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As the employer, you must provide a safe working place you’re your staff. Unfortunately, even with your best efforts, accidents that result in employee injury can happen in any business. In such instances, you will have to compensate the employee for the injury they have endured and the income they will likely lose. This is where workers’ compensation insurance comes in to take the burden of employee compensation off your shoulders.
Whatever business you are in, workers’ compensation insurance is a must-have. If you are based in Boise, ID, you can check out Fuhriman Insurance Agency for your enterprise’s workers’ compensation insurance. Why is workers’ compensation insurance important?
Protects Your Employees
The primary purpose of worker’s compensation insurance is to protect your employee in case of a work-related injury. It protects your employees’ financial future, which might be negatively affected by the high bills accrued treating the injury. In addition to this, it provides employees with sustainable income as they recover from the injury. Moreover, some workplace injuries can lead to loss of quality of life, workers’ compensation insurance provides financial relief to fill the gap.
Protects the Business from Expensive Lawsuits
Without compensation, workers may be forced to sue a business after they sustain an injury at their workplace. Lawsuits are expensive, and the business should avoid them. Besides the legal fees, a judge or jury may award the employee a high compensation that might hurt the business’s financial health.
Good for the Company’s Prosperity
Fuhriman Insurance Agency points out that paying for workers’ compensation insurance premiums is more affordable than paying for the workers’ compensation out of pocket. Moreover, workers are more motivated to give their best at work if they know they are insured against injury. It also improves the brand’s public image, which boosts sales. All of these are good for the company’s prosperity.
Is your Boise, ID business in need of workers’ compensation insurance? Reach out to us for all the help you need.