Depending on your location and the amount and type of employees you have, you may be required to get a workers compensation insurance quote for workers compensation insurance coverage. This coverage is designed to protect both you and your employees and is a vital part of any business insurance portfolio. Different than a commercial liability insurance policy, which is designed to protect your company in case a third party is injured, a workers compensation insurance policy is designed to pay for injuries sustained by your employees while on the job.

Before workers compensation insurance was around, injured employees would have to bring a lawsuit against their employees in order to be compensated for injuries occurring on the job. This was a time consuming, and often expensive process so the result was that many employees would be injured and never be properly compensated.

This all changed with workers comp insurance, which is a no-fault insurance policy. This means that regardless of the cause of the accident, workers compensation coverage pays. Also, if an employee seeks coverage under workers compensation, they forgo their right to pursue a tort lawsuit against their employer. Therefore an injured employee receives prompt medical attention and compensation for their injuries while an employer receives protection against legal action.

Workers compensation insurance is available from a business insurance company and is a vital coverage that most companies with employees are required to have. By getting workers comp business insurance online quote from multiple providers, you will find a commercial insurance policy that has the right coverage at the right premiums for you.

Often included in a workers compensation insurance package is employer liability insurance coverage that protects a business from an employee lawsuit claiming that workplace conditions or practices caused the injury. This insurance is mandatory in many locations, which is why it is often part of a workers compensation package that you get to complement your commercial insurance coverage.