Workers’ Compensation Insurance in USA 2022-23

Funeral and Death Services

Workers’ compensation can offer benefits to the family and beneficiaries of an employee who is injured or becomes ill at work. These benefits can be used to pay for funeral expenses or lost income. These expenses are usually limited to certain coverage plans, and the limits vary from one state to another. If they feel the expenses are excessive or unneeded, your insurance company may deny them.

Workers’ compensation benefits are usually paid to the immediate family members and dependents of your deceased employee.

Choose Best Workers’ Compensation Insurance in USA 2023

  • Parents with elderly parents
  • Children
  • Spouse

While some states prohibit children under 18 from receiving death benefits, there might be an exception for those with disabilities.

Lost Income

Workers’ compensation can replace lost income if your employee is unable to work due to an injury or illness at work. Your employee can lose their life and the income they earn can be transferred to their family. State regulations will determine the amount of their beneficiaries.

General Liability Insurance vs. Workers’ Comp Insurance

Workers’ compensation insurance does not include general liability insurance. General liability protects you against claims that your business has caused bodily injury to others or property damage. General liability, for example, can pay for medical expenses if a customer falls on your premises.

What do the two policies have in common?

Bodily injury is covered by both workers’ compensation and general liability policies. Most small businesses are required to have workers’ comp insurance. Although general liability is not required by law, it’s a good idea to have it. Your customers or employees may be liable for medical bills and could sue you. Workers’ comp and general liability are beneficial for all: employees, business owners, and third parties.

What is the Difference?

General liability and workers’ compensation offer different benefits and cover different types injuries. Your employees are covered by workers’ compensation if they become sick or hurt on the job. General liability covers third-party injuries and not your employees.

Both policies cover claims in different ways. Your employees can get workers’ compensation benefits to help with work-related injuries and illnesses. These benefits can help pay for their medical bills, and replace some of their income if they are unable to work. General liability insurance covers costs related to bodily injury or property damage claims against your business. You can also use it to pay for the settlement of claims.

  • Libel
  • Slander
  • Advertising injury
  • Trademark penalties

Pick the Right Workers’ Comp Insurance Policy for Your Business

You should be aware that every state has its own rules and regulations when purchasing workers’ compensation insurance. This can be complicated if your business crosses state lines. Therefore, it is crucial to find an insurance company who understands each state’s laws.

Updated: January 4, 2023 — 3:25 am

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