Is your small business ready to expand and start hiring new employees?

You have your employees’ information uploaded to the payroll, but are they secure in case of an emergency while on the job?

Make sure you learn all about worker’s compensation coverage that covers injuries occurring on company property.

1. Small or Large, Your Business Needs Worker’s Compensation Coverage

One misconception about the worker’s compensation coverage for businesses is that coverage is only necessary for large businesses.

In certain states, you only need one employee to qualify for the right protection under worker’s comp. The laws put into action in the state where you own your business matter.

A notice should be placed somewhere in the presence of the employees to ensure that everyone understands the insurance carrier associated with the business for reference.

The coverage is entirely up to you as the business owner. A business is responsible for handling coverage benefits. If you do not have worker’s compensation coverage set up for your employees, you may face penalties.

2. Business Owners Can Lower Premiums

There are a few ways you can lower worker’s comp premiums for your small business.

After all, having worker’s comp in place at your business may seem like another added expense, but it can save you from so much more hassle down the road.

Protect the lives of your valued employees and the integrity of your business from any potential lawsuits because of injuries an employee suffers while on the job.

These are the best things to do in order to seek lower premiums:

  1. Replacing equipment that is not deemed safe to use
  2. Offer tips on workplace safety in your location
  3. Help injured workers return to work faster
  4. Encourage your employees to make their health a priority by offering wellness programs to promote a better lifestyle

3. Four Types of Benefits

When it comes to worker’s comp, there are four benefits offered to employees who are injured while on the job.

Medical benefits include hospital coverage and doctor’s visits. The coverage will take care of medical care associated with the injuries. If you need prescription drugs or surgery, the medical benefits will cover the cost.

Burial benefits are what cover the costs associated with funerals if a person has passed away because of their injuries on the job. The burial benefits pay the funeral expenses.

Survivor’s benefits are given to the family members who receive the benefits if an employee dies from their injuries. These benefits are necessary to replace lost income.

Income benefits cover the financial income lost due to the injury incurred while on the job. These temporary benefits will cover the amount of money lost from not returning to work due to their physical injuries.

Talk to Our Team

At Top Contractors Insurance Services, we provide our customers with licensed professionals who are ready to assist you with all of your insurance needs.

Whether filing a worker’s comp or auto claim, let us show you the right way to handle rehabilitation costs and lost wages in the California area.

Top Contractors Insurance Services is a full-service contractors insurance agency handling workers compensation, general liability, construction bonds, and auto quotes