Protecting yourself and your business is just as important as protecting your employees from injury and illness.

As a business owner, you’ve likely heard about all kinds of insurance over the years. Coverage is pretty much available for every kind of risk that is out there. You’ve got your general liability insurance, commercial vehicle, commercial property, and of course, workers’ compensation insurance. The latter can come as a bit of surprise to new employers, especially when your state requires it. But, what exactly is worker’s compensation and why do you need insurance to cover it? We’re here to give you the basics.

What is worker’s comp?

As an employer, it is your responsibility to take care of your employees. But accidents happen, and sometimes employees get injured. Workers’ compensation that employees who suffer from a job-related injury or illness get the medical care they need, as well as the wages that would be lost during their recovery. Workers’ comp kicks in regardless of whose “fault” it was and in exchange for these benefits, the employee has less ground for a lawsuit.

Why do you need workers’ comp?

It’s important to check whether your state requires workers’ comp insurance. Failure to carry this insurance could lead to a fine by the state, or, even worse, a lawsuit by your employee should they be injured at work. Fees that you would have to pay out-of-pocket, which could put a big dent in your budget—especially for startups.

Workers’ comp will not only protect your employees from jaw-dropping medical bills, but also protect your business from financial downturn. Let the experts make sure you’re covered by contacting Scautub Agency. We serve businesses in Scotia and throughout the surrounding New York area by helping them get the protection they need. Get the right business insurance; call us today.