Why Do You Need a Workers’ Compensation Certificate?
Most states require that companies have workers’ compensation insurance, and these forms are the proof you need when you are signing a client contract, providing services to a government organization, or entering into a business partnership, for example.
The certificate of insurance for workers' compensation helps to provide your clients and potential clients with some reassurance.
If one of your employees suffers an illness or injury related to work while they are working on the client’s project, it shows you will be capable of covering the cost of medical bills, employee lawsuits, and lost wages. It ensures there is protection for your clients.
If you have an existing policy and you request a workers’ comp certificate, you will find that it can even help you to win a contract. When you provide this information to the clients even before they ask, they will appreciate your forward thinking.
Other companies might not do this. They might only present the form after they have received the job.
While there’s nothing necessarily wrong with this, it doesn’t do anything to help make your business stand apart from the competition.
If you take the initiative, on the other hand, and have the form ready, it will help your business to stand out, thereby increasing the odds of your company getting the contract.
It may even mean you can start the job earlier since everything is in order and you don’t have to wait for confirmation and a copy of the certificate.
This can be a benefit for large and small businesses alike.
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