Workplace illness and injuries happen. When it happens to you, you may have questions about your options and responsibilities. As a c construction accident lawyer in Newark from a firm like Rispoli & Borneo P.C. can explain, it is essential to know what your options are to handle suddenly not being able to work. Do you need disability coverage? How about accident coverage? Do you already have workers’ comp insurance?
Disability Insurance
Private disability insurance is a way of helping to cover lost wages if you cannot work because of a covered disability. This cost will vary based on a variety of factors such as:
- How much income is being replaced?
- How long before benefits are paid out?
- How difficult is it to qualify?
If you are concerned about losing your income to a disability, then this coverage might be worth picking up.
Accident Insurance
Accident insurance is another way to get paid if something terrible happens. This type of coverage is all about a quick cast payout for a covered loss. It generally pays a lump sum that you can use to cover whatever you need. Most people will use it to help cover expenses that are not covered by medical insurance. You can even use accident insurance to pay deductibles! In a lot of cases, it is offered as a benefit by employers, but you can buy your own private coverage from an insurer as well.
Workers’ Comp Insurance
Your employer carries workers’ compensation coverage, and it covers injuries and illnesses contracted on the job. Unlike the other two types of insurance, you do not have to pay for workers’ comp yourself. The employer pays for the insurance so that benefits can be disbursed quickly without the need for lawyers and lawsuits. This simple resolution saves a lot of time and money for everyone involved. Every employer in the United States is required to have some form of workers’ comp insurance. There are a few ways that workers’ comp claims are handled:
- Your employer pays claims directly.
- A private insurance company pays claims.
- A state insurance plan pays claims.
Accident and disability coverage are types of insurance you carry to cover specific injuries or disabilities no matter where or when it happens. Workers’ compensation coverage is a type of insurance your employer carries. The company pays for this insurance to cover expenses caused by injuries that occur on the job. If you have questions or concerns about workers’ comp, discuss them with a lawyer who handles workers’ compensation cases.
