Running a staffing agency requires coordinating a lot of moving parts, and sometimes accidental oversights can leave your company vulnerable to claims and liabilities. In order to protect your business, you may be thinking about getting a staffing agency insurance policy. Here are the basics to keep in mind as you look for the right policy for your company.
You May Need Several Types of Coverage
While you may think that having one policy in place is enough, it’s important to make sure that you have enough coverage to protect your company in several different scenarios. In some cases, this may require getting several types of insurance, including:
- Property insurance in the event of damages
- General liability coverage
- Worker’s compensation insurance
- Healthcare insurance, if applicable
- Errors and omissions insurance
Some of this coverage may be required by law, while others are optional but can provide additional protection.
It Provides Financial Peace of Mind
While getting additional insurance involves some up-front costs, you can think of it as an investment in your agency. In the event of a lawsuit, insurance may help cover attorney fees, court costs and any settlements that may arise. Having the right insurance can help provide financial peace of mind.
If you’re looking for a way to protect your agency from liabilities and other potential claims, finding the right staffing agency insurance policy is key. With these basics under your belt, you can find the best coverage for your specific needs.