Occupational accident insurance
Pays medical bills and lost income if an owner-operator is hurt on the job and has no workers' compensation.
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What it pays for
- Medical bills from an injury on the job
- Disability income while you recover
- Death and dismemberment benefits, on most plans
What it leaves out
- Injuries off the job
- Liability to other people
- Employees on your payroll (they need workers' compensation)
Who needs it
Independent owner-operators, especially those leased to a carrier. Many carriers require it in the lease.
Requirements
Not federally required. Many motor carriers require their leased owner-operators to carry it.
Common questions
Is occupational accident the same as workers' comp?
No. Workers' compensation is for employees and is set by state law. Occupational accident is a policy an independent contractor buys for themselves, with benefits and limits set by the plan.