Your Orlando manufacturers insurance needs to do more than protect your property – it needs to protect your bottom line. But while you’re probably aware you need workers’ compensation coverage to replace an employee’s lost wages, you may be surprised to learn how many additional expenses your business could face, during a claim.
For instance, your business may be held liable for the following expenses:
- In the event of a fatality, your business may be held responsible for providing benefits for the worker’s family.
- If a workplace injury creates a chronic problem, you may have to cover long-term rehabilitation costs.
If your insurance policy doesn’t include workers compensation coverage or only provides minimum protection, your business could easily take the brunt of the financial blow.
Cover Legal Bases
But those aren’t the only situations where coverage can safeguard your business. If a worker files a claim against your company, the legal fees and lost time can quickly impact your fiscal performance. With comprehensive workers’ compensation coverage, however, you won’t have to man your legal defense alone and can often avoid lengthy and costly legal battles.
The Bottom Line
Your Orlando manufacturers insurance policy should do more than protect your equipment or inventory – it should protect your people. By adding workers compensation coverage, you can ensure your workers, as well as your business budget, can recover from workplace accidents as smoothly and cost-effectively as possible.