Occupational accident insurance, or OAI, can protect contractors injured while working for your company. Providing this coverage extends your insurance coverage to independent workers. This can reduce the risks associated with on-the-job accidents for independent contractors who aren’t on your direct payroll. The team at 1 Truck Insurance Services LLC in Kewanee, IL can teach you more about the specific coverage options for your business.
What Is Occupational Accident Insurance?
Similar to workmen’s compensation insurance, occupational accident insurance provides medical and lost wage coverage for applicable workers. Your coverage may vary depending on your specific injury and the size of your company. However, by providing this coverage, you can attract independent professionals without putting your financial stability at risk.
What Are the Benefits of Occupational Accident Insurance?
Our team would be happy to help you understand the costs associated with putting this insurance into place. In general, you’ll typically have the ability to set your coverage amount. OAI plans to give you more flexibility than other coverage options. For example, depending on the insurance company you work with, you may be able to offer survivor benefits, accidental death, and disability to covered individuals.
How Your Business Can Benefit From OAI Coverage
Complement your workers’ compensation policy with occupational accident insurance. This will help you stand out from competitors and attract the right talent to your team. Our agents can also create personalized coverage that meets your specific requirements and industry standards.
When it comes to add-on riders and benefits, it makes sense to work with experienced commercial insurance agents. We take a tailored approach that expands or limits your coverage as needed. So, come to us for advice on how to handle the potential risk associated with independent contractors or self-employed individuals at your organization.
Contact the team at 1 Truck Insurance Services LLC in Kewanee, IL to make an appointment and get a free quote!
