What is the main purpose of Workers' Compensation Insurance for contractors?

The main purpose of Workers' Compensation Insurance for contractors is to cover employees' medical expenses and lost wages due to work-related injuries. This insurance is crucial because it provides financial assistance and support to workers who sustain injuries while performing their job duties. The compensation includes medical treatment costs, rehabilitation expenses, and a portion of lost income during recovery periods.

This coverage not only helps injured workers but also safeguards the employer by limiting their liability in case of workplace accidents. By providing this insurance, employers can fulfill legal requirements while ensuring that their employees have access to necessary medical care and financial support, promoting a safer and more responsible work environment.