Did you know that worker’s compensation insurance is mandatory for employers in most states? While it may seem like just another expense to add to your list, this essential coverage is hugely beneficial for small business owners and their employees. Whether you have five employees or 500, worker’s comp insurance provides an extra layer of protection that will kick in when your employees are injured or fall ill following a work-related accident. It works to cover everything from slips and falls to carpal tunnel syndrome complaints and more. Keep reading to learn more about worker’s compensation insurance and how you can save on this crucial business coverage by working with our independent agents.
How Can My Company Save on Worker’s Comp Insurance?
In Wisconsin, any business that has more than three employees must carry worker’s comp coverage. Aside from working to maintain a safe workplace, investing in comprehensive coverage is the best way to ensure that you don’t end up paying out-of-pocket when an employee is injured on the job. Every employer wants their workers to be happy, healthy, and safe while they’re on the clock. And the best way to avoid expensive medical payments or legal fees following an accident is with worker’s compensation insurance. But how can you save on your premium?
Choose an Independent Insurance Agent
What’s the best way to ensure that you’re getting the most comprehensive coverage at an affordable price? Working with an insurance agent that represents multiple providers is a great place to start. Unlike captive agents, independent insurance agencies often represent anywhere from 3 to 8 different companies. This gives you more options when it comes to your worker’s comp policy and helps to make sure that you’re getting the right level of coverage to meet your business needs. Additionally, an independent agent is there to answer your questions, help guide you through the claims process, and will periodically check your policy for new discounts.
Focus on Creating a Safe Workplace
While it’s true that certain companies will face a higher risk of workplace accidents than others, there are steps employers can take to make their job sites safer. If you work to cultivate a culture of “safety first” in your workplace, you’re likely to improve morale and avoid numerous worker’s compensation claims each year.
Get the ball rolling by training all new employees on essential safety knowledge for their role within the company and general safety guidelines. Form there, it’s essential to keep up with annual safety training for all employees. Regular safety checks throughout the days or weeks can also be beneficial in reducing accidents and injuries.
Lastly, you’ll need to implement an injury procedure that is designed to handle any injuries before they worsen quickly. Assigning the role of a safety team member to individual employees like shift leads, supervisors, and managers can help the process run smoothly and prevent additional injuries. This also works to reassure your employees that there are safety captains in place and a plan of action if they were ever to become injured on the job.
Contact River City Insurance Agency Today
Interested in learning more about the benefits of investing in total insurance protection for your small business? With the help of our knowledgeable independent agents, you can save big on worker’s compensation coverage that will protect your employees and your bottom line. Give us a call at (608) 847-3633 or contact us today for more information and be sure to request a worker’s comp insurance quote.