Are you a freelance worker that’s unsure of how you’ll protect yourself in an emergency? Do you wonder how you can get compensated for an injury if you don’t have an employer that offers it?
If so, then you need to consider workers’ comp insurance for yourself. That way, you’ll have a way of protecting you and your family’s finances in the event of an injury. Even if you don’t have employees, you’ll need security for yourself.
See below for an in-depth guide on workers’ comp insurance and the signs of whether you need it or not. Be sure to consider them all in your decision.
What Is Workers’ Comp Insurance?
In a normal setting, workers’ comp insurance is a section of business insurance that’s meant to protect workers and employers during a workplace injury.
The worker will need compensation to cover medical expenses, rehabilitation, counseling, or any other service they need to recover from the injuries or illnesses they sustained on the job.
Employers are legally inclined to offer workers’ comp insurance for any sized staff. If the staff exceeds one person, they have to provide workers’ comp.
However, if you’re a freelancer, then you’ll want coverage of your own. That way, your future is protected if you injure yourself on the job.
In fact, some many clients and companies will want you to have workers’ comp for yourself before they hire you. They require it for any freelancers they hire so that they aren’t liable for any injuries that occur, but also to protect you.
Because of that, the name of the game is finding an affordable policy. One that you hopefully never have to use, but is always there in a time of emergency.
Do You Need Workers’ Compensation Insurance for Yourself?
You always think it’ll never happen to you. You expect a safe day to day because of how much you focus on performing your job the right way. However, accidents are always a potential risk.
Imagine the horror of going through your workday when all of a sudden you experience an injury. Maybe you slipped on a wet floor and hit your heat. Perhaps something heavy fell on your leg.
Whatever the case, you need to seek out emergency medical attention. Otherwise, the injury could worsen and have life-long consequences.
In those moments, you want peace of mind that the finances will be taken care of. It will allow you to receive all the medical attention you need in order to get yourself back to where you were.
If you don’t have workers’ comp in that situation, you’ll either try to shrug off the injury and work through the pain (causing it to worsen) or cut corners on the treatment that you receive.
What Are the Benefits of Workers’ Comp?
While reading through this article, you’ve undoubtedly seen some of the benefits of workers’ comp already. However, they bear repeating to drive the point home that you need to invest in it for yourself.
See below for some of the major benefits. Make sure to consider these before you make your decision.
- Pays for Lost Wages
Sure, there are some of you out there that have an emergency fund that’s extensive enough to cover medical expenses during an emergency. But do you have enough saved to pay for lost wages?
Medical bills aren’t the only consequence of suffering a severe workplace injury. You will also miss out on getting paid for projects while you’re unable to work.
Workers’ compensation takes all of that into account. You can receive compensation for both the medical expenses you’ve piled up and the wages you’ve lost while in recovery.
- Covers Worsening Conditions and Illnesses
What if your asthma starts acting up from a project that you’re working on? What if you become sick from the constant exposure to chemicals on a job site? You’ll be unable to work and will need to receive immediate care.
Workers’ comp insurance covers any illness or worsening condition that’s directly affected to the job you were performing. That way, you can cover the cost of the treatment to get yourself back in fighting shape.
Without it, you’ll be sitting out of freelance projects while trying to recover from your illness. All the while, you’re losing out on money and paying for costly treatment.
- Coverage for Your Family’s Future
It’s understandable that an employer might be hesitant to offer workers’ comp for their employees (even though they’re legally required to).
But in this case, you’re able to control the safety of your future by investing in cheap workers’ comp insurance. No more fear of the unknown. No more staying up at night wondering how you’ll pay for your mortgage and medical bills during an emergency.
Workers comp ensures the safety of your tomorrow. You can take the time and the investment to get yourself right before returning to work. No need to hustle back in order to make a salary. That’s covered by workers’ comp.
Invest in Workers’ Comp Insurance for Yourself Today
Now that you have seen all the information on why you need to invest in workers’ comp insurance for yourself, it’s time to start that process.
Be sure to find a workers’ comp insurance provider that you enjoy working with. In your hour of need, you’ll want to have confidence and trust in the company you’re working with.
Also, make sure to browse our website for more articles on workers’ compensation, as well as many other helpful topics that you’ll enjoy.