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Do I Need Workers’ Compensation for My Osage Beach Business?

By February 28, 2022Business Insurance

You might not realize this, but in many areas, including Osage Beach, most businesses must carry workers’ compensation insurance. Just because it’s a requirement doesn’t mean it’s clear what you need, how much, and the best ways to keep your company and employees safe. Having more information about what’s available will help you make the best decision for your business.

What Is Workers’ Compensation Insurance Anyway?

Perhaps the best place to start unpacking whether you need workers’ compensation insurance in your Osage Beach business is by understanding what it encompasses. This coverage is there to help your employees pay their bills following a work-related injury or illness.

Having workers’ compensation benefits for your team will help you cover expenses from lost wages, medical bills, and death benefits for the family if a catastrophic loss occurs.

Workers’ compensation doesn’t just kick in after a job site injury. Instead, it can cover several events related to a work injury or illness. For example, if your team works with chemicals, it can cover residual health conditions from those chemical exposures. If your team slips on ice outside the office or at a job site, it can cover those injuries. Or, if your team experiences repetitive stress injuries, such as carpal tunnel syndrome, workers’ compensation might be necessary to cover expenses.

What Am I Required to Have for Workers’ Compensation in Osage Beach?

Every state is unique regarding what’s required for workers’ compensation coverage. In Osage Beach, specifically, you’re required to start carrying workers’ compensation as soon as you have five or more employees. Construction companies need coverage if at least one employee, given the higher risk of injuries on job sites.

There are a few exceptions to the rule when it comes to getting workers’ compensation in Osage Beach. Sole proprietors, farm laborers, real estate agents, direct sellers, and some part-time or domestic workers might not be required to carry workers’ compensation insurance. Talking to an insurance agent regarding Osage Beach can help you know specifically what’s required for your organization.

Steps You Can Take to Avoid a Workers’ Compensation Claim

No one ever hopes for an accident or injury to occur while at work. To help prevent injury or illness, there are a few things you can do for your team.

Educating your employees and providing proper training is a great way to avoid accidents. Knowledge about machinery, warnings about possible hazards, and information about appropriate physical care can help your team prevent injury or illness.

Providing proper safety equipment or gear can also help. Equipping your team to protect themselves in a variety of conditions is critical.

Getting a Quote for Workers’ Compensation Insurance in Osage Beach

If you’re unsure about what type of coverage you need and what type of coverage is recommended for your specific industry, contact us. As workers’ compensation insurance agents in Osage Beach, we have specific knowledge of the state requirements and detailed information about what each provider can cover for you. We’ll be happy to sit down with you and go through all the nuances, so you can be confident that you’re properly covered.