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The Boise, ID area continues to be one of the fastest-growing parts of the country. Along with this growth, it has become a great place to start and run a business. If you would like to be a business owner here, it is essential that you carefully assess your insurance needs. One necessary type of coverage to get is workers’ compensation insurance. There are various reasons why you should get this coverage.
Cover Medical Expenses for Employees
One of the reasons for having workers comp insurance is that it can cover medical expenses for your employees. This type of insurance is designed to offer support to an employee if they are injured while at work. This can cover medical bills and replace lost wages. This is a valuable benefit to be provided to your team members.
Reduce Liability Risks
With workers’ compensation insurance, you can also reduce your liability risks. If you do not have this coverage and someone is hurt, they are more likely to file suit against the business to receive support. With workers’ comp coverage, you can reduce this risk.
Meet Requirements
Similar to other states, many businesses in Idaho are required by law to get workers’ compensation insurance. If you have employees or contractors on your payroll, you must meet the requirements. If you are not adequately insured, you could face various penalties.
Being a business owner can be a great idea if you want to be your own boss in the Boise, ID area. If you own a business, you should call our team at the Fuhriman Insurance Agency. Our professionals understand the importance of workers’ compensation insurance and your options. We can ensure you choose a plan to meet your business needs.