Among the many business insurance policies, worker’s compensation cannot go unmentioned. No matter the business type, your employees are prone to injuries. With this in mind, workers’ compensation insurance comes in handy as it compensates for work-related injuries and other illnesses. 

Why should I incur an extra cost in purchasing worker’s comp insurance? Why do I need this coverage, yet I have a safe working environment? If you are not sure about worker’s comp insurance, here are the benefits you accrue when you purchase this coverage from Colling Insurance Services Inc. of Lakewood, CO.

Protects your employees 

The policy ensures that your employees get the appropriate cover in the workplace. The policy cushions against accidents, sickness, and injuries that happen due to work-related issues. The coverage covers:

• Medical expenses
• Death benefits
• Missed wages while the worker is recovering

Protects your business

Any company that values its employees is viewed positively. One sure way to appreciate your employees is getting worker’s comp insurance. This insurance not only boosts the confidence of your employees but cushions your company against lawsuits that employees could file due to work-related injuries. The policy thus protects your business from the financial burden as a result of employees’ work-related incidences. 

It’s mandatory by law

Colorado requires businesses to purchase worker’s compensation insurance. Compliance with this law keeps you off hefty fines and penalties. 

It’s affordable 

Worker’s compensation insurance is essential yet very affordable. While it doesn’t come for free, the cost of this coverage is minute compared to the costs it saves you when the unexpected strikes your business.

Worker’s comp insurance in Lakewood, CO

There you have it, the advantages of having the worker’s comp insurance. If you have a business and employees, better be safe than sorry. Contact us at Colling Insurance Services Inc. for an affordable quote.

In Colorado, there are a lot of different types of commercial insurance that are helpful for businesses of every size, but only two of these insurance types are required. If you need commercial insurance for your business, contact us at Colling Insurance Services, Inc. in Lakewood, CO.

Workers’ Compensation Coverage

When you have any number of employees, even just one, you are required to have workers’ compensation insurance for those employees. If someone does work for your company, the state presumes them to be employees, and workers’ compensation insurance is required for them as well. With this insurance in place, employees who have an accident at work or contract certain illnesses there will have their resulting medical bills paid for by the policy. The policy can also pay them for their wages lost after having an accident or contracting a covered illness. 

Commercial Auto Coverage

If your business owns a car, truck, or other vehicles, the state requires you to have a commercial auto insurance policy on that vehicle. There is a specific minimum amount required for covering the bodily injury liability for a single person who is injured in an accident that is your fault. There is a higher minimum amount required for the bodily injury liability for everyone in the accident. In addition, there is a set minimum required for the property damage liability for the accident. 

Optional Insurance

There are other kinds of policies that you can add to your coverage that can benefit your business. These include insurance types like cyber insurance, business owners’ insurance, professional liability insurance and more. 

Get Your Business Covered

It’s important that your business always has insurance to protect it. There are so many risks to businesses, and the right policies can help. Give us a call at Colling Insurance Services, Inc. in Lakewood, CO to find out more.