- Home
- Commercial Insurance
- Personal Insurance
- Policy Services
- Insurance Providers
- Get A Quote
- About Us
- Blog
- Contact Us
- Careers
All forms of Insurance: Business & Personal
Workers compensation insurance serves two main functions. First, it pays out money to employees who fall victim to a work related illness or injury. Second, it protects the employer from the high costs of paying out for employees who fall victim to the work related illness or injury.
Workers compensation insurance covers the medical treatment costs incurred by the employee as a result of the work related illness or injury. This allows all the appropriate medical treatment costs to be paid without the employee or the company having to cover the costs themselves.
It can also pay out on the partial replacement of lost income in circumstances where an employee is unable to work for a period longer than seven days. If the work related injury or illness was fatal then it pays out an amount to the surviving dependents. The exact amount will be stipulated by the policy.
This type of coverage will also cover vocational rehabilitation expenses. The goal is to get the injured or ill employee back to health and to gainful employment as soon as possible. This return to health and to work is in everyone's best interest.
You want to work with us because we at Colstan & Associates have been providing insurance plans for over 20 years. We know the insurance field and are dedicated to serving you. We know that businesses have hit hard times just like people, and we respond to the times.
We strive on looking for plans that give dividends, at times these plans are not offered but most likely we can find a policy that does offer dividends for their clients. With workers compensation insurance, if you do not have it and have employees, the states have strict fines and they are not $100. Some of the fines can be as low as $15,000 and up. So not having workers compensation and having employees it’s not a good thing. Contact us now for a free quote.
