A work-related accident happens every seven seconds, which adds up to 540 accidents per hour across the nation. Accidents on the job are more common than you may think, which is why the law requires all employers in Columbia to have a workers’ compensation insurance policy. It is important for you and your employees to be covered in the case of an unforeseen accident.
When you work with a local independent insurance agent in Columbia, it’s easy to find the right workers’ compensation insurance for you. They will show you multiple insurance quotes at competitive prices that fit your needs. Find a local insurance agent near Columbia to get started.
Is Workers' Compensation Insurance Required in Columbia, Maryland?
The law states that every business in Columbia with one employee or more must have workers’ compensation insurance. There are a few exceptions to this law, such as if your yearly payroll totals less than $15,000, or if agricultural employers have less than three employees.
In addition to workers’ compensation insurance, you may also consider extra lines of commercial insurance protection such as:
- Commercial auto: This provides coverage of physical damage and liability insurance for vehicles used by your business.
- Commercial building: This provides coverage for your buildings, equipment, inventory and even customers' personal property.
- Commercial boat: This provides protection of goods and equipment in transit.
How Much Does Workers’ Compensation Cost in Columbia, Maryland?
Workers’ compensation rates are around 12% lower than the national average. There are three main factors that affect the rate a business will pay for workers’ compensation insurance:
- Employee classification
- Experience modifier
- Size of payroll
Employee classification determines the status of the employee. It is a good idea to be familiar with these classification codes since they are used for several purposes including tax filings. The experience modifier is the workers’ compensation claims history. These are the main factors to determine your premium.
Columbia, MD, Workers’ Compensation Covers the Cost of Medical Treatment
In order for an injury to be covered, the harm suffered by the employee must have been caused by an “accidental personal injury arising out of and in the course of employment.” If the injury an employee suffers falls under this description, then Columbia workers’ comp insurance can help provide coverage so you aren’t stuck with a huge financial burden. It also provides benefits for occupation illnesses. Some examples of what is covered:
- Doctor and hospital bills
- Physical therapy
- Mileage to and from doctors’ appointments
- Vocational rehabilitation
Columbia workers’ compensation insurance will cover all necessary expenses that relate to the accidental job-related injury.
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Workers’ Compensation Insurance Provides Disability Coverage for Columbia, MD, Employees
If an employee in Columbia misses more than three consecutive days due to a work-related injury, workers’ compensation insurance will provide disability benefits to help with the financial burden.
If an employee is completely unable to work, they will receive temporary total disability relief and will be provided with two-thirds of their average weekly wage in Columbia. Until they have reached complete recovery, they will receive these benefits. If they miss more than fourteen days consecutively due to the job-related injury, they will be paid for the first three days of disability.
If they are able to return to work but are earning less due to a job-related injury, Columbia workers’ comp pays a temporary partial disability benefit. This benefit covers up to 50 percent of the difference between their pre-injury and post-injury wages.
Work-related accidents may result in permanent disability. According to Maryland law, an employee is totally and permanently disabled if they completely lose the use of both arms, eyes, feet, hands, or legs. If they qualify, they will receive two-thirds of their average weekly wage, up to the state's maximum benefit of $1,052.
Compensation for Workplace Fatalities in Columbia, MD
Job-related accidents may result in a fatal injury. In this unfortunate event, workers’ compensation insurance can help surviving dependents and family members with the financial hardships.
The employee’s family will receive death benefits that include up to two-thirds of the average weekly wage. The family members will also receive up to $7,000 to help with the funeral costs and burial expenses.
What Can Cause a Workers’ Compensation Claim to Be Denied?
Workers’ compensation claims are sometimes denied. This may occur if an employee doesn't notify their supervisor of the incident in time, if the injuries were self-inflicted, or if there was not enough evidence.
However, if they feel that their workers’ compensation claim was unjustly denied or they are unhappy with the settlement, they can submit a claim form to the Maryland Workers’ Compensation Commission.
How Can You Find the Best Workers’ Compensation Insurance Policy in Columbia, MD?
A local independent insurance agent can help you find the right workers’ compensation insurance policy for your Columbia employees. Independent agents work with multiple insurance companies to compare prices and find a provider who specializes in covering businesses like yours.
Use independent agents to find the best insurance plan in Columbia. You specify what you’re looking for, and the TrustedChoice.com network will recommend the best local agents for you. We do not sell to third parties. Any information you provide will be only sent to the agents you pick.
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