Workers Compensation

Workers Compensation

San Marcos, TX Workers Compensation Insurance

Texas workers comp quotes are not the first thing business owners ask for, simply because it’s a type of employers liability insurance that is not required in our state. But we take our role as insurance advisors very seriously at Benchmark Insurance Group, and we routinely educate business owners of the additional risks they are assuming by not securing workers compensation insurance.

While it is true that workers compensation is not required in Texas, did you know you must sign an official waiver if you decide not to obtain the coverage, acknowledging that you willingly are assuming the risk should an employee become injured or ill on the job? Signing the waiver means that you lose your tort immunities, which translates into fewer protections for you as the employer in the event of what would typically be a workers comp claim.

Let’s say you have signed the waiver and not secured workers compensation insurance. If an employee cuts his fingers with a saw at work, you cannot use an assumption of risk defense should the case become a legal matter. Furthermore, if an employee is somehow responsible for the injury to another employee – let’s say he left that saw in a dangerous position resulting in the cut fingers – you would not be able to use negligence of a fellow employee in your defense. In effect, you assume even more risk without this critical liability coverage.

How Workers Compensation Benefits the Employer

Workers compensation insurance is a vital form of protection for you and your employees. It can help you protect your operation from the financial risks associated with on-the-job injuries, paying medical expenses and covering lost wages. You would not be responsible for those expenses out of pocket. It shows employees you care for their safety.  And, in exchange for the insurance protection, you are protected against lawsuits related to injuries or work-related illness.

Many factors are considered by insurance companies when determining the premiums an employer will pay for their workers compensation policy. Safety procedures, claims history, type of small business, deductibles and class of workers are weighed in the balance. As an independent agency, Benchmark Insurance Group represents many insurance companies, which means we will shop on your behalf for the most competitive workers compensation rates based specifically on the factors tied to your business.

There are many ways employers need to manage risk, and they rely on Benchmark Insurance Group to consult and advise them on the types of business insurance that are right for them. You can count on our Texas agency for workers comp quotes and more.

Contact Benchmark for Texas Workers Comp Quotes

Our Central Texas agency helps businesses from Austin to San Antonio solve their insurance needs. We are dedicated to helping your business succeed. Contact our San Marcos insurance agency to speak with an experienced account executive.