It’s essential to understand what your coverage options are — not just for your employees, but for you, and to others.
Protecting your employees is critical in successfully operating your business, and workers’ compensation not only protects your business from financial loss, but it is also required by law in most states if you have employees. It’s also crucial that you have coverage for your employees before an injury or illness so you are not held financially liable. Workers’ comp coverage typically only applies to events that occur after you purchase a policy.
If you are not in compliance with local laws, you could also face civil or criminal penalties.
Here are some specific benefits of Workman’s Comp insurance:
A workers’ comp insurance policy will cover the majority of injuries that arise from work-related duties, ranging from simple slip-and-fall accidents to repetitive motion injuries and even an illness or disease contracted at work.
Employee coverage will usually include the following:
Workers’ compensation covers most work-related injuries — but not all.
Workers’ Comp insurance costs vary widely based on individual rating factors, and every single insurance quote will generate a different premium. Bellow, you can find some of the things that commonly influence workers’ comp insurance rates.