Owning a business in Pennsylvania is more than just opening up shop and hiring a few employees. There are several steps you need to take before you can call yourself a rightful business owner. One of these steps is getting the right insurance. Granted, commercial insurance can confuse almost anyone. Still, it is important to know what kinds of lines are relevant to your business. While there a few that are market-specific, any industry can benefit from Pennsylvania workers compensation.
Why Bother With Workers Comp?
Workers compensation may not be your top priority when you first open. However, this coverage is not only crucial during an emergency but it also required by Pennsylvania law. Signed in 1915, the Pennsylvania Workmen’s Compensation Act states that workers compensation is required by a majority of employers. So if you don’t want to find yourself saddled with fines, then it is wise to add this to your coverage package.
Still, it is important to invest in workers compensation because it can help you avoid litigation from hurt employees. These lawsuits can end up costing you more than the medical payments and benefits that you would have paid to employees through this insurance. Therefore, if you want to follow Pennsylvania workers compensation laws and avoid expensive costs then you should invest in this policy.