Workplace accidents happen—keep your business and employees protected with workers compensation coverage.
Are you having trouble finding affordable workers comp insurance for your small business? Southpoint can help you evaluate your coverage, manage losses, and lower your premiums.
Depending on where your business is located, state laws require workers compensation insurance with few exceptions. Regardless of state requirements, as a business owner, it is always a good idea to protect your business. This is especially true if your line of work poses a significant occupational risk to your employees. Employees are much more likely to be injured on a construction site than at a desk.
Workers compensation coverage only applies when an employee’s injury or illness is directly related to their job duties. Common workplace injuries and illnesses include:
- Slip-and-fall accidents
- Repetitive injuries like carpal tunnel syndrome
- Machinery accidents
- Injuries from falling objects
- Strains from overexertion or overuse
- Respiratory issues caused by dust or toxins
When one of these workplace injuries occurs, employees can file a claim and get their medical expenses, rehabilitation costs, and lost wages reimbursed. In some instances, an employee may go one step further by suing your business for negligence, which could turn into a financial headache. Luckily, employers’ liability coverage is usually included in your policy to cover defense costs and settlements.
As a small business owner with more than a few employees, you know you’re required to have workers compensation coverage in your state. But where can you purchase workers compensation insurance, and how will you know if you’re getting a good deal?
Luckily, because coverage is mandated by law, there are regulations in place to guarantee coverage regardless of your business type and risk. Workers compensation insurance costs can vary by insurance carrier, business location, and claims frequency, so it’s best to consult an insurance agent to help you navigate your coverage.
At Southpoint, we want to find you the best deal without sacrificing coverage. We know what our insurance company partners can offer and how to find the best fit for your workplace. Plus, over the past 50 years in business, we’ve learned that the best way to lower your workers compensation premium is by making your workplace a safer place and reducing claims. That’s why our risk management experts offer loss control services to your business. Our goal isn’t just to find you a good deal on your coverage—we want to keep costs low for years to come.
Contact us to learn more about our loss control services and how we can help lower your workers comp coverage costs.