• Home
  • Get A Quote
  • Customer Service
  • Refer a Friend
  • About Us
  • Location Map
  • Employee Directory
  • Privacy Policy
  • Contact Us
Call Us
Call Us Today |
(888) 513-8784
Home

In Omnia Paratus…"Ready for all things!"


blue referral button
  • Home
  • Get A Quote
  • Customer Service
  • What We Offer
    • Auto Insurance
    • Boat & Watercraft
    • Business Owner's Policy
    • Commercial Auto
    • General Liability
    • Home Insurance
    • Life Insurance
    • Pet Insurance
    • Product Liability
    • Workers Compensation
  • Blog
  • Make a Payment
  • Resources
    • Risk Management Center Login
    • Refer a Friend
    • Important Links
    • Insurance Glossary
  • About Us
    • About First Independent - Descamps Insurance Agency
    • Our Locations
    • Testimonials
    • Privacy Policy
  • Contact
    • Contact Us
    • Join Our Newsletter
Auto Insurance AUTO
INSURANCE
Read More
Boat Insurance BOAT &
WATERCRAFT
Read More
Business Insurance BUSINESS
INSURANCE
Read More
Homeowners Insurance HOME
INSURANCE
Read More
Life Insurance LIFE
INSURANCE
Read More
Other Insurance OTHER
INSURANCE
Read More
Home > Blog > Worker's Compensation Insurance in the Retail Setting
FRIDAY, MARCH 8, 2019

Worker's Compensation Insurance in the Retail Setting

There are many businesses that need workers' compensation insurance. These policies protect against financial loss due to employee injuries. In a retail setting, it is perhaps one of the most valuable purchases you can make. View this form of business insurance as a critical investment. Here is why itimage of retail store matters so much to your retail location.

The Risks Are High to Retail Business Owners

Some industries seem like high-risk places to work. This includes things like health care businesses and construction companies. Retail is also a high-risk position.

According to the Bureau of Labor Statistics, retail had a high rate of loss in this area. The incident rate for 2015 per 10,000 workers was 105.3 cases. In retail, employees lost 123,770 days off work from injuries. Employees are invaluable to this industry as well. That means losing a day or two from work can amount to thousands of dollars in loss for the company.

Why Retail Jobs Are Dangerous

It may not seem like this type of industry is high risk. However, it often has the fewest employee safety training programs. It also has a large number of injuries such as cuts and lacerations. According to the same report, those risks made up 11 percent of all claims in the retail sector – a total of 13,490. These were enough to send people to get medical help.

How Workers' Compensation Insurance Protects You

As a business owner, you need to minimize financial loss. If an employee suffers an injury at work, your company may be responsible for those losses. Instead of paying for them, your worker's compensation insurance covers the cost. Imagine having to pay for all the cuts, broken arms, and other injuries employees at your retail location have. It could get expensive.

Many states require workers' compensation insurance. If your state does, failure to maintain a policy can be more costly. Be sure to work with your business insurance agent to find out if this is the case. Coverage should be enough to cut any financial risk from your company to an injured worker. This includes for lost time at work, medical bills, and pain and suffering claims.

Workers' compensation insurance is vital in retail. Without it, your company may suffer significant loss. Luckily, the industry’s per incident loss cost is not as high as other industries. That means this insurance may be affordable to you. Going without it may not be wise.

Also Read: Exclusions of General Liability Insurance

Posted 11:12 AM

Tags: business insurance, workers compensation, retail insurance
Share |


No Comments


Post a Comment
Required
Required (Not Displayed)
Required


All comments are moderated and stripped of HTML.

NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive
  • 2020
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014

  • insurance(35)
  • tips(26)
  • sterling heights(24)
  • coverage(19)
  • michigan(17)
  • home insurance(17)
  • auto insurance(16)
  • business insurance(15)
  • life insurance(12)
  • savings(9)
  • health insurance(8)
  • safety(8)
  • sterling heights mi insurance(6)
  • pet insurance(6)
  • homeowners(4)
  • workers compensation(3)
  • protection(2)
  • security(2)
  • home maintenance(2)
  • general liability insurance(2)
  • fire safety(2)
  • liability(2)
  • commercial auto insurance(2)
  • damage(2)
  • strawberies(1)
  • cucumber(1)
  • home(1)
  • prescription drugs(1)
  • teen drivers(1)
  • business budgets(1)
  • family(1)
  • diet(1)
  • storms(1)
  • final expenses(1)
  • millennials(1)
  • online security(1)
  • benefits of paid policy(1)
  • winter(1)
  • claims(1)
  • tomatoes(1)
  • deductible(1)
  • health insurance deductibles(1)
  • car parts(1)
  • sterling heights business insurance(1)
  • business(1)
  • discounts(1)
  • uninsured motorist(1)
  • animal injury(1)
  • business finances(1)
  • car insurance(1)

View Mobile Version
Facebook
Twitter
LinkedIn
Fremont
EMC
Pioneer State Mutual
Frankenmuth
Mainstreet
Michigan Insurance
Nationwide
Chubb
elephant insurance logo
Twitter Logo

Resources

Home About Us Get a Quote Customer Service Newsletter Contact Us

Contact Us

map icon
  • Sterling Heights Office
  • 14500 Lakeside Circle
  • Sterling Heights, MI 48313
  • Phone: 586.247.2220
  • Fax: 586.247.7570
© Copyright. All rights reserved.
Powered by Insurance Website Builder