Workers’ compensation plans are designed to provide your business and employees with a layer of protection when an accident happens on the job. But what exactly does this type of policy do for you? Does workers’ comp cover lost wages?
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Workers’ compensation insurance offers a layer of protection for business owners and employees alike. It covers medical expenses and lost wages for the employee who gets hurt on the job, and it helps you navigate lawsuits made against your business.
Whether you’re a small business owner with employees or a contractor who works alone, investing in workers' comp insurance is essential to your safety and financial stability. Without a policy in place, you may find yourself in one of the following scenarios:
Did you know that workers' compensation was the first social insurance program in the US? In the early 1900s, the need was evident for a program such as this. Today, workers' compensation continues to work to protect everyone involved. You may wonder how the program works with payroll and what steps you need to take to ensure proper documentation.
A part of workers' compensation insurance is employers' liability insurance. Most policies for workers' compensation include employer liability insurance or EL. The simple answer is that this insurance protects your company if an employee sues because of an illness or injury at work.
Taking appropriate measures to make sure your staff members are safe on the job is crucial. Without workers' comp insurance and safety protocols in place, you may find it difficult to prevent workplace injuries and associated medical expenses.
Owning a small business is an exciting yet challenging adventure. You get to work for yourself and put all of your effort into your passion, all while creating something to share with the world. If you employ anyone to assist with your company, you likely have various types of insurance required for small businesses. However, if you hire freelance workers' or contractors on the side, your insurance coverage needs may be different, specifically regarding workers’ comp insurance. Here’s everything you need to know about insurance coverage for small businesses and how to keep your contractors safe.
Owning a business comes with a lot of responsibilities, and one of those is ensuring that you and your employees are in safe hands. Doing your part to create a safe work environment can help you and your workers feel comfortable and confident while on the job and can reduce hazardous situations from occurring.
Managing property comes with a slew of responsibilities. From filling units and collecting rent to handling maintenance tasks and repairs around the property, there’s never a dull moment in your role. This may be a job you can handle on your own, but hiring a team of employees can streamline your workflow and keep tenants happy.
Workplace environments are designed to ensure employee safety and security. Still, accidents are inevitable and injury or illness can happen at any second. Having workers’ compensation insurance provides protection for employees and also offers support to the employer from legal issues.
Having in-house employees is beneficial, but hiring independent contractors comes with its own perks. Not only does it offer more flexibility in staffing, but hiring specialty contractors for your small business can lead to better work at a faster pace.
If you are a landscape business owner, then you know that there are many risks associated with the industry. From accidents on the job to property damage - there’s a whole host of things that could go wrong. That's why it is important to have the right insurance in place to protect your business.
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