To put it simply: probably. In most states, workers’ compensation is mandatory. The laws require you hold these policies in order to eliminate the need for litigation. Employees who become ill or get injured on the job will be compensated for their medical expenses and time off due to their injuries. In return for the coverage, they forfeit the right to file lawsuits against your business.

In most US states, it’s mandatory for business owners to have a workers’ compensation insurance policy. However, even where it’s not required by law, there are several reasons why you may still want to buy workers’ comp for your business:

  • The cost of the workers’ comp insurance premium might be a significant addition to your budget, but this cost is probably far less significant than paying for medical treatment if your employees are injured on the job.
  • It is your responsibility to keep your employees safe on the job. But sometimes, you can’t prevent accidents—and that’s where workers’ comp insurance comes into play. If your employee is injured on the job, they can claim medical benefits and lost wages through the workers’ comp policy.
  • Workers’ compensation also helps protect your small business. When a claim is made through the policy, the employee gives up the right to sue your business or file additional claims with respect to that specific injury or illness. This helps protect your business from tedious legal proceedings that can prove costly and also decrease your business’ productivity.

If understanding workers’ compensation insurance seems overwhelming, you’re not alone. CoverEase can help make workers’ compensation easy and awesome. We’ve taken the guesswork out of the process and we’re passionate about providing workers’ compensation insurance for all size businesses across the country.

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