Most of the business owners around Lubbock, Texas that I deal with exclude coverage for themselves and other owners on the company's workers' compensation policy. It seems that many owners don't like the idea of getting hurt or don't believe that an accident will befall (never used "befall" before :-)) them.
Perhaps some of them believe that if they get hurt, they will depend on their health insurance to cover the bills. Well, that's a problem. Almost all group health insurance plans exclude coverage for an on the job injury. WHAT you say!? It's almost always an exclusion on your very expensive group insurance.
Now why would an on the job injury be excluded by your company or your spouse's company's health insurance? The answer is simple…if it's not excluded, it's covered. In other words, all the non-ownership employees are covered for job related injuries under work comp and if your group insurance didn't exclude them, the group insurance would pay as well!
Business owners are covered under the same terms and conditions that their employees are covered under and those polices have alot of exclusions. So don't have a major accident while driving for employment purposes without workers' compensastion covering the owner because the group plan may not cover the bills.
When you are ready to look at your workers' compensation insurance options and you're a Texas business, give us a call at 806-798-7800 or visit www.hettlerinsurance.com for more options. Be safe.