Workers' Compensation Insurance: Why You Need To Have It
Workers' compensation insurance is essential to treat workers fairly in assisted recovery. Engage Insurance has all the details for why workers' compensation insurance is necessary. Our services always have a care in mind, from manual contract jobs to the risk of getting hurt during a delivery run. Check out Engage Insurance for the exact support you need today!
What Is Workers Compensation
Workers' compensation is Insurance that covers medical fees from work-related injuries, including apprentices and trainees. However, the damage must occur as a work-related accident, as the employee's injury outside of work does not validate compensation.
Why You Need To Have It as Soon as You Hire Your First Employee
Workers' compensation insurance for small businesses helps keep employers updated on safety regulations for the benefit of everyone at the workplace. By properly compensating lost wages and medical bills, a company can avoid even steeper future losses from a lawsuit involving an accident. In addition, good workers' compensation plans allow employers to rest easy on having to cough up direct payments in the case of a work-related injury.
What Happens if I Don't Have It
Businesses without workers' compensation insurance are at risk of being fined up to $55,000, or six months imprisonment, from the "Under the Workers Compensation Act of 1987." State laws will vary, Kansas for example, mandates compensation insurance for employers unless the gross annual payroll is $20,000 or less. However, specific agricultural pursuits do not abide by Kansas workers' compensation insurance laws.
Best Practices
A good insurance group is vital for providing you with info on keeping your business protected. Great agents can stay afloat with your changing business practices and how to adjust to changing safety policies to keep your insurance premiums low.
Engage Insurance maintains a focus on having each client have the fairest and most beneficial insurance plans around for their business and employees. We'd love to hear about your business; contact us today and get started!