Workers Compensation

Workers Comp: A Safety Net for Your Employees & Business 

Workers Compensation insurance is required for most employers, even if their employees are family members.

This coverage helps pay for medical care, recovery costs, and a portion of lost wages if an employee is injured or becomes ill because of their job. It can also help cover funeral expenses in the event of a work-related loss.

Workplace injuries can happen in many ways, such as slips and falls, lifting, repetitive motion, vehicle accidents, or exposure to harmful substances. Some industries, such as construction, manufacturing, and healthcare, may see these injuries more often due to the nature of the work.

Workers Comp helps support your employees as they recover while also helping protect your business from the financial impact of workplace injuries.
 
Getting a Grip on Workers Comp Costs

The cost of Workers Compensation depends on your industry, how many employees you have, the type of work your employees do, your payroll, and claims history. Be sure your employees are classified correctly. A salesperson, for example, is classified differently than a person working with equipment on the factory floor. This will impact the cost of your coverage.

Since your claims history, including how it compares to other businesses in your industry sector, is an important factor in determining your premium, preventing injuries and accidents is key in keeping your insurance costs down. Here are some of the things you should consider:
 

Having strong hiring practices and screening processes. Businesses with better hiring and onboarding programs tend to have a better Workers Comp experience. Check the MVRs of drivers and perform employee background checks and drug tests. Be sure to follow state and federal laws when it comes to hiring and screening procedures.
 

Taking a serious approach to safety. Putting safety first really pays off for companies. You’ll not only have healthier and more productive workers, you’ll also reduce the odds of having workplace accidents and injuries. If your operation requires employees to put on protective eyewear like goggles or any other type of safety equipment, be sure they do so. If safety guards should be used on certain equipment, make sure this is done – even if it means the job won’t get done as fast.
 

Implementing a no texting while driving policy. Employees using company vehicles or their own cars while on company business should sign off on a hands-free driving policy. Reward employees for safe driving. This can be in the form of a cash bonus or time off.