If you are a business owner, one of the most important decisions you can make is to purchase workers’ compensation insurance. This type of coverage helps protect both your employees and your business in the event that an employee is injured on the job. But what exactly does this type of insurance cover, and when do you need it? Let’s take a closer look.

What Does Workers’ Compensation Cover?

Workers’ compensation is designed to provide benefits to employees who are injured while performing their duties. It covers any necessary medical costs associated with the injury, as well as lost wages if they are unable to work due to their injury. In addition, it provides death benefits for surviving family members if an employee dies as a result of their injuries.

When Do I Need Workers’ Compensation?

Each state has different laws regarding when employers are required to carry workers’ compensation insurance. Generally speaking, however, most states require employers to carry workers’ compensation insurance if they have three or more employees on payroll. Some states also mandate that businesses with fewer than three employees must carry coverage if they employ certain types of workers, such as hazardous materials handlers or construction workers. It’s important to check your state’s requirements before making a decision about whether or not you need coverage.

It’s also important to note that even if your state doesn’t require you to have coverage, it may still be wise for you to purchase a policy anyway. After all, it can help protect both your employees and your business from financial hardship in case of an accident or injury on the job—and that peace of mind can be invaluable for any business owner!

Workers’ compensation is an essential form of protection for both employers and their employees in the event of workplace accidents and injuries. Although each state has different laws regarding when employers must carry this type of insurance, it’s always wise to consider purchasing a policy even if it isn’t legally required—after all, being prepared can help keep everyone safe and secure no matter what happens! For more information about workers’ compensation insurance requirements in your area, contact RidgePoint Insurance Group today! We’re here to answer all of your questions and ensure that you get the coverage you need for peace of mind!