Keeping your employees safe while they’re in the office and on the job is all part of running a small business.
Fortunately, there are a number of insurance options that can help you protect your employees and your business.
Here are just a few types of injury insurance your small business should consider:
General Liability Coverage
With a growing number of lawsuits against small businesses taking place, it’s more important than ever to protect your business.
General liability coverage doesn’t necessarily protect your employees, but rather your business. However, the two go hand-in-hand.
Injury lawsuits can end up costing employers a great deal of money, which is something most small business owners simply don’t have. By protecting your business from a lawsuit, you’ll be able to stay in business and keep your staff employed as well.
General liability insurance does cover personal injury and negligence, which directly benefits you and your employees.
In addition, general liability also covers libel, slander, faulty products, property damage, and a number of other claims.
Workers Compensation Insurance
No matter how safe your workplace is, accidents can and will happen. That’s where workers compensation insurance comes into play.
With workers comp, you’re required to pay for the insurance plan, but your business is protected if any work-related injuries occur.
Workers comp is a small price to pay considering it covers your employees’ medical expenses, rehab costs, and lost wages.
As the article, “Who can you talk to about your personal injury claim?” looks at, an employee injury or injuries outside the office (see more below) could impact your small business as well, especially if the worker has to miss time in the office. Make sure you have a plan in place should such an event or events happen.
Commercial Auto Insurance
Protecting your employees outside the office is just as important as when they are on the property.
If your employees drive a company car or use a company vehicle for any reason, you need to have commercial auto insurance.
Most commercial auto insurance plans cover injury costs as well as damages to your vehicle and other vehicles.
Whether you have one delivery truck or a fleet of vans, commercial auto insurance coverage helps protect your company vehicles and the employees who drive them.
Other Types of Insurance
Personal injuries and auto accidents aside, there are types of insurance your small business can offer its employees.
Health insurance is a great place to start.
Although you may not be required to provide health insurance to your employees depending on the size of your business and the full-time status of your workers, there are a number of different employee health insurance options available.
Life insurance is another option you can provide employees.
Most life insurance plans require that both the business owner and employer contribute, so it’s important to make sure it’s in your budget.
Although life insurance is an added cost for your business, it helps create employee loyalty, which is a major benefit.
Maintain a Safe Workplace
One of the best ways to watch out for your employees is by maintaining a safe workplace.
To prevent injuries and accidents, make sure all walkways and hallways in the office are free of obstacles and ensure all building safety requirements are up to code.
Likewise, if an accident does take place, it’s important to have the proper protocol in place. This includes contacting emergency responders if the injury is severe as well as documenting the accident for insurance purposes.
If you want to put your employees’ safety and well-being first, then keep the insurance pointers above in mind.
About the Author: Adam Groff is a freelance writer and creator of content. He writes on a variety of topics including small business insurance and workplace safety.