Having an auto dealership is a lot of work – and a lot of responsibility. There are many types of insurance that you need to protect your auto dealership from the risks you face. One highly important coverage to consider is workers’ comp insurance. Why is workers comp for auto dealerships such a big deal? Well, there are a lot of reasons that workers’ compensation can be a crucial coverage. We’ll explain.
6 reasons workers comp is important for your auto dealership.
1. Cars can be dangerous.
Well, that’s first and foremost. Cars are dangerous, and since your employees work at an auto dealership … well, you can see where we’re going with this. The point is that accidents and injuries can happen in an instant. And workers’ comp is the coverage that can help in that situation. Workers compensation can help protect your employees and your business in the event of a workplace accident.
2. It can provide for your employee if they’re hurt on the job.
Workers comp can help your employee if they fall victim to a work-related injury. It can cover the costs of their medical bills and rehab. It can also give them a portion of the wages they lost while recovering from their injury if they need time off. And in the event that the employee is disabled, workers’ comp can provide benefits. So, that’s one really big reason workers compensation is important for auto dealerships. It can take care of your worker if they get hurt on the job.
3. It can cover your obligation to your employee.
Another thing about workers compensation is that it helps cover your obligations to your employee if they’re hurt on the job. Workers compensation isn’t really something you want to use because you don’t want anyone to get hurt, of course, but it’s there to help you out if the worst-case scenario strikes. It’s highly important when it comes to doing right by your employee in the event of an accident.
4. You can attract great employees.
Having a top-notch team of people at your auto dealership is really crucial. Being able to take care of your people with workers comp can help you show potential employees that you really care about your team and want what’s best for them. And that means a lot when you’re recruiting people.
5. You can avoid lawsuits.
Another benefit to workers comp is that it can help you avoid costly, draining lawsuits. With workers comp, employees don’t have to sue over workplace injuries. And avoiding lawsuits is a good thing, right?
6. It might very well be the law.
The state you’re doing business in probably has stipulations and laws about workers’ comp. It might mean you’re required to carry workers comp if you have a certain number of employees, for example. It’s probably a good idea to be on the right side of the law, right? So – be sure to brush up on your state’s workers compensation laws. That way you can avoid trouble down the line.
Get auto dealer insurance quotes.
Auto dealers face a lot of risks, and there are a lot of reasons why workers’ compensation is so important. However, you might be wondering how to get the right auto dealership workers comp insurance for your business. Our team would be happy to help with that. We can help you get the coverage you need for your dealership. Fill out our online form, give us a call, or message us to get started with your quote.