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How much workers compensation insurance do you need?

When it comes to workers’ compensation insurance, it is important to have the right amount of coverage from L M Insurance & Financial Services LLC for your Bronx, NY business. Depending on the type of business you own and the state you are in, the amount of coverage can vary. Generally, most states require businesses to carry at least some form of workers’ compensation insurance. 

Understanding Workers’ Compensation

It is important to understand how much workers’ compensation insurance you need so that you can adequately protect your employees and your business. Most states require employers to carry a minimum amount of coverage; however, depending on the size of your business, you may need more coverage than what is legally required.

If you employ a large number of people or if your employees work in hazardous conditions, it may be necessary to increase your insured limit. Additionally, if you are in an industry with high-risk potentials such as construction or manufacturing, it may also be beneficial to get extra coverage for additional protection.

No matter what type of business you own or where it is located, having adequate workers’ compensation insurance will help ensure that both your business and employees are adequately protected in case of an accident or injury. Make sure that you do your research and consult with a professional before deciding how much coverage is right for you.

Reach Out To Us

For more information, or if you want to explore getting a worker’s compensation policy to protect your employees and your business, call us at L M Insurance & Financial Services LLC today. We proudly serve the Bronx, NY area and would be glad to help you find a policy that suits your needs and your budget.

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