workers' compensation insurance

3 Tips for Making the Most of a Workers’ Compensation Policy

If you own a business and have employees, you may be required to provide them with workers compensation, which provides them with wages if they are injured because of their work with your company. Check out these tips for the best workers’ compensation insurance in Los Angeles.

Understand What You Must Provide

In the state of California, every business that has at least one employee must provide a workers’ compensation policy. California Labor Code Section 3351 can help you decide who is considered an employee so that you know whether you need the coverage or not.

Create a Safety Plan

One way to save money on your workers’ compensation plan is to do your best to ensure the safety of you and your employees. Create safety plans for any and all part of your business, provide ongoing training and create an open-door policy so that employees can ask questions or come to you with concerns if they have them.

Review Your Policy Regularly

Review your compensation policy at least once per year, making sure to tell your insurance agent if any part of your business operation has changed. These changes might affect your policy. Doing this may even help you to save money.

No matter what, don’t skip purchasing workers’ compensation insurance in Los Angeles. Doing so could mean big fines or even worse for your company.