When you own a business in Illinois, you are required to have workers’ compensation insurance if you have any number of employees. That means that it’s mandated by law that virtually every business with any number of employees has to have this coverage in place. This is true even if your employee or employees are only part-time. Even if it weren’t required for you to have this coverage, you would still need it to keep your business protected. When you need workers’ comp insurance in Kewanee, IL, call us at 1 Truck Insurance Services LLC to find out more.
Financial Protection
When an employee has an accident while working or comes down with an illness that’s related to their work, they will have medical bills that someone has to pay. If you don’t have workers’ compensation insurance, that someone will be your business. A serious accident could easily bankrupt a small business. When you have this insurance in place, the policy is responsible for paying those bills. It’s important to have this coverage as soon as you hire your first employee so that you’re always protected against the huge bills that can come from serious accidents and illnesses.
Lawsuit Protection
Another way that workers’ compensation insurance saves your business money is by making it unnecessary for your business to be sued after an employee has been injured in an accident or gotten sick. While it can’t protect you against all lawsuits, it does make lawsuits much less likely. If there’s a lawsuit over the accident, it’s between the insurance company and the employee because the insurance company is the party responsible.
Get Workers’ Compensation Insurance
If you own a business that is about to hire employees, it’s time to get this insurance. Call us at 1 Truck Insurance Services LLC in Kewanee, IL.
