Although workers compensation isn’t required in every state for every company, it is recommended your business has a policy in place. These solutions are intended to safeguard your business from overwhelming medical expenses, protect you from being sued, and defend you from paying immense damages that could potentially bankrupt your business. Implementing Commercial Insurance Orlando FL will better protect your business and ensure its success. Here are a couple myths about workers compensation that need to be debunked.
- I Don’t Need Workers Comp- Regardless if you have one or fifty employees, injury on the job is always a probability. Property Casualty 360 reminds you that if the employee feels the company was negligent in any way, your business could be sued for large sums of damages.
- My Employees Won’t Sue- It’s always a possibility that your employees could sue to cover medical expenses and fees if a workers compensation policy wasn’t in place. Never say never!
- I Can Pay Out of Pocket Expenses for Injury- Biz Journals states that the average cost of a workers compensation claim is $65,000. If you’re like most small business owners, this number seems a bit unfeasible. However, a workers compensation policy would help drastically reduce the cost as well as provide productivity coverage.
- My Workplace is Safe- It is nearly impossible to guarantee all workers will be safe each and every day. As the saying goes, accidents happen. Protecting your business against even the smallest claims is vital.
- Medical Expenses in Workers Comp are Too Pricey- Although inflation is inevitable in our economy, there have been laws and regulations put into place to regulate the costs.
At Newman Crane, we are expert at providing Orlando Workers Compensation policies to local businesses. Whether your company is a small business or a corporation, we can help customize a plan that’s best suited for your needs. For more information on our offerings, contact one of our specialists today at (407) 859-3691.