How to Know if You Should Get Workers’ Compensation Insurance

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 Alliance Insurance Services 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.

Buying a new home? It’s time to get home insurance

Buying a new home can be an exciting and stressful experience. At Alliance Insurance Services, we are proud to serve the home insurance needs of the Arvada, CO area.  Our team consists of professional insurance agents who are here to help you navigate the sometimes confusing process of selecting the right insurance for your family’s needs.  If you are in the process of purchasing a home, it’s time to learn more about your insurance options. 

Take a look at your insurance options before you buy your home

Your lender will likely have a list of requirements for your home insurance policy and will make sure that you have an appropriate policy in place prior to closing. The days and weeks before closing on a new home can be rushed and hectic as there are a lot of steps that need to be completed. We suggest that you take the time now to review your policy options so that you aren’t making a rushed decision at the last minute.

It is important that your policy provides the coverage that your family needs and is at the appropriate level. These determinations may take some time so it’s always a good idea to begin the process sooner rather than later. Sit down with a professional, local agent who understands the state requirements as well as the standards put in place by lenders. Local agents are also a great asset if you ever need to file a claim as they will be there to walk you through the process. Owning a home is a big part of the American Dream!

Is it time for a new home insurance policy? Call or stop by Alliance Insurance Services and learn more about home insurance options in the Arvada, CO area.