Worker’s compensation is one of the most important insurances that you, as a business owner, will need to acquire. It protects you and your employees in numerous ways.
Here is how worker’s compensation can help your company:
- Wage protection? This type of insurance will ensure that your employees receive wages if they have to stop working for any reason.
- Medical bills?This insurance can also help your employees pay medical bills when they are injured on the job.
- The right to sue? Many times, you employees will receive this monetary assistance when harmed on the job in exchange for the inability to sue your business.
This is why this type of insurance is vital to every business. It protects your employees, and it protects you. Here are some questions that you need to ask your insurance company about your worker’s compensation insurance:
- What types of incidents are covered?In order to protect your employees, you need to know what types of injuries are covered under your worker’s compensation. Make sure that any high-risk equipment you use is covered. Also, your insurance agent needs to know if your employees will be traveling to a workshop or any other off site location frequently. It is your duty to make sure that your employees are always protected.
- How much coverage will my employees receive? This answer will probably depend on what type of injury your employee sustains and how long they will be unable to work. However, it’s still important to ask this question. You may have to cover any outstanding medical bills yourself if you don’t have enough coverage, and your employees will want to know how much money they will receive to provide for their family while they can’t work.
- What are my state’s requirements? ? Many states have requirements for different insurances. Your insurance agent will know how much worker’s compensation you are required to have, if any, but you shouldn’t settle with getting just enough. Your employees deserve the best protection you can give them.
- Am I required to choose a company doctor? Your insurance company may require you to list a company doctor. This doesn’t mean that your employees have to use the doctor you choose. You just need to make sure that they know what insurance information to give their doctor.
- Will I receive help in court? ? Worker’s compensation is supposed to protect your business from being sued for negligence or injuries on the job. If, however, you are asked to appear in court, it’s important to know whether your insurance company will back you up. Find out what legal assistance, if any, you will be entitled to.
- What is the claims process? This is always important to know. Find out whose responsibility it is to make a claim, who you are supposed to call, when you need to call, what the next step will be, and how long the entire claims process will take. Write this information down and keep it in a safe, easily accessible location.
The professionals at SOGO know that your employees deserved the best protection you can give them. Contact us today if you have any questions about workers compensation.