In a highly litigative society, businesses need to cover all their bases. Getting workers’ compensation in Phoenix is one way to make that happen. If you’re thinking about getting workers’ compensation insurance, here are a few of the essentials you’ll need to know.

What is it?

A workers’ compensation policy protects your business as well as your employees if one of your workers end up injured during a job or sick.

What Does it Include?

Workers’ compensation can cover the costs of medical expenses and lost wages. In case the employee sustains injuries that lead to life-long disability, then the policy will cover that as well. Death benefits are also included. It can also include the employer’s legal expenses if the employee decides to file for a lawsuit for the accident or injury.

Do I Need One?

While there are different state regulations that govern workers’ compensation law, one fact remains the same: most—if not all—clients require that companies insure their employees. If you want to get more clients, you need to earn their trust. Having insured employees contributes to that. Building a company from the ground up often means competing with well-established companies in the field. Clients will likely weigh the credentials and qualifications of your organization. Having insured employees can be a factor in their hiring decision.

How Can it Help My Company?

A workers’ comp prevents lawsuits. Accidents happen, no matter how careful you or your employees are. When they do, knowing that you have insurance policies in place to protect your company means you won’t need to worry about your business closing down with a single lawsuit.

Which One is Best for My Company?

There is no right answer to that question. But evaluating the policies of each organization can help. Find one that provides you with the coverage you want for your employees. Discuss the terms and conditions of the policies. What are the limitations? What expenses will it cover?

How Do I Choose a Company?

It pays to do of research about the firm, especially regarding its claim process. You don’t want to pick an insurance provider that makes the claim process harder and complicated for the policyholders. Pick one that ensures a smooth and stress-free process.

Learn more about your options. For workers’ compensation in Phoenix, reach out to Capital Insurance Services.