Types of employee benefits to consider

Types of employee benefits to consider 

Having employees in your business or company means finding ways to retain them. One of the best ways to retain talents is by offering employee benefits. While some benefits like workers’ compensation are required by the law, some are more critical than others.

 At Saucon Insurance Agency, we recommend assessing the nature of your business to know the type of workers you need and the types of benefits that fit them. Here are the specific employee benefits to consider for your business in Bethlehem, PA.

Medical insurance

Your employee’s health should come first. You don’t expect a worker to be productive when they are unwell or unable to meet their medical expenses. While both parties contribute medical insurance, it is meant to benefit the employees and their families.

Workers compensation

Workers’ compensation in Pennsylvania requires some employers to carry the policy to protect their workers. Employers who do not have the policy and are required to have one can be sued by their employees and be prosecuted by the commonwealth. Exempted employees like railroad workers and federal employees do not need workers’ compensation as they are already covered under other workers’ compensation acts. The policy covers employees for the entire period of their employment.

Life insurance

Life insurance is designed to protect your employees’ families in case an employee dies in the line of duty. The death benefit paid by the insurance company is given to the spouse or the children to cater to their needs, especially if the employee was the breadwinner. Employees can also determine who they want to be their primary beneficiaries.

Disability insurance

Disability insurance is a special type of insurance meant to replace part or all income lost when a worker is unable to work due to an illness or injury sustained while working.

To learn more about employee benefits in Bethlehem, PA, feel free to call or visit us at Saucon Insurance Agency, and we will be happy to assist you.

How Does Commercial Insurance Work?

There are very many business owners in Bethlehem, PA, who do not have commercial insurance. These entrepreneurs are not ignorant. It is not that they do not appreciate the benefits provided by commercial insurance. The problem is that they do not know how it works. Saucon Insurance Agency is a friendly company that helps business owners to get a detailed understanding of commercial insurance policies.

How Does It Work?

Generally, commercial insurance is just like any other insurance policy. However, it involves a contract between a business and an insurance company to cover for possible financial losses that are likely to face a company in its business.

In case the company experiences losses on covered aspects, the insurance company is expected to cover all the losses. However, just like any other insurance policy, the insurance company must establish the cause of the loss. 

What Does It Cover?

Commercial insurance can cover every other aspect that can bring losses to a business. Most business owners perceive that it can only cover fire, flood, and theft. This is not the case. There is no limit to what a commercial insurance policy can cover and what it cannot cover.

There are some very comprehensive commercial insurance policies that cover almost anything that can have a financial impact on an organization. It all depends on the agreement and the items that the two parties have agreed to consider in their contract.

Some common issues to be covered included professional liability, business downtime, worker’s compensation, loss of income, and product liability.

Are You Looking for Commercial Insurance?

As you can see, commercial insurance covers your company in different areas depending on the agreement. That is why you need to have the best commercial insurance company in Bethlehem, PA. Saucon Insurance Agency knows everything you need and will help you get the insurance that comprehensively covers your business. Contact us today for more information.