Kentucky Workers Compensation Insurance
Serving Lexington, Louisville, Somerset, Bardstown, Nicholasville, Frankfort, Richmond & more
Insurance to Protect Your Employees
Policies for Kentucky, Ohio, Georgia, Tennessee, Indiana and Virginia Employers
Employees are the main drive behind every business. They are the face of your company and the ones your clients interact with day in and day out. Keeping your employees safe and happy is one of the most important jobs as a business owner. Although you may keep the workplace as clean and safe as possible, it is impossible to prevent all accidents. That is why businesses must carry workers compensation.
The experienced insurance professionals at First Insurance Group are dedicated to protecting businesses and employees alike with comprehensive and affordable business insurance, including workers compensation. We will help you evaluate your business’ risk and tailor a policy fit for your needs.
What Does Workers Compensation Insurance Cover?
Workers compensation insurance covers injuries sustained by an employee while they are working. It can help with costs such as:
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First aid
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Lost wages
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Paid time off
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Physical therapy
Workers compensation can also protect your business from a lawsuit regarding a workplace injury.
Medical Bills
Payment for medical bills are provided as the expenses arise. This can include emergency services such as first aid, an ambulance, medical equipment, emergency surgeries and more. It can also help with follow-up expenses, such as if the employee has to return to a doctor for checkups on the injury.
This compensation will only last as long as the medical bills are related to the work injury. Any expenses not related directly to the work injury will not be covered.
Wage Replacement
Another main part of workers compensation is wage replacement. This section of workers compensation will pay a portion of the employee’s wages while they are unable to work due to an injury. This is generally short-term, such as a few weeks, but some injuries may cause an employee to be unable to work for months or even not to work in that industry at all. In these cases, workers compensation can also offer compensation for vocational expenses for the employee to train in another industry.
Protect Your Employees Today
Don’t wait until an accident to find the right policy. Call First Insurance Group at (502) 348-5921 or fill out an online quote form to get started today.
Each state governs its workers’ compensation programs differently.
- Kentucky: All employers with one or more employees must carry this coverage.
- Ohio: If you have any employees, you have to offer workers’ compensation.
- Georgia: Any business with three or more workers, including part-time, must offer coverage.
- Tennessee: Employers with five or more employees, including part-time or family, must carry coverage. However, some businesses must carry coverage if they have only one employee. For example, coal mining or construction businesses must have coverage if they have one employee.
- Indiana: Most businesses with one or more employees must offer coverage. Sole proprietors do not have to receive coverage.
- Virginia: Businesses employing more than two individuals must carry this coverage. Employees include sub-contractors and officers.
So, each state will have a different process for filing a workers’ compensation claim. Exemptions, exceptions and unique rules might apply for every employer. Therefore, you’ll need workers’ compensation that caters specifically to your business. For more information, employers should contact their state workers’ compensation board.
Common Workers Compensation Insurance Questions
How Many Workers Compensation Claims are Filed Per Year?
Thousands of workers compensation claims are filed each year across industries. While most of these claims occur in jobs that require physical work, others occur in offices and other spaces due to fires, sprains, breaks and more.
How Much Does Workers Compensation Pay?
The amount a workers compensation claim will pay depends on the type of payment and severity of the injury. Medical bills are paid as they arise, whereas wage replacement is calculated based on a percentage of the employee’s original income.
How Much Does Workers Compensation Cost?
Workers compensation costs are based on the company’s payroll, so this price can vary. If your company’s payroll is $100,000 and the rate is $.35 for every $100 of payroll, you would pay $350 a year for workers compensation.
How Much Workers Compensation Coverage Do I Need?
Workers compensation limits depend on the industry and the number of employees. Carefully consider the risks your employees face. Industries that have higher rates of injuries or death should carry higher workers compensation limits. Employees that work with heavy or dangerous machinery face higher injury risks than those who do not.
We’re Here to Help
Need help getting workers’ comp coverage? What about finding risk management resources? At First Insurance Group, we’ve got you taken care of. We work with a variety of workers’ comp providers. We’ll compare available coverage options to help find one that meets your regulatory and cost needs.
So, if you’re ready to get started, so are we. Call us today at 800-511-2892, or request a free online policy quote right now.
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