This is a question of frequent confusion. Some people know this insurance coverage as “Occ Acc”, and others, especially Fed Ex Owner Ops, know it as “Work Accident”.
Owner Operators are usually excluded for Worker’s Comp on their Motor Carrier’s plan because they are not employees, they are Independent Contractors.
Occ Acc/Work Accident plans provide the remedy for that exclusion, by offering various Medical, Disability and Death expenses for eligible on-the-job accidents that the Owner Operator may incur while under Dispatch. (A good plan also provides some coverage for “non-occupational” activities…while you’re not working.)
The coverage is not the same as Worker’s Comp, so is less expensive. It pays out directly to the drivers or their survivors on a policy limit basis.
Independent Contractor Owner Operators can purchase the coverage through their Motor Carrier, or they can purchase the coverage on their own through an outside plan of their choosing. It makes good sense in finding out which is the best value for you on coverage and premium. A few minutes of research can provide you with more information as to how your premium is calculated, and whether you’re currently in the best plan for you.
