Is Worker’s Comp Insurance Necessary in a Family-Run Business?

Family-owned businesses can provide many engaging opportunities for their owners, but what if someone in the family gets injured working there? Is it necessary to have workers’ compensation insurance for these companies? Thankfully, StateChoice can help West Hartford, CT, business owners understand whether or not workers’ compensation coverage is necessary for this type of business.

Why Worker’s Compensation Insurance is a Wise Decision 

Worker’s compensation insurance is a wise choice in a family-owned business, even if everybody who works for you lives under one roof together. This type of compensation can apply to many different individuals who work for your company, including:

  • Temporary Workers – Even if your family member only works for you occasionally, worker’s compensation insurance may be necessary. 
  • Part-Time Employees – Your adult son who comes to your shop on the weekends to work may need workers’ compensation to avoid financial struggles. 
  • Full-Time Individuals – Any family member who works full time at your operation needs worker’s compensation insurance and more to minimize financial struggles. 

While it might seem like an unnecessary cost, imagine the benefits it will have if someone gets hurt. For example, you may end up having to take care of your daughter if she gets hurt unless she has workers compensation to care for her financial needs and keep her afloat.

Don’t Neglect Your Employees 

It is essential to understand that all people working at your business are employees, even if they are family members. And if they are injured, workers’ compensation can help both them and you with financial issues. So if you own a family business and want to protect yourself and your loved ones in West Hartford, CT, please contact us at StateChoice today to learn more about your coverage options.