Understanding Occupational Accident Coverage

It’s often thought that the most important asset to trucking companies in the freight they’re transporting. However, as much as the goods being transported are valued, the individuals doing the transportation are even more valuable. One of the ways that trucking companies can protect their most important asset is by having the right insurance policies, one of which being occupational accident insurance.

What Is It?

Due to the fact that independent contractors aren’t employees, trucking companies have no legal obligation to provide any additional benefits. As written on www.truckinsure.com, while employees are covered under government-mandated workers’ compensation laws, independent drivers are not. As a result, contractors who suffer on-the-job injuries would need to either pay for their expenses out-of-pocket or sue the hiring company. However, with occupational accident coverage, expenses related to a contractor’s accident would be covered. While it generally doesn’t offer the same coverage limits as workers’ compensation, it offers peace of mind for your contractors who would know that they’re covered in case something happens.

How Does It Work?

Like workers’ compensation, occupational accident coverage covers expenses tied to job-related injuries. It can cover medical bills, dismemberment and death benefits as well as lost wages. While it may not function exactly the same way, it will protect your company against lawsuits and serve as another way to show your independent drivers that you care.

Depending on their makeup, some companies opt for smaller workers’ compensation packages while offering more occupational accident benefits. Work with an experienced agent to obtain the right mix of protection for your staff.