Truckers Workers Compensation & Occupational Accident Coverage

A common question that comes up is, what is the difference between workers’ compensation and occupational accident coverage for my trucking company? And, when does my trucking company need workers’ compensation or occupational accident coverage? The truth is they are fairly similar but are in fact different. You will typically want to have these coverages anytime you have company drivers or owner operators who are leased on to your authority.

Typically, companies that hire drivers as W2 employees will elect to go with Truckers Workers’ Compensation policy. This coverage provides the employee with paid medical expenses and covered lost wages through the company sponsored workers’ compensation program. These plans are fairly basic, and if an employee is injured on the job, and the claim is submitted properly, the coverage can begin immediately.

Workers’ compensation has an added layer of protection that occupational accident coverage does not. Yes, they both provide coverage for medical expenses should your employee/driver get injured while in the course and scope of employment (under dispatch if leased on). But, only workers’ compensation will provide legal defense should an injured employee/driver file a lawsuit against your company in relation to the claimed injury. Occupational accident does not provide this coverage.

Trucker’s Occupational accident coverage

This type of coverage is typically offered to trucking companies that hire 1099 contractor drivers, or lease on owner operators to their authority. These plans are typically at a lower cost to the employer than a traditional workers’ compensation policy. The employer can also control the amount of coverage provided to the employees. Typically, these plans are flexible and can include various coverage like, temporary disability, or accidental death if the employer chooses. However, occupational accident will not cover lost wages to the employee/driver.

Road Ready Insurance Agency specializes in making sure our trucking company clients are fully covered, properly educated, and save as much money as possible for their full trucking insurance coverage. Do not trust a general agent with your specialized trucking business.

Give a Road Ready trucking insurance specialist a call today and let us provide you with a free policy review and multiple competitive quotes within your state.

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