Workers Comp

Do you need Workers Compensation insurance?

A fundamental part of running your business is keeping employees safe. However, if one of your employees does suffer an injury, Workers Compensation coverage provides you and your employees with important protection.

Every organization wants to operate in a safe, secure work environment where employees can perform to the best of their ability while helping your business grow. The reality is no matter how safe we try to be, accidents and illness still happen.

A slip and fall at a restaurant resulting in broken bones, an equipment malfunction at a construction site causing eye injury-it could be any number of things.

How do I know if I have keep Workers Compensation Insurance?

Workers Compensation is a state-mandated insurance program that covers lost wages and medical treatment resulting from an employee’s work-related injury or illness. In most states, work comp insurance is required.

How Much will I pay for Workers Compensation Insurance?

There are certain factors that need to be taken into consideration when looking to get coverage. Some of those factors can be:

◾What type of work your company and the employees do.
◾How many employees.
◾Claims history.
◾Industry that you operate in.

Coverage and price is based on the risk. The higher the risk the more expensive to insure than less risky ones. To make sure prices are as fair as possible, they’re determined by classification.

Each type of work or industry has a unique code that classifies the industry and risk, and helps the insurance carrier determine a suitable rate.

One way to save money on your Workers Comp policy is to make sure you’ve classified every employee correctly. Not everyone in your organization does the same job. We want to classify them based on what they do.

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