Workers Compensation Insurance - A Guide for California Small Business Owners
Guide for California Small Business Owners
Workers compensation insurance benefits are required by California’s Labor Code 3700. The coverage has a lot to offer small business owners. Let’s take a look.
The Question is Not If, but when?
The world of business for small businesses owners is demanding and the odds of an employee becoming ill or getting injured on the job are significant. Failing to provide legally mandated workers compensation insurance will cost you big money if an employee becomes injured or killed while on the clock in California. You’ll be liable for their medical bills, lost wages, and more.
What Does Small Business Workers Compensation Insurance Cover?
Laws vary from state to state – to a certain degree – but most states, including California, require coverage for the following types of injuries:
· Medical Treatments
· Rehabilitation Services
· Lost Wages (A portion of the injured employee’s regular salary)
· Employer Liability Insurance (provides protection for your business if the injured employee files a suit against your business.)
Workers comp insurance coverage only extends to injuries and illnesses received while performing tasks related to the job. It may not have to occur on business property to be covered, but the injury must occur while the employee is working on behalf of the business in order to be covered.
What Kinds of Businesses Need Workers Compensation Insurance?
Businesses and professionals across all industries can benefit from workers compensation insurance. This includes many different businesses, including:
· Law Firms
· Deli, Doughnut, Coffee, and Sandwich Shops Medical Practices
· Dry Cleaners
· Automotive Repair
· Eyewear and Hearing Aids
· Retail Stores
· Gas Stations
· Hair Salons
· Hotels and Motels
· Restaurants, Bars, Pubs, Wineries, and Breweries
If you have employees, people who work for you, you need this coverage. Not only to protect yourself, but also to protect the people who work for you.
Unintended Benefits of Workers Compensation Coverage
One way to look at workers comp insurance is as an employee benefit. Employees feel the company’s appreciation of them knowing that they are covered for any injury that may occur as a result of doing their jobs. There is personal security knowing that your employer has access to a high quality Medical Provider Network. This employee benefit goes a long way towards fostering loyalty, engagement, productivity and employee retention.
Workers Compensation Does Not Have To Be Expensive
Getting the best value for your hard-earned dollar is always important to small business owners. Besides securing an affordable workers comp insurance policy from a reputable, A+ rated insurance company, owners can save premium dollars by making a concentrated effort to ensure the following procedures are in place and part of their business’s operating culture.
· Maintain workplace safety records
· Provide regular safety training to increase safety awareness and to prevent injuries.
· Work towards a loss-free workplace. The less claims you have, the lower you premium will be.
Workers compensation insurance helps to protect the most valuable assets your business has – the men and women who make your business successful. Providing the best workers’ compensation insurance you can afford will always pay dividends.
META TITLE: Workers Compensation for California Small Business
META DESCRIPTION: Get Workers Comp for your California small business. It is mandatory if you have one or more employees.
KEYWORD REPORT: 8 Small Business, 10 California