Recent studies suggests that business owners may be skipping their workers compensation payments in order to cut business costs.
Here are a few reasons to reconsider this option.
- Not a good idea for your business. If you're a local business and don't offer workers compensation, you may incur disguntled employees and may not have support from the local people.
- Your business could be shut down. Colorado law requires all employers to provide workers compensation insurance. If you don't comply, you may have your business operations shut down.
- Fines can be very costly. The state may impose fines against businesses that do not provide workers comp insurance, and these can be very expensive.
- Loss of employees. Some employees may choose not to work for you knowing that you are not providing Colorado workers compensation insurance.
- Lawsuits and claims. If an employee becomes injured and you don't have workers comp insurance, you may face lawsuits and claims. You may have to cover the cost of the injury and legal fees.
To get a free Colorado workers comp insurance quote, just go here and we can help you find the right coverage at an affordable price.