Workers’ compensation insurance is one of the oldest types of insurance in the country. It’s designed to protect your employees, as well as your business. Here are five things you should know about doctor’s workers’ comp insurance.
- Most states mandate workers’ comp coverage, even if you have one employee, you will be required to have this insurance.
- That being said, each state determines the minimum amount of coverage your business will need to carry. Make sure your business is meeting the law where you’re located. If your business has multiple locations across state lines, be careful that your employees are covered where they work.
- Classify your workers correctly to make sure you aren’t paying more than you should. Riskier jobs cost more to insure. Clerical staff do not have as many hazards on the job as a nurse.
- Workers’ comp insurance might help your business avoid a lawsuit. By providing occupational injury compensation, your business may be protected against an employee who wants to sue you for the same injury.
- The safety of your workplace can affect your premiums.
Work with your insurance company to make sure your organization has the most effective coverage. Doctor’s workers’ comp insurance may be mandated, but you do have options to help make your premiums more manageable.