An older form of insurance, workers compensation is designed to protect employees by providing employees with proper medical treatment, financial compensation, and other benefits in the case of a workplace injury or illness. Workers compensation is treated as a no-fault system. Because of this, employees are not able to sue the employee for the damages suffered from the accidental injury or illness. Chrysalis Insurance Agency has workers compensation insurance available for companies throughout the entire state of Michigan, including, but not limited to, Detroit, Grand Rapids, Warren, Sterling Heights, Ann Arbor, Lansing, Flint, Dearborn and Livonia.
What is Workers Compensation Insurance?
Typically, workers compensation insurance will cover the following:
- Vocational Rehabilitation
- Death Benefits
- Lost Income
- Permanent Injury Compensation
- Medical Care due to the work-related injury or illness
Regulations for workers compensation insurance varies from state to state, meaning requirements, premiums and coverage will also vary. Chrysalis Insurance Agency has a complete understanding of Michigan’s workers compensation requirements, and our experienced agents work diligently to understand your business its individual needs, presenting you with the best workers compensation solution.
Why Do I Need Workers Compensation Insurance?
Michigan employers are required to have workers’ compensation for employees. Michigan is a “no fault” system, where employees are entitled to benefits for industrial injuries, regardless of who caused the job-related accident. They are entitled to medical benefits and can even receive temporary compensation, should they meet eligibility requirements. There are very few instances where employees are exempt from workers’ compensation in Michigan. If you have at least one full-time or part-time worker, you are required to carry workers compensation insurance. Workers comp is not always required for independent contractor, or “casual laborers”. Sole proprietors without employees are not required to have workers compensation insurance, although you can elect to purchase it for yourself. If a Limited Liability Company (LLC) has one or more employees, you do need to have workers comp insurance.
Companies cannot require or request employees to elect not to be covered by workers compensation insurance, but employees can voluntarily elect not to be covered. To do so, the employee will need to submit a written notice to the employer. Independent contractors do not need to be covered by workers compensation, but there is a fine line between employee and independent contractor- for more information on whether your worker is an employee or independent contractor, contact your Chrysalis Insurance Agency agent.
Thoroughly understanding your company’s workers compensation policy and obligations as an employer is essential for running a successful business. Incidents that happen at the workplace have a large impact on both you and your employees’ lives. Chrysalis Insurance Agency not only offers affordably priced workers compensation insurance policies, we take the time to educate you and your business on that policy and your obligations.
Fully evaluating business and loss history prior to receiving a quote can take time. As a result, while we do work promptly to provide you with your quote, we recommend reviewing your current workers compensation plan at least a few month before its expiration. This gives proper time for us to fully review your existing coverage, and evaluate the needs you’ll have in the future.
Get a Free Workers Compensation Insurance Quote
Not only does Chrysalis Insurance Agency offer workers compensation to companies throughout the entire state of Michigan, including, but not limited to, Detroit, Grand Rapids, Warren, Sterling Heights, Ann Arbor, Lansing, Flint, Dearborn and Livonia, we have other important business insurance options. If you would like more information about workers compensation insurance, or for a free quote and evaluation, call us toll free at (855) 407-0010, or fill out the form below!