Video: What Is Stop Gap Insurance?

What Is Stop Gap Insurance?

Stop gap insurance actually refers to worker's compensation. Find out about stop gap insurance with help from a longtime insurance broker in this free video clip.

Video Transcript

My name is Susan Combs, and I'm an insurance broker for Combs and Company. Today, we're going to talk about what is stock gap insurance. Stock gap insurance can actually mean you know different things to different people. Some people might first think of Medicare when they are thinking about this and thinking about a Medicare gap policy. But in most instances it actually refers to worker's comp. So with the stock gap it actually limits the liability that an employer would pay if somebody is injured on the job. So in essence, you know you are paying worker's comp which in all states with the exception of Texas is a requirement of having employees so when you have the worker's compensation you are paying into this insurance policy so that God forbid something happens to one of your employees, they get injured on the job, you know they get some sort of sickness or things like that and they are unable to work because of that then the money will come from that policy that you paid into over the years. So the best thing to do is if you have questions on worker's compensation or stop gap insurance is to find a broker, property and casualty broker that's very familiar with this area and they can help you navigate.

What Is Stop Gap Insurance?

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