States control many of the elements of workers’ compensation insurance. Considering this, it can be hard to manage the rules and requirements of this type of insurance if you have employees who work across state lines. As a business owner, you want to protect your team. Yet, you recognize that this is not always easy to do. What should you do if you have workers in more than one state?
What Makes It Confusing
States impose a variety of rules regarding workers’ compensation insurance. They determine which companies must carry it. They also can define what types of claims apply. In many situations, these situations can change from time to time as state laws change.
When you have a company with multiple locations or employees who travel over the state line, it is important that your insurance reflect these risks. Most of the time, your insurance agent can help you to manage the concerns.
Assessing Requirements
Work closely with your business insurance agent. He or she should be able to assist in determining the type of coverage based on your employees and where they work.
It is always necessary for companies to meet the local requirements for workers’ compensation insurance coverage. Your policy should reflect coverage that meets all of the goals no matter what state you operate in.
This becomes important when your company’s headquarters remain the same. However, you have employees that go over the state line to provide services. In this case, your policy needs to reflect regulations on both sides. Sometimes, this might mean getting more than one workers’ compensation policy.
Multiple Locations for Your Company
Perhaps you are expanding your business. You plan to open another location in another state. In this situation, keeping the operation as separate would probably require a company to have different policies for each location. This might minimize financial costs in some situations.
Work with your agent to determine the best types of insurance for each location. It can also be important to revisit policies on a routine basis to ensure they meet changing laws.
In all situations, companies want to do what they need to in order to keep employees healthy and safe. Having workers’ compensation insurance that does this is critical. Luckily, it is easier today to purchase policies that reflect your specific needs. That applies to no matter where you operate your business or the types of services that you provide.