized quotes.