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As a business owner, you know your employees are vital to the success of your company. While accidents can happen, the right workers’ compensation insurance will help your employees recover should they be injured on the job. The experienced team at Chanler Agency, with locations in Livonia and Geneseo, NY, wants to help you better understand the ins and outs of workers’ compensation. They answer some of the most frequently asked questions about the insurance policy.

FAQs About Workers’ Compensation

1. Am I Required to Have This Insurance?

While other insurance policies may be optional, workers’ compensation is not. You are legally required to purchase this type of insurance if you hire employees to work in exchange for a salary. The policy helps cover a portion of their wages, as well as their medical bills, should they be injured on the job, helping them get back on their feet more quickly.

2. Can I Deduct the Cost of Coverage from Employees’ Paychecks?

Workers' CompensationThe full amount of the premium must be covered by you, the employer. These policies are simply a part of running a business and should be factored into your budget accordingly. However, working with a local insurance agent can help you find a more affordable policy than you might find on your own.

3. Where Can I Buy a Policy?

Your local insurance agency should be able to help you find an appropriate policy. However, make sure you work with an agent who’s licensed and authorized to sell a workers’ compensation policy to ensure you get the best coverage possible.

4. Who Reports an Injury Claim?

If an employee is injured on the job, you’ll need to notify your insurance agent of the event. They’ll help you file the claim and work with your employee to ensure all payments and coverage are provided promptly.

Let the team at Chanler Agency help you find the best workers’ compensation coverage for your growing business. Their dedicated agents will work with you to find the most affordable policies without sacrificing quality of coverage. Visit their website for more information, and speak with an experienced agent by calling (585) 243-5520 for the Geneseo location or (585) 346-3118 for the Livonia office.

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