Monthly Archives: April 2022

Benefits of Workers Compensation Insurance

Workers’ compensation is a state-mandated type of coverage that provides benefits to employees who suffer work-related illnesses or injuries. It consists of payments required by law to be made to employees who got injured while on the job. Every state has its own workers’ compensation program for employees. Colling Insurance Services Inc. serving clients in Lakewood, CO has prepared a list of benefits of workers’ compensation insurance. 

What Are The Benefits Of Workers’ Compensation Insurance?

Workers’ compensation is beneficial for both employees and employers. Here is a list of its benefits:

  • It covers accidents and other work-related medical issues.  If an accident happens on the job and an employee gets injured, workers’ compensation insurance covers the employee’s medical expenses and bills that can be quite high. 
  • It prevents lawsuits. If an employer provides workers’ compensation benefits, employees are not allowed to bring lawsuits against the employer for job-related injuries. 
  • Financial benefits for employers. By providing workers’ compensation insurance, an employer avoids having to pay fines if an accident happens and an employee gets injured while on duty. One of the main purposes of workers’ compensation is to protect employers from direct lawsuits and eliminate the risk of high fees. 
  • Protection for employees. Workers’ compensation insurance is needed for creating a safer working environment for employees. As a result, a safe environment helps employers save on the costs of workers’ compensation. 

Colling Insurance Services Inc. – Trustworthy Insurance Company in Colorado 

If you are a business owner operating your business in Lakewood, CO or any other nearby town, and you are thinking of getting workers’ compensation insurance to protect your employees and yourself, our insurance company is ready to help you. Feel free to visit our website where you can find more information or give us a call. 

Types of Commercial Insurance You May Want to Consider

If you are running a business, you have a lot to lose if something happens. Not only could you lose your business, but you may also lose your home. Because of this, you need to have enough insurance to cover anything that could happen. 

So, what types of commercial insurance do you need? Here are some of the most common ones. 

General liability. This insurance will protect your business if someone is hurt on your property. It will also protect you if some property is damaged while you are meeting with your clients. Even if you meet with a client at another location, your business could be held liable if your client gets hurt. 

Commercial property.  This insurance will protect your office and everything that you have in it, such as your computer equipment, furniture, and more. 

Business income. This is an optional insurance option, but it is one that you may want to consider. It will help you protect your business if you have to close your doors temporarily. It will help you to pay your bills while your business is shut down. 

Errors and omissions insurance. This is helpful insurance in case you end up making a mistake that could cost your customer money.

Data breach insurance. If you handle sensitive information, you may want to carry data breach insurance. This will cover you if anyone steals your client’s information. 

If you own a business, you are going to need general liability and commercial property insurance. However, you may also want to carry business income and data breach insurance so that you are protected. 

If you want to make sure that your business is fully protected, don’t hesitate to contact us today at Colling Insurance Services Inc. in Lakewood, CO.