The Importance of Workers' Comp Insurance for Your Ice Cream Business
Owning an ice cream business is a dream for many Americans. As fun and easygoing as it sounds, it's more than just ice cream cones and sprinkles.
There are hundreds of ice cream businesses in the country, each operating at a different level of professionalism. At the end of the day, how you handle important business logistics is what can determine whether your ice cream shop will hold firm or melt in the hot sun.
One of the things you might not think about when drafting up your business plan is Workers' Comp insurance. After all, what could possibly go wrong in an ice cream shop?
When you let your guard down is when you could become vulnerable to issues that small businesses might face. One of those is employee workplace injuries. We'll explain the importance of purchasing Workers' Comp insurance for your ice cream business, so keep reading and learn how it can benefit you as an employer.
Why Should You Consider Workers' Comp Insurance for Your Ice Cream Shop Business
Insurance for businesses isn't always such a simple concept, but that's not true of Workers' Compensation. At its core, it's a type of insurance that can provide financial security by reducing the potential financial risks associated with an injury on the job.
Ice cream shops are a place where anything could happen. Whether it's a fall on a slippery floor or another type of injury, there are opportunities for unfortunate events to happen at your ice cream business.
For employees, should they sustain an injury on the job, Workers' Comp can give them a safety net so they can pay their medical bills and focus on recovery. Many states require employers to carry Workers' Comp insurance, which may include your ice cream business.
What Does It Cover?
At PolicySweet®, our Workers' Comp insurance can cover a variety of expenses. This includes an injured employee's medical costs and lost wages.
The following is a comprehensive list of what our Workers' Comp insurance policy can cover and ensure:
- Missed wages due to recovery
- Accident and injury costs
- Ongoing medical costs, such as rehabilitation, medication, or therapy
- The cost of immediate medical treatment, such as ambulance rides, surgeries, and hospital stays
- Compliance with state laws to help avoid penalties and fines
Here are a few things that Workers' Comp won't cover:
- Intentional injuries meant to exploit Workers' Comp
- Injuries resulting from violence instigated by employees
- Injuries resulting from violations of workplace conduct policies
- Off-the-job injuries
- Injuries that occur while under the influence
To learn more about the details of our Workers' Comp insurance policies, head over to our site for more information.
Help Protect Your Employees
Managing employees is an important aspect of your ice cream business. They need to trust you as much as you're entrusting them to help operate your business on a daily basis. Having Workers' Comp insurance shows that you likely value their health and safety.
Showing how you value them can help boost employee satisfaction and help you retain your best and brightest. It can also help you attract new talent when it comes time to expand and hire new employees.
Without insurance, your employees are left vulnerable to accidents at work. Knowing that they may not be protected under an insurance policy, they could be more inclined to seek alternative employment.
Help Protect Yourself
However unlikely it may seem that serious injuries could occur at ice cream companies, you just never know. Your Workers' Comp policy can protect you against a variety of liabilities should an employee no longer be able to work because of an injury.
If you don't have an insurance policy, you're more than likely to be on the hook for a number of expenses. Unless you own a rapidly growing ice cream business, you probably don't have the financial wiggle room to make this happen. An employee injury could result in financial damage to your ice cream business.
With PolicySweet, we strive to make getting Workers' Comp easy. Head over to our site to answer questions about your ice cream business. You'll receive a no-obligation quote and, if you accept, you could be immediately covered so you can put your worries to the side and enjoy "peace of mind".
The Legal Imperative of Workers' Comp
As mentioned, most states require you to carry Workers' Compensation insurance. A few states require Workers' Comp only if you have a certain number of employees.
So, what happens if you don't have coverage when you're legally obliged to?
The fines for failing to have Workers' Comp also vary by state. Some states, like Pennsylvania, have made failure to comply with Workers' Comp law a felony. In addition to fines, you could end up with possible jail time.
When you consider the payments that come with carrying Workers' Comp, it hardly seems worth it to risk the repercussions of not having it.
Treat Your Ice Cream Business Employees Right
The importance of Workers' Comp insurance for your ice cream business can't be understated. Should workplace injuries occur, your insurance policy can help ensure that your employees are looked after, and you can have "peace of mind" if workplace accidents happen.
At PolicySweet, our Workers' Comp insurance is there to help protect employees and employers alike. Head over to our site to learn more about what our policies provide or contact us to get your ice cream business covered.