If you own or run a business , there is no question that your employees are your most valuable asset. One of the most important components of any business\u2019s insurance coverage is its workers\u2019 compensation policy, which nearly every business is required by law to carry. Workers\u2019 compensation protects both you and your employees in multiple important ways, and making sure you have the right coverage for your unique business is paramount. Fortunately, the dedicated insurance professionals at Vaultari Insurance and Risk Services are well versed in all things workers\u2019 comp insurance and are committed to helping you find the workers\u2019 comp coverage you need.<\/p>\n
It\u2019s a fact of life and work that employees can be injured on the job \u2013 and some industries are far more prone to such accidents than are others. Your workers\u2019 comp coverage protects you \u2013 as an employer \u2013 from liability if one of your employees is injured on the job (or while carrying out a task for your company). This policy also, however, will cover your injured employee\u2019s medical costs (that are directly related to the injury) and will reimburse said employee\u2019s lost wages while he or she is out of work recovering. If your business has employees in more than one state, you\u2019ll also need to take this into consideration when purchasing coverage. All told, there\u2019s a lot to consider.<\/p>\n
Whether you\u2019re just starting a business or have been doing this for a while now, you need workers\u2019 comp coverage that works. Workers\u2019 compensation insurance is nothing if not complicated, but the following two basic metrics regarding your business\u2019s claims experience are key:<\/p>\n
Your current workers\u2019 compensation purchase will be based on the numbers from the three oldest years (out of the previous four years of business). This means that, if you\u2019re looking for coverage in 2020, your policy will address your claims experience from 2016, 2017, and 2018 (assuming you have been in business that long). Many business owners assume that all workers\u2019 compensation coverage is the same and, therefore, don\u2019t put any effort into researching their options, but this notion is misguided. At Vaultari Insurance and Risk Services, we pride ourselves on addressing each of our client\u2019s unique workers\u2019 compensation needs with a critical eye toward providing robust individualized coverage within a reasonable price range.<\/p>\n
Not all workers\u2019 compensation insurance providers are created equal \u2013 and neither are all workers\u2019 comp policies. That\u2019s why we, at Vaultari Insurance and Risk Services, address each of the following primary elements of workers\u2019 compensation through the lens of our commitment to excellent customer service and to superior insurance products:<\/p>\n
The Management of Your Claims \u2013 Claims management is obviously integral to every workers\u2019 comp policy, and when claims management is thorough, effective, and efficient, it helps to keep your claim expenses low and your insurance expenses manageable. Any glitch in your claims management process can cost you money in both the short and the long run, but the knowledgeable commercial insurance professionals at Vaultari Insurance and Risk Services are committed to working closely with you to help ensure that your claims management goes smoothly every time. Because no two businesses and no two claims are ever exactly alike, having a claims management process in place that aligns with your line of work and with your unique approach to business can make a profound difference.<\/p>\n
The Appropriate Classification of Your Workforce \u2013 Using the appropriate job classification for your employees is essential. Purchasing the coverage you need is the only way to effectively manage your risk, and both underpaying and overpaying due to an incorrect classification can end up being very costly. A skilled commercial insurance broker at Vaultari Insurance and Risk Services who has considerable experience in these matters will strive to ensure that your workers\u2019 comp policy has got you covered.<\/p>\n
The dedicated insurance professionals at Vaultari Insurance and Risk Services understand exactly how important it is to purchase workers\u2019 comp insurance that protects both your business and your employees \u2013 at a price you can afford. We’ll painstakingly go over your workers\u2019 comp insurance needs with you, and will help you find coverage that takes your business, the type of work involved, the level of risk involved, and your employees into careful consideration.<\/p>\n","protected":false},"excerpt":{"rendered":"
Workers\u2019 Comp Insurance If you own or run a business , there is no question that your employees are your most valuable asset. One of the most important components of any business\u2019s insurance coverage is its workers\u2019 compensation policy, which nearly every business is required by law to carry. Workers\u2019 compensation protects both you and […]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"yoast_head":"\n