As a business owner, you want to make sure your employees have a safe place to work free from serious hazards. Even if you make safety a priority, however, accidents will still happen. And when they do, you don’t want to be held liable for your employees’ medical expenses and lost wages.
Workers’ compensation provides an injured employee with medical and wage loss benefits if they get into an accident at work. As the employer, you pay a premium to your workers’ compensation insurance provider every month. And if an employee ever needs to file a claim, they do so through this no-fault system.
Workers’ compensation insurance is not optional – almost all businesses in North Carolina with 3 or more employees need it to legally run a business. We are happy to answer any questions you have if you aren’t sure whether this insurance is required for your company. But, as with any insurance policy, having this type of insurance can provide peace of mind while reducing liability and protecting your business.
How much you pay for workers’ compensation insurance will depend on similar businesses in the same state that exhibit similar workplace injury costs and patterns. Your rate is determined by the last few years of loss costs businesses within your same industry incurred.
We want to make sure you get the best deal on workers’ compensation insurance while still adequately protecting your business’ operations and your most valuable asset – your employees. For more information about what this type of insurance does and why it is so important, get in touch with us today.