What is Workers Compensation Insurance?
Workers’ compensation insurance shields your employees and your business from business-related mishaps, sicknesses, and even demise. Essentially every state necessitates that businesses have insurance to take care of clinical expenses and lost wages for workers who are harmed or turn out to be sick at work. On the off chance that you don’t convey workers’ compensation insurance, you could be at risk for these expenses, and be liable to fines or punishments by the state.
Working environment wounds happen even in the most secure of workspaces. Regardless of whether your employee has health care coverage, you are liable for their clinical expenses in the event that they endure a task-related injury or ailment. Furthermore, the laborer is qualified for a level of their ordinary wages during the time that they can’t work because of their physical issue or disease. These expenses are covered by workers’ compensation insurance. In the event that you don’t have insurance, you should pay these expenses using cash on hand.
Why do I need Workers Compensation Insurance?
- Your business is ready to hire your first employee
- Your business has one or more full-time employees
- Your business has one or more part-time employees (in most states)