No matter what industry you’re in, your employees can suffer serious accidental injuries or develop chronic medical conditions, making it impossible to work. Worker’s compensation insurance provides vital protections for employees whose health is impacted by their job duties, including medical care and wage replacement benefits. Here are a few reasons to ask your insurance agency about worker’s compensation coverage.

3 Reasons to Carry Worker’s Compensation Insurance

1. Fulfill State Requirements

Most states require employers to participate in some type of worker’s compensation program. For instance, in Georgia, every business with three or more employees must carry private worker’s comp coverage, available from qualified insurance agencies. Owners of sole proprietorships and partners in an LLC may be exempt, and corporate officers may be able to waive coverage requirements — although, they still count toward the minimum limit. So, if you have three partners in a business and two part-time employees, the workers must be covered by worker’s comp.

2. Protect Your Employees

Even if you’re exempt from state worker’s compensation requirements, it’s still a good idea to purchase coverage. If someone is injured or develops a work-related medical condition, your worker’s compensation coverage will ensure they get the help they need. Not only can this minimize the damage of their accident, but it can also help them quickly return to work.

3. Shield Yourself From Lawsuits

Worker’s compensation is a no-fault system, covering employees even if their own actions caused their injuries. In exchange, they give up the right to sue their employers for damages except in cases of extreme negligence. Without adequate worker’s compensation, you could face expensive liability lawsuits with the potential to put you out of business even if you win.

Since 1931, business owners throughout Gainesville and Dahlonega, GA, have relied on Stringer Insurance Agency to protect them from the unexpected. Their entire team is committed to providing the coverage you need and making it as easy and seamless as possible. Visit their website for more on their worker’s compensation policies, follow their Facebook for more tips and advice, or call (706) 864-3515 to contact the area’s most established insurance agency.