You are probably all too familiar with the risks associated with constantly being on the road. Both employees and independently contracted drivers can be involved in a catastrophic accident, at any time. As you know, the employee driver is protected under the motor carrier’s workers’ compensation policy; but what about the independently contracted driver?
Occupational accident coverage allows motor carriers to protect themselves and their contractors. This type of insurance provides coverage for accidental injuries that occur in the course of a driver’s work. Unlike workers’ compensation, which covers employee drivers and is mandated in most states, occupational accident policies provide coverage for independent contractor drivers.
Some of the benefits of obtaining occupational accident coverage include:
- Lawsuit protection: The trucking industry depends heavily on owner-operators who own their own rigs and lease their services to motor carriers. Not providing an occupational accident program for contractors exposes carriers to expensive lawsuits in the event of a serious injury.
- Recruit the best: An occupational accident program provides a financial safety net for drivers and their families; this type of benefit can help motor carriers recruit and retain high-quality drivers.
- Reaffirm driver independence: By purchasing occupational accident coverage, drivers reaffirm their role as independent contractors rather than employees, maintaining the contractual arms-length relationship with the company.
When looking for an occupational accident program or reassessing an existing one, motor carriers should consider the following:
- Insurer reputation: The insurance company selected to provide the program should be reputable, with a solid track record in the industry and professionals who really understand the trucking industry and motor carriers’ specialized needs.
- The right limits: Without adequate policy limits in place, injured drivers may be forced to seek other restitution. Medical bills from a serious accident can run into the hundreds of thousands of dollars.
- Value added programs: Some occupational accident programs offer value-added benefits to drivers, including travel assistance benefits after an accident; prescription drug discount plans; and identity theft protection.
Occupational accident coverage is a critical component of a motor carrier’s insurance needs. If you are interested in more information about the OneBeacon Occupational Accident program, or want assistance in reassessing an existing program, contact us at firstname.lastname@example.org , or (800) 828-5273.
The article is intended for marketing and informational purposes only. See a description of the policy for complete details.