The True Cost of Skipping Workers’ Comp

At North Coast Insurance Services, we understand workers’ compensation insurance’s significant role in safeguarding businesses and their employees. Opting out of this crucial coverage is risky because it could lead to substantial unforeseen costs.

Workers’ compensation insurance is a protective barrier for employers and employees. It ensures that in the event of a work-related injury or illness, employees’ medical needs are addressed, and employers are shielded from costly lawsuits. Without this insurance, Lexington, MI businesses could face severe financial and legal consequences.

For many businesses, particularly small enterprises, the temptation to skip workers’ comp in an attempt to cut costs can be appealing. However, the reality is that the absence of this insurance can lead to much steeper expenses down the line. Legal fees, medical bills, and compensation for lost wages can quickly accumulate, far exceeding the premiums for adequate coverage.

Moreover, maintaining workers’ compensation insurance fosters a safe and supportive work environment. It reassures employees that their welfare is a priority, which can enhance morale and productivity. Employees are more likely to feel valued and secure at a fully insured workplace, knowing that they are covered in case of any mishaps.

At North Coast Insurance Services, we’re dedicated to helping businesses understand the importance of workers’ compensation insurance. Ensuring you have the right coverage is not just about compliance; it’s about protecting your business’s future and the well-being of those who contribute to its success.

We invite businesses and individuals in and around Lexington, MI, to contact us. At North Coast Insurance Services, we are equipped to guide you through the intricacies of workers’ compensation insurance, ensuring you choose the best possible protection for your business and your team.

What Claims Are Covered Under Workers Compensation?

In Michigan, businesses aren’t legally required to carry worker’s compensation insurance. However, worker’s compensation insurance can be obtained through North Coast Insurance Services serving Lexington, MI and surrounding areas. This coverage offers several benefits, many of which help protect the business from legal action, as well as the employee who suffers an injury on the job.

Work-related Injury Coverage

Work-related injuries can happen anytime and anyplace. Even the safest workplaces can benefit from worker’s compensation, which covers work-related injuries like slips and falls and other accidents while an employee is on the clock.

Occupational Illness

Exposure to certain harmful materials can result in occupational illnesses, even after an employee has left a job. Coverage includes things like respiratory illness, chemical exposure-related illnesses, asbestos exposure problems, and more.

Pre-existing Conditions

In certain instances, worker’s compensation may cover pre-existing conditions that were worsened by job-related activities. This varies, case by case, so contact your insurance representative at North Coast Insurance Services serving Lexington MI if you have claim-related questions.

Repetitive Stress Injuries

Worker’s compensation often includes repetitive stress injuries, which can develop over time due to the nature of the job. Conditions like carpal tunnel syndrome or back problems resulting from repetitive tasks may be eligible for compensation, depending on individual circumstances.

Death Benefits

In the event of a fatal tragedy involving a job-related incident, worker’s compensation may cover certain costs having to do with the death, which may be payable to the surviving dependents of the employee.

Schedule A Consultation Today

Even though worker’s compensation is not required by law in Michigan, it’s easy to see that it is a valuable insurance coverage for businesses to carry. To learn more or to get your worker’s compensation insurance coverage started, contact North Coast Insurance Services serving Lexington, MI today.

Why Michigan Employers Need to Consider Workers’ Compensation Insurance

Michigan businesses need to take care of their employees, but they also need to be protected against accidents and unexpected costs. If your business is located near Lexington, MI, you should strongly consider workers’ comp insurance with a provider like North Coast Insurance ServicesLet’s take a closer look at some of the benefits of workers’ compensation insurance for businesses in the state of Michigan:

Why Workers’ Comp Insurance?

Michigan employers should consider workers’ compensation insurance because it provides benefits for employees who suffer work-related injuries or illnesses. Moreover, employers are required to have workers’ compensation insurance under Michigan law. 

The benefits of workers’ compensation insurance include coverage for medical expenses, lost wages, and rehabilitation costs. It also provides benefits to the family of an employee who died due to a work-related accident. Plus, workers’ compensation insurance helps protect employers from being sued by employees for work-related injuries, which can be very costly and time-consuming.

In addition to protecting employees and employers, workers’ compensation insurance can also improve workplace safety by encouraging employers to provide a safe working environment for their employees. Employers who prioritize safety can reduce the likelihood of workplace accidents, which can lead to lower workers’ compensation insurance premiums.

In short, workers’ compensation insurance is essential for Michigan employers to consider as it helps protect both employees and employers, promotes workplace safety, and, perhaps most importantly, it is required by law.

Reach Out To Us

Does your business operate in Lexington, MI? Are you looking for workers’ comp insurance? If so, be sure to reach out to us at North Coast Insurance Services today for more information!

The Dangers of Not Having Workers’ Comp Insurance

When it comes to running a business, there are a lot of important things to keep in mind. From stocking the shelves to keeping the books in order, it can be easy to forget about some of the less exciting aspects of running a company.

However, one thing that should always be at the top of your list is ensuring that your employees are properly protected. One way to do this is by carrying workers’ comp insurance. North Coast Insurance Services in Lexington, MI can provide you with expert insurance advice.

Failing to get workers’ comp insurance so can lead to several problems, including:

1. You Could Be Held Liable for Your Employees’ Injuries

If one of your employees is injured on the job and you don’t have workers’ comp insurance, you could be held liable for their medical bills and other expenses. This is because, in most states, employers are required to provide workers’ comp coverage for their employees. If you don’t have this coverage and an employee is injured, you could be facing a lawsuit.

2. You Could Be Fined

In addition to being held liable for your employees’ injuries, you could also be fined by the state if you’re caught operating without workers’ comp insurance. The amount of the fine will vary from state to state, but it could end up costing you a lot of money.

3. Your Business Could Suffer

If one of your employees is injured and you don’t have workers’ comp insurance, it could have a negative effect on your business. This is because your employees may not want to work for a company that doesn’t have this coverage. As a result, you could have trouble finding and keeping good employees.

4. You Could Go Out of Business

Never underestimate the power of a lawsuit. If you’re sued by an employee who was injured on the job, and you don’t have workers’ comp insurance, you could be forced to close your business. This is because the costs of defending yourself in court and paying any damages that are awarded can quickly add up.

Give Us A Call

As you can see, many risks are associated with not having workers’ comp insurance. If you’re running a business, North Coast Insurance Services in Lexington, MI can help you get the coverage you need to protect your employees. Contact us today to learn more about our workers’ comp insurance policies. We’re here to help you keep your business running smoothly.

Do You Need Workers’ Compensation Insurance?

Workers’ compensation insurance is an important type of policy that can help both your employees and your business. It’s a smart move to have this insurance in place, as it may come in handy after an employee accident. If you need workers’ comp coverage, call us at North Coast insurance Services in Lexington, MI to find out more.

Requirements for Michigan Businesses

In Michigan, many businesses are required to have this insurance for their employees. Each state has its own number of employees that require businesses to get workers’ compensation insurance. In Michigan, it’s required for a business that has three employees or more, with at least one of them working more than 35 hours a week for at least 13 weeks. The other two employees can be part-time or full-time. 

How Businesses Benefit 

Having to keep another type of insurance may seem like a hassle at first, but it is incredibly valuable for employers. Accidents at work can and do happen, and they can be expensive to pay for later. A business that has one of these policies has protection against lawsuits that employees can file against them for accidents. And because it pays for the medical bills and certain other costs, it saves your company from having to pay today’s high prices for medical bills. 

Employee Rights

Workers’ comp isn’t just helpful to the employer- it also benefits an employee who has an accident. In Michigan, employees in this instance have the right to get medical care after an accident and to choose their own doctor. They also are entitled to lost wages and getting vocational rehabilitation when needed. They also have a right to benefits from the Family Medical Leave Act. 

Get Workers’ Compensation Coverage

If your company needs workers’ comp insurance, give us a call now at North Coast insurance Services in Lexington, MI.