Do You Know What Benefits Workers Compensation Offers?
Workers Compensation Benefits Are Vast and If You are a Small Business Owner – You’ll Need to Know Why!
The first thing you need to do as a small business owner, is to figure out whether or not your state requires Workers Compensation. For the State of Texas – workers compensation is NOT required.
That said however, the question then becomes - should you still obtain workers compensation?
Why You Need Workers Compensation
The answer to this is a resounding yes! Workers comp benefits are vast, and this is because it offers a mutual benefit to both employers and employees.
Consider, for example, that without worker’s compensation your employees are not covered if they have any injury caused on the job. In addition, it is estimated that there was approximately 95 billion paid to workers comp carriers last year. Coupled with that is the fact that it is also estimated that there is over 4,000 deaths a year due to work related accidents and illnesses, such as breathing in bad air.
As a whole, YOU need worker’s comp.
How Do You Get Workers Compensation?
Getting workers compensation for your employees is relatively easy, no matter what scope of industry your business falls into. To get it, first determine what type of industry your business resides in. It is also important to consider the following:
- The types of employees you have under you (contractor, for example)
- The type of work that they do (roofing, for instance)
- The number of employees
These are just a part of the information that your insurance agent will need t o know. It is always important to open up a dialogue and voice any concerns that you might have.