Why Worker’s Comp and Group Accident Insurance Go Hand in Hand

How much insurance does a business or organization need? We get that question a lot. Worker’s compensation protects your employees when there’s an accident, but what about everyone else?  If your organization has volunteers, students or participants (like gym members, for example) what happens when they get injured?  That’s where we come in.  Your organization can help keep everyone protected by adding group accident coverage.

A group accident policy will support your business’s volunteers and participants, while worker’s compensation is there to help your employees. Together it’s a powerful combination—protection for literally everyone who is part of your organization in one way or another.

 What is Worker’s Compensation

Most states require business owners to have worker’s compensation insurance. In the case of a workplace accident, worker’s compensation will cover an employee’s medical expenses and other costs. If wages are lost, a portion may be compensated too.

What is Group Accident Insurance?

Group accident insurance supports those associated with your business in the case of an accident or illness. This is NOT for employees.  For example, you run a daycare, and your employees are covered through worker’s comp and other plans. Group accident insurance will support your daycare volunteers, chaperones, and children. If a child were to have an injury at your daycare, for example, a group accident policy would help cover those out of pocket medical expenses.  As the business owner, you won’t have to worry about covering those costs.  The group accident plan is very reasonable and a great supplement to both your general liability and your worker’s comp policies.

Group accident insurance is an additional way to protect your businesses’ volunteers, attendees, and participants, from accidents and illness.

What Does Group Accident Insurance Cover?

If an accident or illness occurs, group accident insurance is there to help cover costs for your business’ participants and even volunteers. Group insurance can be additional financial support, even if there is a traditional health insurance in place. A group policy will pay regardless of circumstances’ or fault, providing more “peace of mind.”

Some of the types of services that group accident insurance can cover include:

  • Medical equipment
  • Casts + braces
  • Diagnostics + lab tests
  • Emergency Room visits
  • Other services

Who Does Group Accident Insurance Cover?

Group accident insurance covers illnesses and injuries that traditional insurance might miss. Anyone who is not an employee can be protected with a group accident policy, from athletes to volunteers; we’ve got you covered.

  • Athletes
  • Fans
  • Coaches
  • Volunteers
  • Chaperones
  • Students
  • Members
  • Participants

Why Do I Need Both Types of Coverage?

Worker’s comp is there to protect your employees. Group accident insurance protects the people that support your business. If an accident or illness occurs, group coverage helps cover those costs. Group accident coverage can help cover out-of-pocket medical expenses. Plus, it makes good business sense by helping reduce the risk of potential lawsuits and other hefty price tags that can occur in the event of an injury.

Peace of Mind with pomi

At pomi, we’re dedicated to helping agents find the best protection for their clients. We also give you control. Our policies are what we like to call DIY. This means you have control of the process and the schedule. If you ever have a client with challenging requirements, POMI’s policy experts will help you create the perfect package.

Send us a message, schedule a zoom chat on our contact page, or email us at [email protected], and get started finding the right coverage today!

These posts are for informational purposes only and should not be considered as specific financial, legal or tax advice. Depending on your individual circumstances, the strategies discussed in this post may not be appropriate for your situation. Always consult your legal or tax professionals for specific information regarding your individual situation. In providing such information, Great American does not warrant that all potential hazards or conditions have been evaluated or can be controlled. The liability of Great American Insurance Company is limited to the terms, limits and conditions of the insurance policies underwritten.  © 2024 Great American Insurance Company. All Rights Reserved. Great American Insurance Group’s member companies are subsidiaries of American Financial Group, Inc. (AFG). AFG is a holding company whose common stock is listed on the New York Stock Exchange. Policies are underwritten by Great American Insurance Company, an authorized insurer in all 50 states and the DC. Please see Great American Insurance Company’s Legal Disclosures/Terms and Conditions here.  https://www.greatamericaninsurancegroup.com/contact/legal-disclosures

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