If you’re a business with multiple employees, it is your job to take care of those employees it the case of an emergency at work. Accidents happen, and even companies that don’t involve a lot of hazards, like those in the construction industry, should have workers compensation insurance to cover employees who get injured on the job. Workers compensation is legally required in many states, so check your state laws to see if you need it. If not, here’s some reasons why workers comp insurance is a worthy investment.
Protect Yourself From Lawsuits
The biggest reason for a company to invest in insurance is to avoid employees who might hire workers compensation lawyers Oregon. Workers compensation insurance protects your business from being sued after an accident. Mainly, this is because an employee who suffers an injury at work is covered; their medical bills and all costs associated with the injury are paid for by insurance, so you don’t need to worry about a disgruntled employee suing you over negligent work practices.
Protect Your Employees From Work Hazards
As a good business owner, you want to create a safe space for workers. Unfortunately, this doesn’t always keep employees from getting hurt. By having workers compensation, you are ensuring that your employees are well taken care of and that they won’t be in a bind if they get injured. Most insurance policies include lost wages, meaning that an employee won’t have to worry about how to pay the bills while they are away from work, and they’ll be more than thrilled to come back to work when they are able again.
Create Good Company Standards
Benefits are a major part of any good job, but they are quickly disappearing from common company investments. An employee who knows that you have taken out workers comp is more likely to view your business in good standing. Providing a service like workers comp builds your credibility that can attract more potential employees.