As a business owner, you do everything you can to protect your employees and company from potential dangers, but if you do not have workers Compensation Insurance you are assuming an enormous risk that could likely put you out of business. Most business owners understand that workers compensation is important, but did you know that if you have employees, it is required by law for most businesses to have coverage?
Workers compensation insurance is a type of insurance coverage that protects your employees in case of injury or disease during the course of employment. Policies can provide coverage for:
- Medical expenses
- Lost income/wages
- Rehabilitation costs
- Death benefits
For anyone who is classified as an employee, it is required by law to provide them with Workers Compensation coverage. If you do not offer it, you can be fined each day that you do not have it and face a felony charge with a mandatory prison sentence. Termination of an employee who is injured while working and/or who files a workers compensation claim is also illegal.
Having Workers Compensation Coverage can save you and your business from costly lawsuits and employee issues. Workers Compensation Insurance protects your business AND your employees, who are often times a huge part of the framework of a company. New Horizon Insurance Services can provide you with a coverage program that is specifically tailored to meet your needs. We can also provide you with a free workers compensation insurance quote. We have access to dozens of different companies and markets that make it easy to find you the most competitive price for your specific type of business. You'll be surprised at how much your business can save by choosing to place your policy with New Horizon Insurance Services; Contact us today!