Do you have a small business? Or are you starting up a brand-new business? Maybe you haven’t started yet but are already doing all the planning and stuff to get your idea rolling. Here’s an informative blog for you to know if your business is eligible for a Workers’ Compensation insurance.
Workers’ Compensation, What Is That?
In most states of America, a Workers’ Compensation insurance is mandatory. It is illegal to operate a business and hire employees but not carry a Workers’ Compensation. Majority of the states allow the business owners to purchase this insurance from private insurance companies. Some rely solely on the government-funded Workers’ Compensation, and very few implement it as optional to the employers.
The Workers’ Compensation insurance may vary from state to state. Every state has different requirements in purchasing a Workers’ Compensation. Some require small business owners to buy this coverage if they have at least one employee, but some states require the businesses to start carrying a Workers’ Compensation insurance only if they have at least five employees.
Healthy workers make a healthy business. But we cannot expect them to always be in good shape. One way or another, they will meet an unfavorable situation at work that may result to a serious injury or ailment. And we don’t want that to happen, as much as possible. That is why a responsible employer protects his or her business by protecting the employees. They are the most valuable assets of the business.
Protect your business and employees by purchasing a Workers’ Compensation. This insurance will cover any work-related injuries, illnesses, and deaths. It pays for the medical charges for the employees who encounter an accident while performing their task at work. It also covers the loss of wages when the employee becomes disabled and cannot return to work sooner. If the workplace injury or illness results to the employee’s death, the coverage will also pay for the funeral services and will give financial assistance to the bereaved family.
What Can You Get From Synchronosure®’s Workers’ Compensation?
Here at SynchronoSure®, we provide a Workers’ Compensation plan that is made to fit the needs of the gig economy, emerging industries, and small businesses. If you have a small or start-up business, this product is perfect for you. Our underwriting appetite is more on the businesses with low and moderate hazard risks.
We are willing to underwrite those that are currently in Assigned Risk Plans to provide safety net for employers that are unable to obtain coverage from insurance companies. We offer competitive Employers’ Liability limit.
Our Workers’ Compensation protects the employers from paying out-of-pocket medical bills for their employees’ work-related injuries or illnesses. Even from lawsuits against negligence and other cases at a certain limit. We protect the employees by providing the immediate medical treatment they need from an untimely workplace accident. Also, we cover the lost income of the employees in the event that it will take time for them to recover.
What Are The Types Of Businesses We Cover?
We offer this product to farm and food industries such as:
• farm florist
• farm nursery
• farm poultry
• farm vegetable
• snack food manufacturing
This is available to the common businesses, like:
• clothing retail
• florist store
• silk screen printing
Also for heavy type of businesses, like:
• construction debris removal
• auto repair
• computer repair service
• furniture manufacturing wood assembly
And even to home-service businesses similar to:
• carpet rug cleaning
View our great number of list of eligible businesses for Workers’ Compensation insurance and see if your business can be covered.
Again, your employees are as important as your business assets. Protect them right with Synchronosure®’s Workers’ Compensation.