Introducing Evertree Mountain States
Workers’ compensation insurance is a type of insurance employers get to cover employees that may suffer from workplace-related accidents and illnesses. As a state-regulated program, the amount of insurance required by an employer, what kinds of accidents and injuries are covered, and how these issues are dealt with will vary from state to state.
Factors That Affect Workers Comp Requirements
Depending on the state you are insured in, factors like the number of employees you have, where your headquarters are located, and the type of business you have, all are considerations on whether workers’ comp is mandatory or voluntary. It is best to research your state laws regarding requirements when you are seeking to purchase workers’ comp insurance. A professional insurance company can help guide you through the process of acquiring workers’ comp insurance.
Buying Workers’ Comp Insurance When Not Required
Even if your business is not required by law to have workers’ comp, it may work in your favor to have it anyways. If you or one of your employees is injured or becomes ill, medical costs without workers’ comp can often outweigh what you would pay for coverage. In addition to protecting your employees and yourself from accidents, workers’ comp also extends to family members of an employee that suffers a sudden fatality. Legal ramifications are also a concern. Without workers’ comp, employees may be free to pursue legal action which can be a huge expense for any business.
If you are an employer and are in need of workers’ compensation insurance, contact Evertree Mountain States of Arvada, CO to speak to one of our representatives. We will be happy to discuss the various laws that may apply to you regarding this type of coverage. Schedule an appointment with us today and we can help with your insurance needs.