Traditional business insurance policies don’t cover all forms of accidents, injuries and deaths that occur in the workplace. If you own a trucking business and hire owner operators to transport your loads, they aren’t covered under Worker’s Compensation. In the trucking industry, companies need occupational accident coverage to protect owner operators who are injured or killed while on the job.
Work related injuries, illnesses and deaths are more frequent than most business owners realize.
- 160 million employees contract work related illnesses every year
- 340 million employees are injured on the job each year
- Over 2 million employees die each year from work related injuries
While safety management does reduce the number of accidents, companies still need to realize that accidents can and most likely will happen at some point in your organization and you need to protect employees and owner operators.
Owner Operators Independent
Owner operators are independent contractors, which mean that they are responsible for their own health insurance. The fact that they are independent is also, why owner operators aren’t covered under Worker’s Compensation.
Why Occupational Accident Coverage
If owner operators are independent, than why is it important for commercial trucking companies to carry occupational accident coverage?
The main reason why companies in the trucking industry need occupational accident coverage is that some employees are misclassified as independent contractors. If this is the case then an employer is responsible for medical expenses if an owner operator is injured while on the job.
Another important reason for carrying this type of additional insurance is that some owner operators may claim they are employees and hold the company liable if they are injured. Occupational accident coverage will protect businesses in these cases and take care of accident related medical expenses.
Protecting your companies and employees is an important part of additional insurance coverage. To explore additional insurance coverage for your business, contact the experts at Alexander & Alexander