Massachusetts insurance brokers

Why Your Business Needs Workers’ Compensation Insurance

Did you ever ask yourself why workers’ compensation insurance is so important for your business? Massachusetts insurance brokers know that having workers’ comp is crucial, and here’s why.

1. It Is a Legal Requirement

If you employ people, you may already know that employers are required to provide workers’ compensation insurance for their employees. However, if you’re just starting out as a business owner, be advised that workers’ comp is a legal requirement and you’re not allowed to go without it.

2. It Pays for Employees’ Expenses

No matter if you’re the owner of a high-risk business or not, accidents that lead to injury, sickness or death can happen. Workers’ compensation insurance pays for missed wages, medical expenses and rehabilitation expenses of an employee who got injured on the job. Furthermore, should one of your workers die, it also pays a death benefit to the family of the said employee. These expenses can add up very quickly, which is why you need to protect yourself with the right insurance.

3. It Pays for Legal Expenses

One of your employees may very well claim that you were responsible for his or her injury. In this case, a lawsuit could be heading your way. Defense costs are nothing for the faint-hearted and could harm your business financially and even ruin it. Workers’ compensation insurance pays for the legal expenses that result from a lawsuit against you.

Don’t risk the well-being of your business. Massachusetts insurance brokers are there to get you the coverage you need to protect yourself and your business.