If you are searching for League City TX Occupational Accident Insurance, give Texas Insurance Agency a call today! We have a team of experienced insurance brokers who will help you find the right policy to protect your business. Moreover, our agency only works with the best of the best in the insurance agency. As a result, you can have peace of mind knowing your agent will come through when difficult situations come up.

Texas Insurance Agency has been serving the Greater Houston community since 1999. In that time, we have helped thousands of business owners find the right insurance company to represent their needs. In addition, our sole mission is to provide you with reliable insurance options. This means finding a policy that will help your business stay afloat and offer financial assistance when the unexpected happens.

If you find yourself looking for a policy that covers your liability in the instance of a worker accident, consider an occupational accident policy. There are many reasons this could be the right option for you.

However, there are also risks associated with choosing this policy over a comprehensive worker’s comp. package. Continue reading to find out more.

Protect your liability in the event of an accident with League City TX Occupational Accident Insurance!

What is Occupational Accident Coverage?

Occupational accident insurance can provide certain financial benefits to employees that are injured on the job. This type of policy is typically customized based on what the business owner wants. For instance, if the business presents a relatively low-risk work environment, you might choose a plan that offers coverage of medical expenses, but no disability or death benefits.

However, if yours is a high-risk environment, like a construction company, then you will likely want to add permanent or temporary disability benefits. While a comprehensive worker’s compensation package is more ideal for this situation, it may be less affordable than an occupational accident policy.

With an occupational accident policy, the company is responsible for proving whether or not a worker’s injuries or death was the result of negligence on the company’s part. Additionally, this type of policy does not include any legal fees. So, if a worker is not satisfied with the compensation amount, they can still legally file a lawsuit against your company.

It is within your rights to choose how you want to personalize your occupational accident insurance policy. However, keep in mind that even if your policy does not include things like disability or death benefits, you could still be financially responsible for providing those benefits out of pocket.

Occupational accident insurance definitely carries a lower price tag, but don’t be fooled by this. Take the time to carefully consider whether or not your company will truly benefit from the lower deductibles and premiums. Overall, this type of insurance policy is better for low-risk businesses that involve little to no chance of accidents that result in injury, death, or disability.

Worker’s Comp. is Different Because…

Worker’s compensation insurance is much more comprehensive than an occupational accident policy. For the most part, this is because a worker’s compensation policy typically includes more benefits for employees. Some states require businesses to purchase the state-offered worker’s compensation package.

However, Texas is one of the states that has an exclusion from this. So, it is your right as a business owner to choose a worker’s compensation policy or an occupational accident policy. By far, worker’s compensation is the most comprehensive, with financial responsibility falling on the business when an occupational accident policy is chosen instead.

Unlike an occupational accident insurance policy, worker’s compensation places the ‘burden of proof’ on the injured party to prove that their injuries are the fault of the company. Additionally, when you maintain a worker’s compensation policy, your company cannot be liable for pain and suffering. This is likely because worker’s comp provides more benefits, leaving your employee with little to no financial responsibility or loss as a result of their injury.

Keep your business and employees protected with the right coverage policies.

Things to Know

What Does Occupation Accident Insurance Cover?

Occupational accident insurance is custom-made to fit your needs. So, if you own a small business that offers a low-risk work environment you might choose to have medical expense coverage, with no death or disability coverage. What your policy covers, depends completely on you.

Keep in mind that it is a great idea to speak with an expert in the occupational accident and worker’s compensation industry. They will be able to offer you advice on which policy fits your needs. The point is to minimize financial risk to your company.

Risks of Choosing Occupational Accident Coverage Over Worker’s Compensation

While occupational accident coverage could seem like the better, and more affordable, option it is best to contact your knowledgeable insurance agent and ask them to help you find the right policy. They can also help you determine if your business will benefit more from occupational accident coverage or worker’s compensation insurance.

Occupational accident policies are fully customizable to what you want them to contain. From benefits to deductibles per accident, you get to choose what coverage the policy has. Even if your company offers a low-risk environment where few accidents happen, don’t let yourself be surprised by the unexpected.

Insurance transfers the financial risk from your company to the insurance company when employees suffer injury. However, when you choose occupational accident insurance, you keep most of that risk.

Occupational Accident Statistics

According to the International Labor Organization, just over two million individuals die every year from work-related accidents or injuries. In addition, nearly half a million employees suffer from work-related injuries that leave them temporarily or permanently disabled.