Workers' Compensation Insurance
for Architects, Engineers, & Design Professionals
Workers' Compensation Insurance — often referred to as "Workman's Comp" — is designed to help businesses pay for the medical expenses and some lost wages of employees in the event that they fall ill or get injured on the job.
While architects, engineers, and design professionals tend not to face great physical threats in the office, your line of work might require you to visit dangerous construction sites or manufacturing facilities, making Workers' Compensation coverage a wise investment.
In addition, Workers' Compensation Insurance is often required to some degree by law, so you may be obligated to carry it, regardless. Because of this, many owners of low-risk businesses regard it as an unnecessary expense. But a solid Workers' Compensation policy can offer substantial coverage to you and your employees, often with very affordable monthly premiums.
Read on to learn how this policy can protect architects, engineers, design professionals, and their businesses.
Workers' Compensation Insurance: Protecting You
Workers' Compensation Insurance: Protecting Architects, Engineers, and Design Professionals.
Unless your firm often travels to dangerous worksites, you're probably right to assume that you run a relatively safe office space. But you and your employees don't need to frequently operate heavy machinery or handle toxic materials to incur a workplace illness or injury. Imagine these scenarios…
- While reaching for something in a supply closet, an employee falls off the step stool and breaks a bone.
- An employee suffers from carpal tunnel syndrome and requires surgery.
- Black mold has been growing beneath the paint in the office bathroom, making a few employees sick.
In other words, you and your employees are not impervious to all unfortunate accidents and unexpected mishaps, however unlikely. These types of situations can happen to anyone, and instead of making your business pay for potential medical expenses, you can let your Workers' Compensation Insurance take over.
It's important to understand that your obligation in terms of Workers' Compensation Insurance is controlled on a state-by-state basis. You may live in a state that requires you to cover all employees: full-time, part-time, and contractors. Or you might live in a state that mandates that you only cover W2 employees.
If you are the boss and only employee at your firm, you may think that you don't need Workers' Compensation Insurance, but this is regulated by states, too. Some say that you must carry it, even if you are the sole proprietor, so make sure you contact an insureon agent if you are unsure of your state's regulations.
Some states have "pools" from which you can buy Workers' Compensation coverage, but these are few and far between. Most likely, you'll have to find your own insurer.
Workers' Compensation Insurance: Key Details
Workers' Compensation Insurance: Key Details for Architects, Engineers, and Design Professionals
Architects, engineers, and design professionals may run very different businesses. That's why policies like Workers' Compensation can be customized to fit the needs of your business and your employees. Before you add a Workers' Compensation policy to your business insurance plan, you might want to take into consideration what is and is not featured in a typical plan. This may include…
- "Part Two" Coverage. This type of coverage — the Employers' Liability section that protects you from unfounded employee-made claims — is almost always included in a Workers' Compensation policy. What varies is its limit. When you decide on a plan, make sure that the limit fits your needs.
- Out-of-State Injuries. If you and your employees don't often travel out of state, you can ask your insurer to leave this feature out of your policy. However, if you live near a state border or regularly travel around the country, this might be a good addition to your Workers' Compensation policy.
- Illness and Injury Coverage. There will always be a list of illnesses and injuries that are covered by your plan, but this list often varies. As a business owner, it's a good idea to know what's covered and what is not.
- Funeral Expenses. Typically, you can choose to include or exclude potential employee funeral expenses.
- Lost Wages. Generally, when you or an employee falls ill or get injured, some days of work will be missed. Workers' Compensation usually reimburses a certain percentage of these wages, and it's good to know exactly what that percentage is.
- Excluding Yourself. As long as your state allows it, you can generally "exclude the owner" from the Workers' Compensation policy and save yourself some money.
Customize Your Business Insurance Plan
Design Professionals, Architects, and Engineers: Customize Your Business Insurance Plan
Ready to customize a Workers' Compensation policy to fit your business insurance plan? Contact an insureon agent who specializes in the insurance needs of architecture, engineering, and design firms.