Your crew is your most valuable resource as a business owner. However, what occurs if a worker is injured at work? Potential litigation, missed income, and medical expenses can seriously jeopardize your company. Workers’ compensation insurance is therefore essential for safeguarding both your workforce and your financial interests.
Workers’ Compensation Insurance: What is it?
Workers’ compensation insurance, sometimes known as “worker’s comp,” offers medical benefits and salary replacement to workers who are hurt on the job or fall ill. Employees usually forfeit their right to sue their employer for carelessness in exchange.
How Workers’ Compensation Benefits Your Company
Workers’ compensation benefits you in the following ways:
Covers Health Care Costs
helps cover medical bills associated with a work-related illness or injury, including doctor visits, hospital stays, operations, rehabilitation, and prescription drugs.
Takes the Place of Lost Wages
Workers’ compensation helps compensate a percentage of an employee’s lost income if they need time off to recover.
Prevents Legal Action
Generally speaking, having workers’ compensation shields you from being sued by an injured worker, which can save you thousands of dollars in legal fees.
- Workers’ Compensation Insurance: Who Needs It?
- Contractors
- Owners of retail businesses
- Dining establishments
- Auto repair shops
- Medical professionals
- Businesses that rely on services and real estate
- Basically, you need it if you have workers.
Use OKC Insurance Brokers to Obtain Coverage
We at OKC Insurance Brokers make it simple to safeguard your employees and company. To get you the best price and coverage for your industry, we will compare prices from several providers.
Get a free quotation on workers’ compensation insurance from us right now to keep your company secure, compliant, and insured.
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