If a workplace accident takes place, having the right workers'' compensation plan allows your business to make payments and cover any necessary expenses for employees. Maintaining appropriate workers' compensation coverage for your company serves a dual purpose. It provides necessary support for your team and assists in mitigating significant financial impacts that could result from employee injuries.
Workplace injuries can range from car accidents and back injuries to major damage from equipment malfunctions and, in the worst cases, even death. If your business does not offer workers' compensation, serious injuries that occur on the job could lead to an employee suing your company for damages. It is prudent to converse with a knowledgeable representative at Lowry Insurance to explore alternatives that cater to varying business necessities.
Workers' comp provides coverage for employees that become injured or sick from a work-related cause. A policy generally covers the cost of disability benefits, income, ongoing medical costs, and, in the case of death, funeral expenses.
Nearly every state requires all businesses to have workers' compensation insurance for their team - not offering workers' compensation can result in hefty fines for business owners. For independent sole-proprietors, you may be able to opt-out of providing workers' compensation for your own needs. It's best to check on the requirements of your own state before investing in a policy.
Business owners aiming to offer cost-effective workers' compensation coverage for their teams can take advantage of the many years of experience at Lowry Insurance. We strive to find an approach that fits your unique requirements.
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