If you own a business with employees, workers’ compensation is an important issue for you. Business owners in Farmville, VA can rely on us at Gantt Agency to provide workers’ compensation insurance coverage.
The following are three things you shouldn’t assume about workers’ compensation insurance:
You don’t need workers’ compensation coverage if all your employees are part-time
It’s true that you might not be required by law to have workers’ compensation insurance if your employees are part-time.
However, your employees will inevitably appreciate the fact that you carry this coverage whether they’re part-time or full-time. It’s also important to realize that you’ll find it easier to hire talented employees if you carry workers’ compensation and offer other benefits.
Workers’ compensation insurance isn’t necessary if you have a very small number of employees
You need to pay attention to the regulations in place in your state before assuming that you don’t need workers’ compensation coverage.
Even if you don’t have a huge staff, it’s still financially beneficial to carry coverage. If you forego coverage, you might have to pay the full cost of a workers’ compensation claim out of pocket.
Workers’ compensation insurance is not legally required
Never assume that workers’ compensation insurance is not legally required in your situation without doing the research. You could face severe penalties if you don’t carry workers’ compensation in a situation in which it is required by law.
Contact Us Today
Being properly informed about workers’ compensation is essential to prolong the lifespan and maximize the profitability of your company over the long term. At Gantt Agency, we’re happy to provide a quote for workers’ compensation insurance for your company in Farmville, VA.