As a manager of a small business, you are in charge of protecting and helping your workers as much as possible. There are plenty of ways you can do this. Giving your employees good benefits, competitive wages, and protecting them with workman’s compensation insurance can be a great start. Most small businesses know the importance of giving their associates good benefits and competitive wages, but workman’s compensation insurance is often overlooked. Workman’s compensation or worker’s comp provides insurance to cover medical care and compensation for employees who are injured in the course of employment. The compensation is in the form of monetary value for medical bills and time the employee may need off to heal. Here are step by step suggestions for ways to make sure your employees are protected through workman’s compensation.

The first step to getting started is to make sure you have received all the paperwork for workman’s compensation. This paperwork included payroll reports that show how much money is paid out to your employees. Organize the paperwork and make sure everything is completely filled out and done correctly. The insurance companies will use these figures, along with classification codes to help determine how much the policy will cost you. The second step is to make sure you make copies of the accident reports even if the accident happened a long time ago. It is very important to make sure these accident reports detail the accidents that the employees have had during work. The insurance application will require you to make a list of information when you apply for the policy.

The third step is to make sure to compare prices for insurance agents. It is really important to shop around for the right insurance agent for the workman’s compensation case. Do meet with the insurance agent and get as much information as possible pertaining to their hourly rates once you find the agent that is right for you. Filling out the application can be a tedious and very time consuming process. It is very important that all the information that you provide for the workman’s compensation is as accurate as possible even down to the tiniest detail. It is very common that the information that is submitted is rejected unless the information is completely accurate. Along with the workman’s compensation application, you may be asked to put down a deposit. This deposit is for the insurance premium when you submit your package.

It is important as the manager to make sure your company is open to field visit, if it applies to the situation. A field visit is when an insurance agent comes to your workplace. The insurance agent will take notes and observe your company’s daily operations. It is a completely normal procedure and usually doesn’t last for a full day.

The final step is really a no brainer, but is extremely important to follow. Make sure that your premiums get paid on time. This is such an important step that it is hard not to stress it enough. Once you follow the above steps, you will be able to breathe a lot easier. Your employees will appreciate your efforts to aid in their filing and in return you will have a happy staff.