There’s only so much you can control when running a company. And despite keeping a safe environment for your employees, accidents can happen. Workers’ compensation insurance is there for you for the things you can’t control.
Generally, businesses with at least one part-time or full-time employee must get workers' compensation insurance. While it might be a “have to have” in your state, it’s important for business owners to understand the benefits of having a workers’ compensation policy.
In its broadest sense, workers’ compensation insurance helps your employees if they get a work-related injury or illness, which in turn helps them return to work. Specifically, workers compensation insurance is a win-win for both parties:
For employees, it provides:
- Medical coverage
- Disability benefits
- Lost wage replacement
- Psychological rehab
- Death benefit
For employers, it can provide:
- Fraudulent claims prevention support
- Safety resources and expertise available to reduce workplace accidents
- Investigative team for claims
Some of these employer benefits are unique to the insurance carrier you choose. Don’t put your business or employees at risk, get a workers’ compensation policy today.
This blog post is not offered, and should not be relied on, as insurance advice. You should consult an insurance agent for advice in specific situations.