Workers Comp Insurance for Cabinet Makers
Lost Wages And Medical Care
Having workers compensation for your cabinet making business is a legal requirement to protect you from the costs associated with accidents that happen on work sites. If an employee is injured or becomes ill because of working for you, your business insurance will cover reasonable medical costs and lost wages.
Business Travel Protection
Maybe you send some of your cabinet makers out of state to work. If you do, you could be vulnerable if they have an accident while traveling. It is important to be sure that you have out of state coverage for your cabinet makers workers compensation. Not all policies contain it automatically. You may need to purchase this coverage as an option.
To protect you from law suits in the event of accidents, your workers compensation for your cabinet makers business includes employer’s liability coverage. This comes into play if a worker is harmed on the job and believes that they can prove you were at fault. The scenario is unlikely, as a worker need not prove liability to receive payments through your workers compensation. However, it is possible if your employee thinks they can get more from damages. The employer’s liability portion of your insurance helps you to pay the associated costs of a law suit against you or your business.
Employer’s Liability In Monopolistic States
As the owner of a cabinet makers business with workers compensation, you should know if you are working in a monopolistic state. This is a state in which you are required to purchase your coverage through a state fund and which may not include employer’s liability in a typical policy. If it does not, you will need to purchase additional coverage to protect yourself from lawsuits.
Although a suit brought about by an employee is unlikely, it is a possibility and if it happens represents serious costs. You could be facing fees for a defense attorney, the cost of an investigator to prove liability for the accident, court fees, and damages if the suit is successful. Because these costs could be devastating for your business, you should hold employer’s liability coverage in yoru cabinet makers workers compensation.
If your employee who was injured on the job aims to prove that a third party was liable, you could be facing a different type of lawsuit. Your worker, for instance, may have been injured by a tool they believed to be faulty. They may choose to sue the manufacturer of the tool for damages. The manufacturer, however, may claim that you and your business are liable because you did not maintain the tool as directed. In this event, your employer’s liability coverage through the workers compensation for your cabinet makers business will again cover your legal costs. This could include legal fees, investigative fees, court costs, and awarded damages.