What is Workers Compensation ?

Worker's Compensation is a program compensating injured workers: a form of insurance required from employers that provides money as compensation for workers who are injured at work or contract an occupational disease. Worker's Compensation is a pretty straightforward type of coverage. It provides payment for all work-related injury medical bills, rehabilitation, and provides a certain amount of income after a waiting period (usually 7 days). It provides a death benefit, as well. Workers Compensation premiums are based on the payroll earned by employees during the policy period which usually is for one year. Rates are determined on the type of work performed. Your insurance agent can explain this coverage as it relates to the laws in your particular state.