Many small business owners run their companies without benefits like workers comp. While this may benefit a company with only a few employees, it is highly recommended that business owners invest in workers’ comp insurance.
If you are a small business owner, keep the following tips for workers comp in mind:
It’s the Law
If your small business has more than 2 – 3 employees, you’re likely required by law to offer workers comp in Bradenton, FL. These laws are in place to protect both the employer and employee in the event that an employee is injured or gets sick on the job. Without workers comp, your company may be forced into bankruptcy after settling a lawsuit by an employee.
It Doesn’t Cover Everything
While it’s important to know the benefit of having workers comp, business owners should also understand what isn’t covered under workers’ comp.
This insurance won’t cover any injury that is self-inflicted or occurs outside of the job. Your business has to be liable for the injury for the employee to qualify for a worker’s comp case.
Protect Your Employees
During a situation where an employee is compromised on the job, the relationship between the employer and their staff can get complicated. Having a worker’s compensation will help protect your relationship with your company and your employees.
Without worker’s comp insurance, your employee will more than likely have to take your business to court. This can damage your professional relationship with your workers. Protect Your employees and your company by offering workers comp insurance.
Learn more about workers comp from Business Name website domain.
