Workers’ Compensation Insurance in El Paso, TX
Workplace injuries and illnesses may affect employees across a variety of industries. Licona Insurance Group offers workers’ compensation insurance for Texas businesses.
How This Coverage Benefits Your Business
Workers’ compensation insurance may provide the following advantages:
- Employer liability coverage: Workers’ compensation insurance may help cover a business against lawsuits related to workplace injuries, including third-party claims.
- Legal compliance: While Texas doesn’t require private businesses to carry workers’ compensation coverage, businesses bidding on government contracts may need it.
- Commitment to employee well-being: Carrying coverage may signal a business’s dedication to employee well-being and foster a more conscientious work culture.
- Financial coverage: This insurance may help cover employee injury costs, reducing out-of-pocket expenses and the financial impact of extended absences.
What Workers’ Compensation Insurance Covers
A standard policy may provide coverage for:
- Medical treatment and hospitalization costs related to work-related injuries or illnesses
- Prescription medications required during the recovery period
- Rehabilitation services, such as physical therapy, to help employees return to work
- Lost wages for time missed from work while recovering
- Disability benefits for employees experiencing temporary or permanent impairments
- Death benefits for an employee’s eligible dependents, where applicable
- Employer legal costs stemming from workplace-injury-related lawsuits
Factors That Determine Your Premium
The following can shape what a business pays for coverage:
- Job classifications: Rates can vary based on the risk level tied to each employee’s role.
- Industry and risk level: Higher-risk industries, such as construction or manufacturing, may pay more than lower-risk fields like office work.
- Claims history: Frequent or costly claims may raise premiums, while a clean record can help keep rates lower.
- Payroll size: Premiums are typically calculated based on payroll, so costs may grow alongside the workforce.
- State regulations: Requirements and rate structures vary by state, affecting overall pricing.
Get Started Today
Contact Licona Insurance Group to get a free personalized quote.