No matter what type of business you own, your employees are your most valuable asset. This is why it’s critical to have a workers’ compensation insurance policy in place for your tech business. 

Whether your business involves app developers, IT consultants, electronic repair and installation technicians, IT managers, software developers, SEO consultants, technical writers, web designers, or cybersecurity experts, workers’ compensation is a must. 

Keep reading to learn what you need to know. 

 

Do You Need Workers’ Comp Insurance for Tech Companies?

Do you need workers’ compensation insurance for your tech company? The answer is yes. Let’s take a look at why. 

First, workers’ compensation is required by most states. From the moment you hire your first employee, you need to have workers’ compensation insurance. If you don’t have this coverage, you could face serious consequences. 

Some states will penalize your company with fines, criminal record, and even jail time. It’s your responsibility to know your state’s legislation regarding work comp. Not sure? Don’t panic! Our experts can help. 

Another reason you need workers’ compensation is to protect your business. If an employee gets injured or incurs an illness as a result of IT work, you’re held responsible for their medical expenses. 

Without proper coverage, you could be facing thousands in out-of-pocket expenses or even lawsuits from injured employees. Even if your state doesn’t require workers’ compensation, it’s essential for protecting your tech business. 

Lastly, workers’ compensation helps protect your employees! Your employees are what make your company run, so giving them the protection they need is essential. 

 

What if Your Tech Workers are Remote?

When considering what types of insurance you need for your tech company, you may wonder whether you need workers’ compensation if your employees are remote. 

The answer is yes! Even companies with remote or telecommuting employees need workers’ compensation insurance to cover injuries or illnesses that occur during work tasks. 

 

What Does Workers’ Comp Insurance for Tech Companies Cover?

Since workers’ compensation insurance for tech companies is so important, let’s take a look at what it covers. 

Medical Expenses 

First, workers’ comp covers any medical expenses if an employee gets injured or contracts an illness as a direct result of their job. For tech employees, many injuries and accidents are related to computers, hardware, and technology. 

Other common injuries include slipping and falling, repetitive motion injuries, electronic equipment malfunction, and motor vehicle accidents while traveling to and from clients during work hours. It’s important to note that workers’ compensation doesn’t cover an auto accident if it occurs on the commute to and from work. 

Workers’ compensation covers trips to the doctor, emergency medical transportation, initial diagnosis, treatment, medications, physical therapy, and many other expenses related to your employee’s medical needs. 

Lost Wages 

Workers’ compensation also covers all lost wages while an employee is out due to an injury or illness resulting from work. If an employee fractures a leg and misses work for eight weeks until they’re healed, workers’ comp covers these lost wages. 

Other Expenses Covered by Work Comp

Other expenses covered by work comp include:

• Ongoing care 
• Recurring doctor’s visits or trips to the chiropractor
• Disability benefits for those who never reach pre-accident condition
• Funeral costs 

 

Direct Work Comp Can Help Support Your Tech Company

Having workers’ compensation is critical to staying within state guidelines and protecting your employees and business. It’s no secret that insurance for tech companies can be difficult to navigate. That’s why we started Direct Work Comp. 

Our experts can show you the ropes of work comp to help you streamline your process, save up to 30% on premiums, and lead your business to success. Get a quote for your tech business today!