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Written by Adam Miller
Why Texas Businesses Should Never Skip Workers Compensation Coverage

Workers Compensation Insurance is a cornerstone of many commercial insurance policies, but in the state of Texas, it is only recommended, and not required by state law. To their detriment, some businesses skip having Workers Compensation coverage with the belief that it's unnecessary because they have little to no workplace accidents. The reality is that insurance protects against the issues, accidents, and damages we can't ever plan for, and having Workers Compensation coverage is a smart business decision, regardless of the industry or size of the company. In today's blog post, we look at three reasons why businesses in Texas should never skip having Workers Compensation coverage.

Protects The Business

One of the most important reasons to have Workers Compensation coverage is that it offers important financial protection for the business in the event of an onsite accident or injury. No workplace is 100% safe, and a single incident or injury could leave the company liable for an injured employee's medical expenses, lost wages, and punitive damages if there is not Workers Compensation coverage to help protect the business. Because Workers Compensation is No Fault coverage, the policy will pay injury or accident related expenses regardless of whether the employee or employer was at fault. Without Workers Compensation coverage, a business could be seriously impacted or even forced to close because of damages awarded from a personal injury lawsuit filed by an injured worker.

Protects The Employee

Businesses considering skipping Workers Compensation coverage should also take into consideration the positive benefit this insurance provides to employees, and how it can help companies retain valuable employees for longer. Employees of a company with Workers Compensation coverage have greater peace of mind that they and their loved ones will be assisted financially in the event of a workplace accident, as Workers Compensation provides medical benefits, income benefits, and death benefits. Without it, employees have no way to receive any kind of financial assistance after a workplace accident unless they file a lawsuit against their employer, which can take a great deal of both time and money.

No Industry Is Immune From Workplace Accidents

The reality of Workers Compensation is that nearly all businesses need the coverage, regardless of their size, industry, or service provided. For example, it might seem as though a sales representative would not encounter much danger while on the job, but the sales rep could be involved in a car accident while traveling to a client. Without the protection of Workers Compensation coverage, the company could be held completely liable for all medical expenses and costs related to the accident. Workers Compensation Insurance is a valuable and essential policy to have, whether it's for retail, restaurant, contractors, farms or ranches, or any other kind of business or industry.

If your business lacks the protection that comes from having Workers Compensation insurance, contact the commercial insurance experts at Aegis Insurance & Financial Services today. Aegis is committed to providing Texas businesses with exceptional Commercial Insurance solutions to meet their unique business and industry needs, all at competitive rates. Call Aegis at 713-850-7622 for more information from our friendly and knowledgeable team, or go online to request a free quote!

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