Workers comp allows employees who have been injured in the workplace to get compensation for medical bills and other related expenses. While employees have a lot to gain, there are also significant advantages for employers to get by acquiring Virginia workers compensation insurance.
Stay on Right Side of Law
First, it is required by law for businesses to have a workers comp insurance policy. If it is discovered you are operating without one, you could face some hefty fines.
In the event an employee gets hurt on your property and you have no insurance in place, then he or she could sue to get damages. Going to court and potentially paying out of your own pocket can really put a dent in your companys finances. It is best to avoid this mess altogether if possible.
Ensure Your Workers Are Helped
Every business should operate like a family. You want the best for everyone you bring onto the team. When someone gets hurt, you want him or her to get through this time efficiently, and having a workers comp policy can help achieve that.
If you are planning on starting your own business, then look into Virginia workers compensation. Chances are high you will need to get it no matter what in order to open the doors for business.