Families that don’t have workers’ compensation insurance coverage take on significant risk if there is ever a workplace injury. This means paying out-of-pocket for the employee’s lost wages and medical expenses. A significant accident could be financially devastating.
In addition to financial liability, in states where workers’ compensation is required, there are substantial fines for non-compliance. Finally, workers’ compensation insurance provides legal protection because employees who accept benefits generally forfeit their right to sue the employer – regardless of fault.