Three things you might not know about workers comp insurance

Business owners must be adequately informed about their workers’ comp insurance needs. Those who run a business in Coppell, TX can purchase workers comp insurance from The Select Insurance Agency. 

The following are three things that business owners might not be aware of regarding workers comp insurance. 

Workers comp insurance is required for many companies.

Many companies have to invest in workers comp insurance to protect their employees. Workers comp insurance is one of the most commonly required and basic types of insurance that many companies carry. 

The exact responsibilities of a company regarding workers comp insurance depend on state laws where a company operates. 

Workers comp benefits are typically not taxed.

One of many advantages workers enjoy when they are compensated for a work injury by workers comp insurance is untaxed benefits. In most cases, workers’ comp insurance payments are exempt from taxes. However, there are some exceptions. For example, social security disability benefits may be taxed. 

Workers comp coverage can provide coverage for numerous types of injury. 

Workers comp insurance is a comprehensive benefit for workers who experience injuries. This type of coverage can compensate employees who experience various types of injury.

Some of the many on-the-job injuries for which workers comp benefits include slip-and-fall, overexertion, and repetitive motion injuries. 

If you’re on the market for workers comp insurance in Coppell, TX, we can assist you with meeting your insurance needs at The Select Insurance Agency. Contact us today to ask questions or get quotes on a workers comp insurance policy.