What coverages does occupational accident coverage?
Whereas workers compensation normally provides state-determine coverage, occupational accident coverage allows owner-operators to determine their policy’s protections. Some coverages to consider are:
- Liability Coverage, which may cover injuries and property damage that an owner-operator causes during an accident
- Medical Expense Coverage, which may cover medical costs for injuries that are sustained during
- Temporary Total Disability Coverage, which may cover lost income if an owner-operator is unable to work for a shorter period of time
- Permanent Total Disability Coverage, which may cover lost income if an owner-operator is unable to work for a longer period of time (indefinitely)
- Accidental Death & Dismemberment Coverage, which may compensate loved ones if an owner-operator passes away
- Chiropractic Benefit, which may extend medical expense coverage to chiropractic services
- Passenger Accident Benefit, which may extend one or more coverages to passengers who are in a truck
All of these are typically restricted to issues that are directly caused by a workplace accident, namely a collision with other vehicles or similar accident. They generally don’t cover other causes of injury, disability or passing away.
The limits for accidental death and dismemberment coverage are usually set to one year of an owner-operator’s salary/income. Most limits and deductibles can be customized in these policies, however. They tend to have much more flexible features than workers compensation policies do.
Who pays for occupational accident coverage?
While owner-operators normally can purchase their own occupational accident coverage, it’s frequently paid for by the companies that contract with owner-operators. Companies purchase the coverage both as a benefit for their contracted drivers, and as a protection for themselves.
If drivers are injured while contracted with a company, they might try to sue the company for lost wages and/or medical expenses. Occupational accident coverage may provide a line of defense in this case.
How much are premiums for occupational accident policies?
The premiums charged for occupational accident policies vary substantially. A driver’s license and endorsements, driver’s record, type of equipment used, regions driven in, and company’s past claims history are merely some of the details that can impact cost.
Because policies offer flexible coverage options, however, they can be tailored for many different budgets. An independent insurance agent can help find a customized policy that provides robust coverages at affordable rates.
How can businesses in Massachusetts get occupational accident insurance?
For help finding occupational accident insurance in Massachusetts, contact the independent insurance agents at Paul T. Murphy Insurance. Our agents will work closely with you to ensure your drivers (or perhaps other employees) are well-protected against accident-caused workplace injuries.