Navigating the world of insurance can be complex, and when it comes to protecting your business, having the wrong information can be costly. At ContracSur, our goal is to provide clarity so you can make informed decisions to properly protect your operations and your team. Let us answer a few common questions about this type of insurance coverage so you can be better prepared!
Addressing Common Misconceptions About Workers Comp
Addressing Common Misconceptions About Workers Comp
Myth 1: "I'm a solo operator, so I'm exempt."
While state laws vary, many general contractors and clients will contractually require you to carry coverage, even if you have no employees. This protects them from liability if you get hurt on their job. Furthermore, having a workers' compensation policy can protect your own personal assets by providing coverage for your own work-related injuries.
Myth 2: "It only covers major, sudden accidents."
Many believe coverage only applies to incidents like a fall from scaffolding. However, workers' compensation insurance also covers a wide range of issues, including illnesses from exposure to substances on-site and injuries developed over time, such as carpal tunnel syndrome or chronic back pain. It’s designed to cover the full scope of work-related health issues.
Myth 3: "My general liability policy is all I need."
This is a critical and costly misunderstanding. General liability insurance is designed to protect you from third-party claims, such as a client or member of the public being injured on your site. It explicitly does not cover injuries to your own employees or workers; that is the specific and exclusive purpose of workers' compensation.
Myth 4: "Office staff and remote workers aren't covered."
A work-related injury is a work-related injury, regardless of where it occurs. Whether it's an administrative assistant developing carpal tunnel in the main office or a project manager tripping over their home office equipment and breaking a wrist, they are still your employee. Your workers' compensation insurance policy is intended to cover them.
Don't let these common myths put your business at risk! Understanding the truth about your coverage is the best way to ensure you, your team, and your entire operation are protected. If you have questions about your specific needs, contact the specialists at ContracSur to get the right answers.