A work-related injury can turn both a business owner’s and an employee’s world completely upside down. Workers’ comp insurance in Arizona, Nevada, and many other states is required by-law for business owners who have at least one employee and certain types of independent contractors. As a business owner, you probably already know that you need workers’ compensation insurance to protect both yourself and your employees. But how can you choose the right policy and provider for your individual needs? Use our tips before you begin searching for insurance to help you pick the perfect policy.
Know your state requirements. The first step to buying insurance is to know your specific state’s insurance requirements. Insurance requirements can vary drastically by state. For example, Texas laws don’t require most business owners to purchase any form of workers’ compensation insurance, while laws surrounding workers’ compensation in Nevada dictate that every employer and even some independent contractors need to maintain insurance. Read up on your state’s insurance requirements before you start looking for a policy so you know what you need.
Choose a provider who offers a number of insurance services. You can usually secure an insurance discount if you purchase multiple policies through the same insurer. If you need more than one type of insurance, look for an insurer who provides more than just your standard workers’ compensation insurance. For example, in addition to workers’ comp, DJM Insurance Services also provides contractors’ bonds, tools and equipment coverage, and much more.
Read a few testimonials. You want to work only with reliable and trustworthy insurance providers who have proven themselves in their local area. Ask any prospective insurance providers to supply you with reviews and testimonials from current or past clients. You should be suspicious of any company who isn’t open and honest about their reviews.
If you need help navigating the myriad of workers’ compensation laws, DJM Insurance Services is here to make things a little simpler. Give our team a call today at 800-763-0698 to get started or to learn more.