Workers' Compensation for Contracting and Construction Businesses

​Workers' compensation insurance includes medical costs and lost wages for work-related accidents, illnesses, and injuries. Every state requires this type of policy for businesses with employees. 

Protects Staff and Employees at Your Contracting Business
There is a high risk and a high possibility of injuries in construction and contracting, especially when physical labor is involved. The presence of risks could pose an immense financial burden on your business. 

For example, if your carpentry employee gets injured by a nail gun, this could lead to a massive medical bill. Workers' compensation insurance can help cover these medical expenses

Workers' compensation can cover an injured employee's:

• Medical costs and emergency room expenses
• Ongoing medical bills, like physical rehabilitation
• Lost wages while the staff member or employee is unable to attend work

Protects Contracting and Construction Business Owners
Employers' liability insurance is part of a workers' compensation policy. This liability protects any roofing companies, general contractors, and other construction businesses when their employee decides to sue the business owner over an accident or injury. 

Employer's liability insurance cover:

• Lawyer's fees
• Court expenses
• Settlements

Remember that you still might have to pay for a costly court battle, even if the lawsuit is baseless and groundless if you are not adequately insured.

Cost of Workers' Compensation for Contracting Businesses
The amount you pay for this coverage is a specific rate based on every $100 of your company's payroll. The premium depends on your workers' type of work, the experience modification rate, and the payroll. 

Other Policies to Consider 
Workers' compensation insurance gives protection to your employees and some of your business. However, it does not cover property damage, company vehicles, or client injury. Here are some other policies to consider: 

• General Liability Insurance
• Builder's Risk Insurance
• Professional Liability Insurance 
• Commercial Auto Insurance 
• Contractor's Tools and Equipment Insurance 

Conclusion 
Looking for the best insurance company could be complicated and confusing. But it is always a good idea to safeguard and protect your contracting and construction business with workers' compensation insurance or a different type of insurance. You should find a company that will help you protect your business. 

At CSIS Insurance Services, Inc., we aim to provide comprehensive insurance policies that make your life easier. We want to help you get the insurance that fits your needs. You can get more information about our products and services by calling our agency at (888) 501-2747. Get your free quote today by CLICKING HERE.