Why Every Business Should Invest in Workers Comp Insurance

Imagine how your Pinecrest, FL business would run without employees. Employees are a formidable asset to any given company. Running a business devoid of workers is rough. Since your employees are the most critical component to the survival of your business, you should protect them in every way possible.

You are liable for your worker’s security and safety as an employer. You may be deemed responsible if an employee gets injured or becomes sick while working for your business enterprise. With this in mind, workers’ comp insurance is critical. Ready to protect your employees with worker’s comp insurance? Connect with us at Hamilton Fox & Company Inc. to safeguard your most prized asset. Here are the benefits you accrue from worker’s comp insurance.

Compliance with the law

Florida law mandates that any business venture with two or more workers should carry workers’ comp insurance. This policy helps employees who are recuperating from occupational injuries or illnesses. It also guards employers against civil suits filed by injured or ailing employees.

Protects you against lawsuits

Business owners are aware that litigations can have devastating impacts on their businesses. It can drain business finances, time, and energy. Litigation can also negatively impact the business owner’s relationship with the employees, investors, and clients. Workers’ comp insurance is a paramount safety net against lawsuits.

Safeguarding your business finances

Not many business ventures can survive the brunt of work-related injury costs. Regrettably, one substantial work-related injury can cause unbearable financial ruin to your business. Worker’s comp insurance cushions a business owner from the severe financial burden of paying for employees’ medical care, saving you significant finances and loss of productivity.

Protect your employees

Besides abiding by state-mandated requirements, workers’ comp insurance provides additional benefits for your employees and their families. If your worker cannot work after a work-related injury, this policy will cover the cost of wages during the employee’s recovery period. It also covers the medical care of your employee. 

Purchasing workers’ comp insurance in Pinecrest, FL is a wise move to safeguard your employees and business entity. Please call or visit us at Hamilton Fox & Company Inc. today to buy an affordable workers’ comp insurance policy.