Workers’ compensation insurance or “workers’ comp” keeps you and your employee’s safe in the event of an injury in the workplace. Workers’ comp can provide financial aid in common expenses related to a workplace injury or loss such as:
– medical fees
– loss of wages
– training
– survivor benefits
– permanent injury and more.

Workers’ compensation insurance, in most states, is required for a business as soon as an employee is hired. This type of insurance is also beneficial for self-employed workers/sole proprietors for financial protection and potential contract requirements with clients.

Workers’ comp was developed to ensure the financial safety for an employee in the event of an on the job injury. This type of insurance also provides protection for business owners if an accident occurs.

A thorough workers’ compensation insurance plan offered at a business sends a positive message to employees. Having this type of insurance protection in place, lets employees know that their well-being is thought of and cared for in the event of a disaster. We’ve noticed that increase in employee security and give-back, results in a higher employee productivity level.

The most common misconception with workers’ compensation insurance is that it is only needed by business owners with employees. Workers’ comp protects employees and business owners!

We recommend that businesses of all sizes employ a workers’ comp policy even if injury risk level is low such as an office/desk job. As previously mentioned, workers’ compensation insurance can also provide coverage for business owners. This is especially important to employ for business owners in cases that your health insurance plan provider does not supply workplace accident protection.

• We have clients that pay as little as $10 a month with workers’ compensation insurance. Workers’ compensation insurance cost is based on numerous factors:
  – # of employees and Payroll – What are the number of employees at your business? What type of work do they do? What do you spend on payroll?
  – Business Location – Where does your business operate? The state(s) in which you operate your business vastly influences your workers’ comp cost.
  – Risk Level – What’s your business’s claim history? Your record of workplace claims and history will directly affect your workers’ comp policy.