A nurse at Tennova Healthcare might sprain her back while moving a patient. A professor at Austin Peay State University may slip on a wet floor in a lecture hall. A worker at Trane Company could be injured while adjusting faulty equipment. These potential injuries have one thing in common: If they happen to employees while on the job, they can be covered by workers’ compensation insurance. If you are an employer in Clarksville, an independent insurance agent can help you find the best and most affordable workers’ compensation insurance policy to cover your business. Contact a local insurance agent to learn more.
Is Workers’ Compensation Insurance Required in Clarksville?
Clarksville businesses must be in compliance with Tennessee state laws. This state mandates that all employers in the construction and coal mining fields, and all other employers that have at least five full- or part-time workers, must cover their employees with workers' compensation insurance. It is not necessary to purchase coverage for sole proprietors, LLC members, corporate officers, or partners; however, you do have the option to do so if you wish.
How Much Does Worker’s Comp Insurance Cost in Clarksville?
Your cost for workers’ compensation coverage will depend on the types of jobs your employees do and your company’s overall payroll. Every job is assigned a designated classification code, and rates for each class code are regulated by the Tennessee Department of Labor and Workforce Development. The more likely a worker is to suffer a serious injury, the higher the cost for coverage.
Commercial insurance providers are required to use these base rates when calculating costs. However, these insurers are permitted to offer rate discounts of up to 25%. It is therefore in your best interest to compare a few quotes before selecting a policy. The following are average rates paid per every $100,000 in employee payroll for three of the top industries in Clarksville, TN:
- Manufacturing: $4,510 a year
- Public Administration: $210 a year
- Construction: $10,847
The construction industry is among the most expensive to cover with workers’ comp insurance. This is because the frequency and severity of construction-related injuries are very high. A construction business with a well-established safety rating may be able to get significant policy discounts through experience modifiers. Talk to your independent insurance agent to learn more.
Clarksville Workers’ Compensation Covers Medical Treatment
Workers' compensation insurance is designed to ensure that if an employee is injured or becomes ill on the job, they can receive appropriate medical treatment and follow-up care with no out-of-pocket costs to them. As an employer, you may designate authorized physicians that your workers may go to for their workers’ compensation medical care. An exception is made for severe injuries that require immediate attention. In that case, the cost of treatment at the nearest emergency room will be covered. Workers’ comp insurance will also reimburse your employees for their mileage if they must travel more than 15 miles one way in order to receive care from an authorized physician or referred specialist.
Clarksville Workers’ Compensation Insurance Provides Disability Coverage
If one of your employees needs more than 7 consecutive days to recuperate from a work-related injury, workers’ compensation insurance can provide them with disability coverage. Through this coverage, temporarily disabled employees can receive a weekly benefit of 2/3 of their average weekly wage. Sometimes, physicians will approve injured workers to return to light-duty work. If so, employees must comply or risk losing their benefits.
If a recuperating employee is earning less money than prior to being injured, either because the light-duty job pays less or they are working fewer hours, workers’ comp insurance can compensate them with 2/3 of the difference in income. In the unfortunate event that an injury leaves an employee permanently disabled, workers’ compensation will pay out a lump-sum settlement payment. This can provide the injured worker with 450 weeks’ worth of compensation in an amount that is based on both the employee’s previous earnings and the severity of their impairment.
Workers' Compensation Covers Fatal Work Injuries in Clarksville
Sadly, workers sometimes suffer fatal injuries on the job. Workers’ compensation insurance can help surviving family members manage the financial difficulties of this loss by providing them with compensation benefits. These benefits include up to $10,000 in burial costs and a weekly payment to the surviving spouse that will range from 50% to 66% of the employee’s previously earned wages, depending on whether the deceased had dependent children. In the event that the fatally injured worker has no spouse or dependents, $20,000 will be awarded to their estate.
How to Appeal Workers’ Compensation Claim Denials
On occasion, workers’ compensation claims may be denied. This may happen if the insurance provider has reason to believe that the injury did not occur on the job, if the injured employee was intoxicated at the time of the work accident, or if there is reason to suspect that the injury was intentionally self-inflicted. If an employee feels that a workers’ compensation claim was unjustly denied, or if an employee is unhappy with a proposed settlement amount, they can file an appeal and the Tennessee Bureau of Workers’ Compensation will review the case and hand down a decision.
Find the Best Workers’ Compensation Insurance in Clarksville
If you are looking for suitable workers’ compensation insurance to cover your Clarksville business, an independent agent can help. These agents can match you up with an insurance provider that specializes in covering businesses that operate in your industry. Your agent can also help you compare rates so that you can be certain you are getting your policy at a competitive price.
Are you interested in learning more about the many benefits of working with a local, independent insurance professional? If so, contact an insurance agent in or near Clarksville to get started.
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