For many Pennsylvania employers, workers’ compensation insurance can seem like a quagmire. There is a lot of misinformation out there, and depending on your business type, the regulations may vary. In general however, any employer who hires at least one employee, part- or full-time, is required to provide workers’ comp coverage.
At Joyce, Jackman & Bell Insurors, we want to help you, as an employer better understand your insurance needs. Here are three common workers’ comp myths that need debunking:
Myth 1 – I run a safe workplace, or my employees work from home, so they are unlikely to get injured.
Even the safest of workplaces has flaws. Just think, have you ever entered a workplace with one of those “X Number of Days Without An Injury” sign and seen it read 365? Probably not. Between slips, falls and other maladies, you can never be 100% sure that one of your employees won’t be injured while on the job.
Myth 2 – My employees won’t sue me.
In the insurance industry, we never say never. If an injury knocks one of your employees out of commission, and they are not covered by a worker’s comp policy they may feel that they need to sue in order to maintain personal financial stability. At the end of the day, we’ve all got our own best interest in mind - don’t just expect one of your employees to sit back and take one for the team.
Myth 3 – Workers’ comp insurance is too expensive, I’d rather just pay out of pocket.
We understand that you might want to weigh the cost of a workers’ comp policy against that of paying the out of pocket expenses for an injury, but if you are planning on covering lost wages as well, those expenses can really add up the longer the employee is out. And what if your employee suffers a permanent impairment? Can you afford that kind of care? Workers’ comp will help you pay for it.
Protect your Pennsylvania business, and your employees, with a JJB Workers’ Comp Insurance policy.
Source – 5 Workers Comp Myths
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