Nearly every industry has its share of risks for employees. Your company’s risk depends heavily on the industry. To adequately protect your employees, you may want to consider occupational accident insurance.

What Is Occupational Accident Insurance?

Occupational accident insurance, or personal accident insurance may sound similar to workers’ compensation. It is insurance coverage that you can purchase to protect yourself and to protect employees in the case of an accident or injury while at work. The coverage amount is determined by perceived risk and unlike workers’ compensation that covers all medical expenses, personal accident insurance only covers up to the policy limit.

Why Should Your Company Consider Occupational Accident Insurance?

Many companies choose occupational accident insurance because it is more flexible than workers’ compensation. You have the option to control the coverage and to limit certain coverages. You can also add coverages that may not be available under workers’ compensation. For instance, you could provide survivor benefits, accidental death coverage or permanent disability coverages. Also, personal accident insurance coverage is generally cheaper than workers’ compensation policies.

When it comes to running a business, it is your responsibility to ensure that your employees are taken care of. Accidents are inevitable and with adequate coverage, you can take care of your employees and make sure that you don’t lose money in the process.

Can Occupational Accident Insurance Protect Your Business Better Than Workers’ Compensation?
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