Business Insurance Coverage for your Entire Company
Business owners are free to choose and purchase the types of business insurance protection that best suit their businesses. However, some types of insurance are not optional: for instance workers’ compensation is a mandatory California business insurance product for an employer who has one employee or more.
Workers’ Compensation Insurance For Your Company
By carrying workers’ compensation insurance in your business you cover your statutory obligations to pay for medical treatment, disability and loss of wages if any of your workers suffers a work-related illness or injury. Most employers go beyond the minimum statutory requirements and take steps to avoid employees being harmed in the workplace by providing high quality protective clothing, excellent training in safe working practices and other measures help to keep employees safe. A program to emphasize workplace safety that results in reduced workers’ compensation claims can lower the cost of workers’ compensation premiums paid by the employer.
Some employers who are sole owners or partners in a business choose to include themselves in the coverage when they purchase workers’ compensation. Suffering an occupational injury that left you unable to work for an extended period could have disastrous financial consequences for you and your business; owners of small businesses might want to consider consulting an insurance agency to ask whether they are eligible to purchase workers’ compensation insurance for themselves and discuss the benefits and costs of purchasing this coverage.
Harrington Insurance can shop the market to find suitable California business insurance solutions for your business. Consult an insurance agent for advice on business or personal insurance matters and assistance in managing your insurance needs.