worker's comp type insurance?

[CheckItOut]

Thinking that I don't want to sell a car if I get hurt on the job and wondered if any of you have something like worker's comp. I have info on a plan that covers broken bones, hospitalizations and such but does not pay a salary for say, recovery.

[Chad Fabry]

A savings account. Workers comp is money ill spent. Money saved is still yours, money spent isn't.

[kurt]

Savings account or disability insurance.

[CheckItOut]

Originally posted by Chad Fabry

A savings account. Workers comp is money ill spent. Money saved is still yours, money spent isn't.

True assuming your loss does not exceed your savings. The one company I found that pays for specific things actually give you the $ back after so many years if you don't use it. If you pay in $50 per month you'll get every dollar back if you have no claims and if you claims are less than what you paid, you get the difference back.

I'll look into disability too.

[inspector57]

I have disability insurance along with my health insurance.

One other thing to consider is the standard healthcare insurance will not cover you if you get hurt on the job.

I could get cheaper insurance and better coverage through my wife's employer, but if I fall off a roof while working, they would not pay.

I found that out the hard way when I answered a question with the wrong term a few years ago when I broke my foot.

I said I had an "accident" and took two weeks to explain to the insurance company that flagged it for non-payment that the accident happened at my home when I stepped off the porch. They thought I was in a car wreck, and were going to wait until my auto insurance paid first.

[Brandon Chew]

Worker's comp covers employees for accidents on the job. It won't pay for things that happen off the job. I see your company is an "Inc" so you mak be able to get it.

Disability insurance replaces lost income if you have an accident anywhere which results in you not being able to do your job. It usually pays after other coverages have paid their share (if you have them). It's very expensive and can be difficult to get by self-employed people who don't have a well-documented historical income stream. When you buy it, you choose a waiting period from a couple of weeks to six months before payouts kick in. The longer you can wait to start getting the payouts, the cheaper the insurance will be. When shopping for disability insurance, you need to pay attention to definitions and what the policy is covering you for related to inability to do the job you were doing when you got hurt vs your ability to do any job you are qualified to do even after you were hurt. Know what you are buying before you buy it.

Savings account or disability insurance

I recommend savings account AND disability insurance; the longer you can survive on savings, the better. I'm dipping into my savings portion right now...

I'm not an insurance professional, nor do I play one on internet message boards. Speak to one who knows the rules and laws in your state and who can recommend the right coverages for your needs.

[CheckItOut]

inability to do the job you were doing when you got hurt vs your ability to do any job you are qualified to do even after you were hurt.

Thanks Brandon. That is very interesting and I had not thought about that. My former desk jockey job could be done with a broken leg (who the H would hire me though?).