Workers Compensation Insurance
Workers compensation insurance is mandatory in Minnesota.
In order to meet state guidelines in MN, all employers must purchase workers compensation insurance. There are some limited exceptions listed in Minnesota Statutes 176.041, but in general if you have people working for you, you'll need workers comp.
Workers compensation insurance covers any work-related injuries or illnesses that your employees suffer. They do not have to be in your physical company building at the time the incident happens; it only has to be job-related. They could be out running an errand or on a business trip, for example.
Some think of workers compensation as insurance that is really only needed for Minnesota businesses where employees do manual labor, like construction or welding. It is true that these professions are known to be a bit more dangerous than other more sedentary jobs, but workers compensation also covers individuals that suffer injuries from performing repetitive motions like typing at a computer all day.
Workers compensation insurance is a win/win for both employer and employee because the employee is well-taken care of after an accident, and the employer will hopefully be able to get the worker back on the job sooner.
If you own a business in MN and would like to consider your options for workers compensation, call Preferred Insurance Services at 877-410-3144 or fill out our online form for a free quote.