If you are a business owner, you know there are many insurance policies you need to have enough protection. One of the most important is workers’ compensation insurance. The question is, do you need it if you already have commercial insurance? Brent Davis Insurance in Allen, TX can help you decide which policy is right for your business.
Here are the differences between workers’ compensation and commercial insurance:
What Is Commercial Insurance?
Commercial insurance covers businesses for claims arising from their operations. It can protect your business from claims of negligence, property damage, personal injury, and more. Commercial insurance policies are tailored to the specific needs of the business.
What Is Workers’ Compensation Insurance?
Workers’ compensation insurance covers businesses for claims arising from injuries to their employees. It can cover medical expenses, lost wages, and death benefits. Workers’ compensation insurance is typically required by law in most jurisdictions.
Can Commercial Insurance Cover Employee Injuries?
Yes, commercial insurance can cover employee injuries. However, it’s important to note that workers’ comp typically provides more comprehensive coverage. For example, it may cover medical expenses not covered by commercial insurance.
Things like prosthetic devices and rehabilitation. Additionally, workers’ compensation insurance may provide death benefits to the family of a deceased employee. Commercial insurance typically does not.
So, Which Policy Do I Need?
Workers’ comp is not mandatory in Allen TX. However, Brent Davis Insurance always recommends that clients err on the side of caution and purchase a policy. Commercial insurance is also crucial in that it offers protection against a variety of different risks.
That said, it’ll not be enough on its own to protect your business in the event of an employee injury. The best way to ensure your business is fully protected is to purchase both policies.
Give Us A Call
As a business owner, it’s crucial to have the right insurance coverage in place. Workers’ compensation insurance and commercial insurance are both essential policies that can protect your business from different risks. Brent Davis Insurance in Allen, TX can help you determine which policy is right for your business. Contact us today to learn more.