Most states in America require every employer to invest in workers’ compensation insurance. You may think you have put some measures to prevent injuries, but accidents like falls or slips can still happen. The aftermath can result in costly illnesses and injuries that could cost your business an arm and a leg.
For your information, employers are liable for any form of work-related accident. Why then wait for such unfortunate occurrences to purchase worker’s compensation insurance? Workers’ compensation insurance is a worthwhile investment for every business owner like any other insurance policy. According to Everett Insurance, here are the reasons why this coverage is worth every penny.
Most states, including Virginia, require every business to provide workers’ compensation insurance for their employees. Failure to have the policy may lead to legal implications like paying fines, losing your business license, etc.
Protect your employees
Your employees are the most valued assets in a business. Therefore, there is a need to protect them with a workers’ compensation policy. This policy pays for medical expenses if an employee gets injured or ill. The plan also pays for lost wages as the employee recovers.
Protect your business
Picture your business being sued for negligence related to work illnesses or injuries. This could cost your business thousands of dollars. Workers’ compensation pays for court cases, judgments, and attorney fees.
Peace of mind
Every business owner should focus on the success and growth of the company instead of worrying about potential lawsuits or costly claims. Workers’ compensation insurance gives you that focus, and you don’t have to think about cases and claims.
Worker’s compensation insurance in Glen Allen, VA
Regardless of your industry, workers’ compensation insurance is a must-have policy for every business owner. Contact Everett Insurance today for an affordable quote if you are in Glen Allen, VA, and its surroundings looking for coverage to suit your business.