Business owners in Quinlan, TX are not required to have workers compensation insurance, but it’s a protection against financial loss that many entrepreneurs choose to invest in. Your Slaughter Insurance Agency representative can give you the full scope of what is covered.
What Does Workers Compensation Insurance Do?
Texas law has set forth limits on what workers can receive when their employer purchases workers compensation insurance. A company owner who decides to be a non-subscriber can be subject to lawsuits to compensate for injuries to employees incurred while on the job. These have virtually no cap and can include attorneys’ fees. Common legal defenses in personal injury lawsuits are not admissible in cases involving employers.
You are required to place a poster notifying new hires of coverage or noncoverage at the place of employment, and employees have five days to waive their rights to opt-in to this provision or not.
Those who agree to be under workers compensation will be provided with the medical and income benefits that are due to them under the law but will lose their right to sue. Workers must be notified of this tradeoff via a government form once they have made their decision.
Under workers compensation, employees are to be covered regardless of fault when they are hurt while carrying out duties that further an employer’s interests, and this can include travel. Perils that null and void this agreement include horseplay, intentional self-harm, or being under the influence of controlled substances or alcohol.
Death benefits may also be applicable and paid to families of someone who dies in an accident while on the job, and this operates according to limits set by law.
Slaughter Insurance Agency Serves Business Owners
We provide quality insurance products for those in the Quinlan, TX area, and we can put together a package for you. We invite you to reach out to us today.