Are you looking for a way to protect your business from unforeseen emergencies and the costs that they come with? Has a fellow business owner recently come into some trouble with injured workers? If so, then you need to find an insurance agency that offers workers’ comp.
Many business owners have loyalty to one insurance agency. If that agency doesn’t provide workers’ comp, they’re very unlikely to pursue it elsewhere, which can lead to some substantial federal and state fines.
See below for an in-depth guide that you can use to learn about workers’ compensation and why it’s an essential form of business insurance.
What is Workers’ Compensation?
Work-related accidents are far more important than many business owners realize. Back in 2019, there were 5,147 US employees that passed away due to an injury or illness that they suffered from work.
Fortunately, not all work-related injuries are fatal. However, they can still lead to long-term disability, as well as financial setbacks for an employee’s personal life, such as costly medical bills and lost wages (due to not being able to work).
Workers’ compensation is here to save you from all of that. It’s a form of insurance that provides coverage for any and all costs related to a work-related injury. That includes things such as:
- Death benefits
- Long-term disability
- Missed wages from not being able to work
- Medical bills related to the injury
- Injuries from repetitive motion
All of these things can be your employee’s undoing without workers’ comp to help them. Believe it or not, workers’ comp gives you just as much cushion as a business owner.
If you don’t have a policy in place at the time of the injury, then you’ll be legally liable for all of the costs. You’ll also be fined by the state you reside in for not having a workers’ comp policy (which is legally required for all businesses).
What Can We Offer You?
There are many business owners that will only invest in workers’ compensation if their current insurance agency offers it. If not, then they shrug it off and seldom take the time to look elsewhere for coverage.
As we just mentioned, that can lead to hefty fines. Some states will charge you fees that are equal to double what you would’ve been paying on premiums during the time period you didn’t have workers’ comp coverage. You’re looking at a minimum of $1,000.
Fortunately, we have another way! By using National Workman’s Comp Solutions, you can gain access to the lowest workers’ compensation insurance rates in the United States. Lower than your current insurance agency could offer even if they offered workers’ comp.
We can offer you a timely turnaround, ensuring that you get the coverage you need before any work-related injuries can occur on your work floor. We’ll get you a quote the same day you request it.
Our process starts with a quote. From there, you’ll be presented with the best options to get enrolled and then get your hands on the certificate that you require within 24-hours of enrollment. You’ll have more peace of mind within a 1-day window!
What Are the Benefits of Workers’ Comp?
Now that you have seen what workers’ compensation is and how National Workman’s Comp Solutions can offer you the best fit for your situation, there’s only one question remaining: why should I invest in it? See below for several benefits.
1. Peace of Mind
As an employer, you’re always worried about your business operations. As you well know, one mistake can lead to a significant number of injuries, setbacks in operations, and so much more.
By investing in workers’ compensation, you’ll have one less thing to worry about. Now, when your employees are injured, you can guarantee them compensation for their needs.
The employers without workers’ comp are setting their workers up for failure. Give your entire staff the protection that they deserve.
2. Removes You From the Situation
When you invest in workers’ compensation, you’re also giving yourself the opportunity to be removed from the after-effects of a work-related injury.
When an employee wants to pursue compensation, they’ll come to you to file a claim. All you have to do is give them your provider’s information. They will then communicate directly with your provider the rest of the way to get the compensation that they need.
This can help you savor your relationships with your best workers. By removing yourself from this highly emotional situation, you avoid the risk of burning bridges one way or the other.
3. Full Coverage
Unfortunately, not all employees suffer work-related injuries and come out unscaithed. Some lead to long-term disabilities that will affect their ability to work. Others pass away.
Regardless of what occurs as a result of the work-related injury, it’s covered. Workers’ compensation even covers funeral costs, so that the employee’s family isn’t blindsided by unforeseen expenses during an emotional time.
By investing in a workers’ compensation policy now, you are literally protecting your business and staff from any unforeseen accidents in the future. Just make sure that you’re investing with a trusted provider.
Find a Trusted Workers’ Comp Insurance Agency
Now that you have seen an in-depth guide on how to find a workers’ compensation insurance agency, be sure to use this information to your advantage.
Be sure to read this article for more information on what PEO companies are and everything that you need to know about them. To get started, please click the “instant quote” button at the top right of this page and we look forward to assisting you further!