Oregon Workers Compensation
Overexertion occurred when a warehouse employee was lifting heavy boxes. The injury happened when a muscle was pulled at the joint was forced beyond the typical range of motion. In this common factory job, physical labor is a necessity. However, the factory owner did not have to pay hundreds of dollars out of his pocket because he has proper Workmans Comp insurance in place when the incident occurred. The employee received the medical treatment that he needed and even receive compensation for the time he had to take off work.
In another incident, an employee slipped and fell on a wet floor at the workplace. In this case, the fall was caused by a snowy walkway. The groundskeeper fell victim as he was walking around the building's perimeter. The employee suffered a broken ankle in the fall and was not able to return to his job for a few weeks. However, all of his medical expenses and lost wages were paid by the employer's insurance.
These are only a couple of examples of things how things can go wrong in the workplace. Workers Comp is a type of insurance coverage that is designed specifically to aid employees with recovery from the injuries that they sustain while on the job. The state of Oregon has specific laws that pertain to Workers Compensation Insurance programs.
The benefits that Workmans Comp provides to employees often includes rehabilitation services, lost wages, medical expenses as well as death benefits. In most cases, if you only have a single employee and the employee is only temporary, you will still be required to carry proper insurance.
No one heads to work in the morning expecting to be injured while they are at work. As a matter of fact, many employers in the work force today dedicate a sizable part of their budget to the education of their employees on safe practices in the workplace as well as updating their facilities in order to meet safety codes.
Unfortunately, workplace accidents do happen. The best way to be prepared when they do is to have a quality workers compensation policy in place. Otherwise, you could find yourself paying a considerable amount of money out of your own pocket.
The Right Workers Comp For You
It does not matter if you have three employees or three thousand employees, your daily business processes can be interrupted by a single injury. When you become the owner of our own business, one of your primary concerns is to make certain that your employees have as much protection as possible from on-the-job injuries. It is also your responsibility to meet the requirements in Oregon. Having the right workers comp policy in place allows you to rest assured that when the inevitable happens, you will be able to continue running your business as usual.
Workers Compensation was developed about a century ago to protect members of the workforce from expensive medical bills that stem from illness or injury due to the work that they do. In addition, the company will also be protected from legal action. If one of your employees is hurt while on the job, your insurance will pay the medical costs that arise.
As with any other type of business insurance, insurance rates will depend on the unique characteristics of your company. However, typically a small business that only has a few employees will pay just a few thousand dollars per year. For a company that has twenty or so employees the cost will rise closer to a five-digit figure. The state of Oregon has specific classification systems and rate structures that determine the cost of insurance.
Some other factors are also taken into account in order to determine the cost of Workmans Comp rates, such as the amount that the employee is paid for doing their job as well as any occupational hazards that may be present. If the job is especially dangerous, then the cost of the insurance policy is usually going to be higher. There may be some discounts available for companies that have a specific program for workplace safety, provide a drug free work environment and pay a higher deductible on their policy.
Your Trusted Insurance Advisors
Ferranti-Graybeal Insurance Agency Inc.has more than forty years of experience and is one of the largest providers of Workers Comp in this area. The experience staff of talented agents can help you remove experience mods, develop safety programs to help reduce risk and provide you with an affordable premiums going forward.
You have a lot more important things to worry about than determining how to pay for injuries that an employee receives on the job. Click on the quote request button now or call for your risk free quote, so you can rest easy and focus on the tasks that will help your business grow and thrive.