Each year, thousands are unable to work because of injuries they sustain while employed. To make is possible for these unfortunate individuals to survive extended periods of unemployment, states have mandated workers’ compensation insurance.

1. The Importance of Workers’ Compensation
On the job injuries happen more often than you might
think. Each year, thousands are unable to work because of
injuries they sustain while employed. To make is possible
for these unfortunate individuals to survive extended
periods of unemployment, states have mandated workers’
compensation insurance. Injured employees have the right
to monetary funds through this insurance in order to
weather the storm of their injury. Employers are
responsible for providing this insurance for their
employees. The problem is that workers’ compensation
insurance can be very pricey. During these difficult
financial times, some companies have decided to roll the
dice and go without this insurance. This is a bad idea for a
number of reasons.
Employers are Liable
If an employee is injured on the job, the employer will be held responsible for the injuries. This
means that the employer will have to pay medical bills and sustain them during the period which
they are unable to work. This would be too costly for any company to manage. Providing
workers’ compensation insurance is required by law to help protect employees that receive
injuries. As an employer, you must provide this insurance even though it may cost you. Trying to
find a way around providing this insurance would inevitably turn out more costly.
Caring for Your Employees
The professional machine usually runs better and more efficiently when there is a relationship of
trust fostered between employer and employee. Employees who trust their boss and know that he
or she is looking after their best interests will work harder. Not only will they work harder, but
they will want to improve and progress within the company. One way you can show your
employees that you care about them is by providing them with workers’ compensation insurance.
Although this will cost you some money, it will actually save you in the long-run when you have
better employees and you aren’t paying for their medical expenses out of pocket.
Minimizing Costs
The best way that you can minimize the costs of workers’
compensation insurance is by providing a safe work environment
for your employees. As with any type of insurance, premiums go
up when you have more incidents. If employees keep getting
injured, you may need to step back and re-think the safety
protocols you company has in place. If nobody is getting injured,
then your insurance provider won’t consider you a risky client
and your premiums will be low. Spend a little bit of time and
money to make your work environment safe for everybody.

2. It is Worth It
Providing workers’ compensation insurance to your employees will always be worth it. Not only
is it the ethical thing to do, it will also help you save money in the event of an unfortunate
accident. To find a provider of workers’ compensation insurance near you, simply go online and
search for it. You can find it under any company’s business insurance from Henderson to
Leesburg. Once you have a list of providers, figure out which one best fits your needs and
contact them. Don’t hesitate either, because accidents can happen before you know it!
Photo Credit: John Lillis, Yaniv Golan