Workers Comp Insurance: The Documents You Need To Prepare
Workers comp insurance is required for all employers to protect employees from additional expenses due to injuries at work. It is your responsibility to keep your insurance policy up to date.
However, as a new employer, sometimes you can neglect to apply. So how will you get started? It’s fairly easy - read on.
Prepare Your Licenses
Make sure that all your licenses are in order. You should prepare your business permits as well as information about the legalities of your endeavor. Once you gather all these pieces of documentation, you can easily apply for a workers’ comp insurance policy.
Present Your Documents to the Department of Labor
After this, you can present it to the Department of Labor and Industries in your country, and they will be the one to take care of your application. Just make sure to keep your state licenses up to date.
Keep the Policy Updated
If you already have insurance as a business owner, it is your responsibility to keep your policy up to date. Make sure that you contact your insurance company and ascertain all the information regarding possible changes to the policy.
In doing this, you will be able to protect your employees even further without having to spend too much money down the road. It’s all about being a responsible employer. It will be easier to handle your business if all your employees are protected as well.
You will not run the risk of them rebelling because of unfair labor practices in the future.
Once you have sent the application to your local department of labor and industries, it usually takes one week to assign it to an account manager. Then the manager will contact you to ensure that your business classification is above board.
They will also set up an initial interview to get to know you better as an applicant. It will allow them to see if you are capable of financially supporting your insurance policy. You should get the answers to your questions as soon as possible.
After this, an account manager will set up your policy. The company will send a letter explaining what the policy is all about. Here, you will learn all about coverage as well as the rate of the policy itself.
Armed with this information, you can set up and buy your worker's comp insurance policy for employees in the future. It's pretty easy to do because the company will be the one to handle the nitty-gritty of it all.
You ought to submit the proper documents, and they will be the ones to take care of it.
Go ahead and apply right now. If you already have a policy, don't hesitate to keep it updated.
At Second Western Insurance Services, we put our clients first by offering them policies that they can afford. Having insurance is a necessity nowadays, and we're here to help you out. Learn more about our products and services by calling our agency at (818) 952-5203. You can also request a free quote by CLICKING HERE.