Do you have workers compensation insurance? If not, then you should consider it. Workers compensation insurance protects your business and its employees in the event of an accident or injury on the job. It is important to protect yourself from lawsuits if a worker gets injured while on the clock. In this blog post we will discuss why every business need workers comp coverage and how to get started with getting a quote today!
Workers Comp Insurance Will Protects Employer
If you have employees who are injured on the job, this is important to cover your business in case they want to sue for damages. Workers comp insurance will pay out a benefit payment, which usually amounts to two-thirds of their salary while they’re healing and doing physical therapy or other rehabilitation work. This helps keep them from having financial worries while they’re out of work, which keeps them focused on getting well.
Don’t assume that you never need to buy workers compensation insurance because it’s not a big business or the company is small. Companies can be held liable for injuries if their workforce doesn’t have coverage and people are injured at work.
It May be Required by Your State
In most states, if you are hurt at work and can’t work for a while because of the injury or sickness, then you will get money from workers comp. The two parts of coverage are wage loss benefits for about two thirds of your salary while you heal and medical benefits for your treatments.
People are often suspicious that workers compensation is a scam or just an excuse to avoid responsibility. But it’s not true at all! It provides coverage in case your company does not have liability insurance, or you want more protection than what this type of coverage can provide. Workers comp will ensure that the injured employee is compensated for their loss as well.
The Cost of Workers Compensation Insurance Varies
Consider the following factors when determining how much it will cost your company to buy workers compensation insurance:
– The number of employees at each location. If you have more employees, then the cost will be higher.
– The type and extent of protection desired for those on site (i.e., in addition to medical benefits, you may want wage continuation coverage).
– The type of company structure, such as a corporation or LLC. Different structures have different requirements for organizational liability insurance and workers compensation.
If you would to like to discuss your options for workers compensation insurance. Please call us at 561-732-9305 our quoting hours are Monday through Friday from 8:30 AM to 5:00 PM. In addition, you can request a quote online. Please remember, We Handle All the Work, While You Save!