When you own a business, the last thing your employees want to worry about is what would happen if they were to be hurt on the premise. It’s important that they’re still able to provide for their family in case of an accident, and that hospital bills aren’t a burden. At Woods Insurance Service, an independent insurance agency, we want you to have great coverage for your employees so that your business is able to thrive for years to come.
By providing general business insurance, you’ll be able to give your employees peace of mind when working in hazardous situations. You’ll also be able to give options if they become ill while working.
Workers’ compensation provides coverage of medical expenses if an employee were to get hurt on the job. This is especially beneficial to industries that work with heavy equipment, contracting, oil and gas, electrical, and any other generally dangerous jobs. Workers’ comp also helps to cover the cost of wages that an individual loses while recovering from their injury.
Not only does this kind of insurance cover injuries, but it can also help cover the cost of illness. If an employee becomes ill on the job, an insurance policy can help cover the cost of medical treatment, and also cover part of the employee’s wages.
This kind of insurance is required by law in nearly every state, but you should check to make sure that it’s mandatory for your business. Taking chances by not utilizing workers’ comp can leave your business in serious financial trouble if an accident were to happen on your business premises. Employees could file a lawsuit costing your business time and money.
General liability is also an important kind of insurance to consider. This allows you to have coverage and protection that guards against accidents, injuries on the premise, lawsuits filed against you, and even property damage.
If you’re renting your business space, general liability can help cover the cost of damages that occur to your location via fire, natural disaster, and even vandals. Without general liability insurance, you run the risk of losing your livelihood to a lawsuit that you can’t afford.
Professional liability, slightly different than general liability, can help provide coverage for those working in professional services. Some industries that choose to have professional liability include consultants, attorneys, accountants, councilors, and real estate agents, to name but a few.
This kind of insurance offers coverage if a lawsuit is filed against one of these professionals by a client that doesn’t approve of the end result, or doesn’t like the outcome.
As a business, you should also consider commercial auto insurance if you use a company vehicle. This kind of insurance ensures the coverage of your commercial vehicle in case of an accident. It is also beneficial for businesses that use industrial vehicles, a company car to transport clients, and more.
Coverages typically include liability, an uninsured motorist, medical payments, and physical damage to the vehicle.
If you’re looking for general business insurance options, Woods Insurance Service can help you choose the right policy coverage for you. Feel free to contact us today to get more information on specific insurance policies, or to schedule a meeting with one of our insurance specialists.