Workers compensation: A system established under stat law that provides payments, without regard to fault, to employees injured in the course and scope of their employment.
Worker’s Compensation Insurance: Insurance against liability imposed on certain employers to pay benefits and furnish care to employees that are injured, killed, or are sick due to occupational hazards.
So what exactly is workers compensation well it’s a system established under state law that provides payments to employees injured in the course and scope of their employment. Workers Compensation Insurance protects the employer if an employee is injured on the job or becomes sick or ill due to occupational hazard so let’s take a look at Jimmy and Timmy two Californian small business owners Jimmy has a workers comp policy while. Timmy thought workers comp coverage was an unnecessary expense one day Timmy’s workers comp or Timmy’s worker was injured on the job and having no work comp policy in place Timmy had to pay out of pocket for medical expenses and lost wages this was financially crippling to Timmy and unfortunately had to shut down his business on the other hand Jimmy having the right workers coverage in place was properly covered with his policy Jimmy with the right coverage was able to keep his business running and avoid financial ruin this is the importance of having the right coverage as a small business owner in California.
Reach out to your agent to make sure you’re properly insured.