Small businesses in Colorado must comply with the state’s workers’ compensation laws. These laws provide specific protections for employees who are injured or become ill due to their job. Colling Insurance Services, Inc. understands Colorado’s workers’ compensation laws are complex, so we’re here to help small business owners in Lakewood, CO become familiar with them before they open their doors.

How does workers’ compensation insurance work in Colorado?

Workers’ compensation insurance is designed to help cover the costs of medical treatment and lost wages for employees. In Colorado, small businesses must have workers’ comp insurance when they have one or more employees. Most business owners in Colorado purchase workers’ compensation insurance through a commercial insurer or the state-sponsored Workers’ Compensation Insurance Pool. Large employers may self-insure their workers’ compensation risks by obtaining approval from the Colorado Division of Workers’ Compensation.

Colorado Workers’ Compensation Benefits

• Workers’ compensation insurance pays for medical benefits for injured workers. These benefits include:

• Payment of medical bills related to the injury

• Reimbursement for travel expenses related to treatment

• Vocational rehabilitation

In addition, workers’ compensation insurance pays benefits for lost wages for employees who cannot work because of their injuries. The wage replacement benefits are based on a percentage of the employee’s pre-injury earnings.

What are the penalties for not having Colorado workers’ comp insurance?

You could be fined up to $500 per day if caught without insurance. If an employee is injured while uninsured, you will be liable for the entire claim plus a 25% penalty fine. You may also be subject to civil and criminal penalties. The local government might shut down your business until you comply with the law.

Colling Insurance Services Inc. in Lakewood, CO, offers workers’ comp insurance to protect you and your employees. We have the experience and knowledge to help you get the coverage you need at a price you can afford. Call us today to learn more about our workers’ comp insurance options.

Among the many business insurance policies, worker’s compensation cannot go unmentioned. No matter the business type, your employees are prone to injuries. With this in mind, workers’ compensation insurance comes in handy as it compensates for work-related injuries and other illnesses. 

Why should I incur an extra cost in purchasing worker’s comp insurance? Why do I need this coverage, yet I have a safe working environment? If you are not sure about worker’s comp insurance, here are the benefits you accrue when you purchase this coverage from Colling Insurance Services Inc. of Lakewood, CO.

Protects your employees 

The policy ensures that your employees get the appropriate cover in the workplace. The policy cushions against accidents, sickness, and injuries that happen due to work-related issues. The coverage covers:

• Medical expenses
• Death benefits
• Missed wages while the worker is recovering

Protects your business

Any company that values its employees is viewed positively. One sure way to appreciate your employees is getting worker’s comp insurance. This insurance not only boosts the confidence of your employees but cushions your company against lawsuits that employees could file due to work-related injuries. The policy thus protects your business from the financial burden as a result of employees’ work-related incidences. 

It’s mandatory by law

Colorado requires businesses to purchase worker’s compensation insurance. Compliance with this law keeps you off hefty fines and penalties. 

It’s affordable 

Worker’s compensation insurance is essential yet very affordable. While it doesn’t come for free, the cost of this coverage is minute compared to the costs it saves you when the unexpected strikes your business.

Worker’s comp insurance in Lakewood, CO

There you have it, the advantages of having the worker’s comp insurance. If you have a business and employees, better be safe than sorry. Contact us at Colling Insurance Services Inc. for an affordable quote.

In Colorado, there are a lot of different types of commercial insurance that are helpful for businesses of every size, but only two of these insurance types are required. If you need commercial insurance for your business, contact us at Colling Insurance Services, Inc. in Lakewood, CO.

Workers’ Compensation Coverage

When you have any number of employees, even just one, you are required to have workers’ compensation insurance for those employees. If someone does work for your company, the state presumes them to be employees, and workers’ compensation insurance is required for them as well. With this insurance in place, employees who have an accident at work or contract certain illnesses there will have their resulting medical bills paid for by the policy. The policy can also pay them for their wages lost after having an accident or contracting a covered illness. 

Commercial Auto Coverage

If your business owns a car, truck, or other vehicles, the state requires you to have a commercial auto insurance policy on that vehicle. There is a specific minimum amount required for covering the bodily injury liability for a single person who is injured in an accident that is your fault. There is a higher minimum amount required for the bodily injury liability for everyone in the accident. In addition, there is a set minimum required for the property damage liability for the accident. 

Optional Insurance

There are other kinds of policies that you can add to your coverage that can benefit your business. These include insurance types like cyber insurance, business owners’ insurance, professional liability insurance and more. 

Get Your Business Covered

It’s important that your business always has insurance to protect it. There are so many risks to businesses, and the right policies can help. Give us a call at Colling Insurance Services, Inc. in Lakewood, CO to find out more. 

If you’re operating a company and have employees, you may need workers comp insurance. That’s coverage designed to make sure your employees are protected if they’re injured at work. Depending on the kind of workers you have and the type of employment contract they fall under, it’s possible that this kind of coverage won’t be required. That’s why it’s a good idea to reach out to Colling Insurance Services Inc. if you’re in the Lakewood, CO area. Our knowledgeable agents are able to carefully consider your business needs and make sure you’re getting the right type of policy for the work your employees are involved in.

Worker’s comp can also protect you from injury if you’re a part of your business. A lot of owners, especially when they have small businesses, work at their company alongside people they hire. It’s important to make sure you and your company are properly protected, and that your employees will be able to have the type of coverage they need in order to get compensation for any work-related injuries they sustain. They don’t have to work in a dangerous profession to be at risk of harm, and even office workers can have work-based injuries that might need medical care.

Reach out to us today at Colling Insurance Services Inc. if you’re in the Lakewood, CO area and need workers comp insurance. Our trained professionals know what questions to ask in order to make sure you’re getting the right policy to cover your employees and fit your needs. Then you can have peace of mind, and be comfortable with following the employment rules for your business, too. It’s important that you focus on the protection of your company and the people who work there, so your business can thrive for years to come.

If you are in the Lakewood, CO area and want to start a small business, you may find that there is a lot of opportunities to be successful. Those that choose to start a company here do need to spend time finding ways to protect their organization. A great way that any business can do this is by getting a commercial insurance policy. There are a few reasons why business owners here need to have commercial coverage at all times.

Insurance Required by Lenders

For a business that wants to grow and develop, taking out a loan is often necessary. When you do take out a business loan, it will offer you the ability to purchase inventory, hire new staff or invest in the company any other way that you want. However, commercial lenders almost always require that their customers maintain commercial insurance until the loan is repaid in full as it offers valuable protection for the bank. 

Insurance Protects Viability of Company

You will also want to get a commercial insurance plan as it can help to protect the financial viability of the business. With commercial insurance coverage, you will have protection for your company assets and against the risk of liability. This can prove to be extremely valuable and will support your business during some difficult times. 

When you would like to get a commercial insurance plan in the Lakewood, CO area, it would be a good idea for you to call Colling Insurance Services Inc. There are a lot of important decisions that need to be made when you are shopping for commercial insurance and Colling Insurance Services Inc. can make it easier for you. The team is able to help you assess your needs and build a policy that gives your business proper protection. 

Commercial insurance is a fairly general term that business owners would be forgiven for getting confused. If you live in Lakewood, CO, Colling Insurance Services Inc. has a few general tips for understanding what this is and how to works to protect you, your employees, your customers, and your livelihood. 

What Is Commercial Insurance?

This type of insurance is one that’s specifically designed for business owners to cover any number of events that might occur. Like any insurance policy, it can be customized to fit your needs. So if you have employees, it might cover compensation if they’re injured on the job. If you’re a customer-facing business, it might cover you if someone were to slip and fall on the premises. 

How Do I Get Commercial Insurance?

Getting commercial insurance starts with understanding what you need from a policy. So if you happen to be located in a part of Lakewood, CO that’s more prone to flooding, you may want to tailor your coverage to ensure that you can repair your facility and replace any damaged inventory. If you’re working with highly litigious people, then you might want to increase your liability limits so that you’ll be able to handle a potential suit that comes your way. 

Who Can I Trust?

Colling Insurance Services Inc. is here to help you get what you’re looking for, regardless of whether you’re just starting out or you’re an established presence in the community. It’s not easy to navigate the many decisions of owning a commercial enterprise, but we know what to ask and how to go about structuring a policy that will be there for you through thick and thin. If you’re looking for a staff that can do the same, give us a call today. 

If your Lakewood, CO business employs one or more workers, be they full or part-time, you’re required to have worker’s comp insurance. Worker’s comp covers accidental injuries of employees on the job. Worker’s comp is an important part of your company’s commercial insurance package. Here’s what all business owners should know about worker’s comp coverage from Colling Insurance Services, Inc.

What’s Covered by Worker’s Comp?

Workplace accidents can happen at any time, even in safe work environments. Worker’s comp insurance protects your business by covering employee injuries that occur on the job. This coverage includes: 

Accident Medical Costs – Worker’s comp pays for medical expenses of workers who are injured in an accident on the job. This includes slip and falls, broken bones, strains and sprains, back injuries, dislocations, and more. This coverage extends to rehab services or ongoing care, if needed, to help employees fully recover from injuries sustained on the job.   

Work-Related Illnesses – If an employee contracts an illness due to unhealthy workplace conditions such as poor ventilation, exposure to harmful substances, etc., worker’s comp in Lakewood, CO will help pay for his treatment costs.

Repetitive Injuries – Jobs that require repetitive actions like extensive sitting or standing or heavy lifting may result in repetitive injuries due to stressed muscles and joints. Worker’s comp will cover treatment for repetitive injuries if they are caused by your job.  

Lost Wages – Worker’s comp covers part of your employee’s lost wages while he or she is recuperating from an illness or injury related to his or her job.

Disability/Funeral Costs – If a work-related illness or accident results in disability or death, worker’s comp will pay disability benefits or cover funeral costs.

For more information about worker’s comp or commercial insurance policies in Lakewood, CO, contact Colling Insurance Services, Inc. today.

It’s pretty easy to apply for a commercial insurance quote in Lakewood, CO but it can be harder to understand all the details and if you are getting a policy to suit your needs.

The Details

This is where you should be spending the most time looking at your quote and comparing policies. The policy that has the lowest premium may not necessarily be the best one. Each quote will tell you what kind of policy you are looking at and what type of coverage it has. After you review the coverage, if you have questions about the policy then speak with an agent at Colling Insurance Services, Inc. For example, a quote will tell you how much general liability you will be getting per occurrence and how much the total policy will pay for claims filed through the policy year.  

There are some keywords that you should know when looking at the details. The per occurrence limit is the higher amount the policy pays during a single claim. The aggregate limit is the total for the claims paid in a policy period. The deductible is what you will pay out of pocket before you get any insurance benefits. 

Comparing Quotes

If you are looking for a general liability policy in Lakewood, CO, you may get quotes for a business owner’s policy, which has general liability included as well as property insurance and other policies bundled, or you may just have one for general liability. Be sure you are comparing apples to apples and only comparing the standalone liability policies to other standalone policies. Even if you are looking at the same type of policy, don’t just assume you are getting the same amount of coverage. Read carefully about what you are getting. Quotes are not final but they are a pretty good guess on what you will end up getting. 

Contact Colling Insurance Services, Inc. to get a quote on commercial insurance. 

Owning a business comes with many responsibilities. One of these is making sure your workers are protected if they fall ill or are injured while on the job. The best way to protect your employees in Lakewood, CO is by purchasing workers’ compensation insurance from Colling Insurance Services Inc. However, if you are like some business owners, you may not think this is a necessary expense. Keep reading to learn why this is so important.

It’s the Law

Colorado law makes it illegal to not carry workers’ compensation insurance if you have one or more full- or part-time employees. What this means is that if you are the only person working for your company, this insurance coverage isn’t needed; however, once you hire your first employee if you don’t buy it, you are breaking the law. This comes with significant penalties and fines, so make sure to get sufficient coverage to protect your workers.

It Creates a Safer and More Productive Workplace

When you purchase workers’ compensation insurance, you are creating a safer and much more productive workplace. This is because your workers are going to know you care about their well-being and that you are taking steps to ensure they are protected if an accident were to occur.

Protection from Lawsuits

Workers’ compensation insurance isn’t just beneficial for the employees. If you provide your workers with this protection and they begin to receive benefits after being injured at work, it means they no longer have the legal right to sue your business. For many employers, this is a huge relief.

If you are ready to invest in workers’ compensation coverage for your business in Lakewood, CO, make sure to find a company that can help you. Our team at Colling Insurance Services Inc. is ready to help you get the coverage you need for a price you can afford.