Why Workers Compensation is So Important

Workers Compensation

As a business owner, you must carry workers’ compensation insurance even if your business does not deal with hazardous activities or materials. It is essential for the success of your company.

Workers’ compensation is a type of insurance policy that provides your workers with the necessary protection from the effects of injuries in the workplace. While this policy may seem to be for the benefit of your workers, it can actually benefit your business as well.

Workers’ Compensation Insurance in a Nutshell

To understand why this insurance is a must for any business owner, here are some benefits it provides for all parties involved: 

Protects workers – This is the primary reason why workers’ comp insurance exists. It protects the workers and their families when an employee suffers an injury at work and cannot perform his or her duties for a period of time. Whatever the reason may be for the injury, this policy makes life better for the worker and their the worker's family members.

Workers’ comp will cover the medical expenses and other costs that surface when an employee misses time at work because of an injury sustained at work. This can include lost wages for the time the worker is unable to work, cost of rehabilitation, cost of retraining, and other expenses.

Protects companies – Aside from protecting workers, this insurance policy also protects your business. When you protect your employees, you end up protecting your company at the same time. You prevent the possibility of lawsuits because you are providing relief and income for your workers after accidents happen.

Not Mandatory But Highly Recommended

Workers compensation insurance is not mandatory for private companies in Texas, but lots of companies still provide this for their workers. That is because businesses can see the benefits for all parties involved. This policy is one that companies should always have alongside commercial liability insurance, business insurance, and commercial property insurance. The company to trust with all of these in Texas is Quote Commercial.

To find out more about workers compensation and all the other insurance policies your business may need, don’t hesitate to get in touch with us at 844-331-7076 today.