Texas Workers Compensation Insurance

Information may not be reliable

Businesses in Texas face a decision as to whether or not to carry coverage for their employees. Workers Compensation insurance is optional for most business owners including construction workers. Texas companies have several options when it comes to choosing to carry insurance including the private marketplace, self-insurance and group insurance.

Businesses that are interested in purchasing coverage through a private insurance company must find a state approved agency to buy from. The private marketplace has some of the best benefits for work related injuries, lowest cost rates and overall protection. However in Texas there is no state governance in what a private insurer can charge for Workers Compensation plans. Finding the best value for your dollar can be difficult to do by shopping for a plan from only one company. The best option for your business is to get a quote from an insurance agency that will shop 100’s of carriers for the best plan saving you time and money.

Businesses that choose self insurance must be approved by the state and seen as financially capable of handling injury costs for employees. Employees injured on the job are entitled to fair medical treatment, disability and lost wages, which insurance will help to cover. Workers Comp Insurance also protects the business owner from an employee collecting damages or filing a personal injury lawsuit. Businesses can also choose to join a group that has already become self insured.

Although Workers Compensation insurance in Texas is not mandatory it is strongly recommended for all businesses. An accident can occur in even the best managed facilities. Insurance does more than provide medical treatment to an injured employee it protects employers from lawsuits, paying out of pocket for medical expenses and can provide a level of benefits that attracts better employees.

* The above terms and opinions are to be used for descriptive and reference purposes only. Please review your individual policy for full definitions, exclusions and endorsements. Should you have any questions, please contact your Broker or Agent.

E-WorkersComp.net is an independent insurance agency in Tampa, FL. Visit the site for resources, definitions and to request a Free Workers Comp Quote.