We all love the calm and cozy restaurant atmosphere. It is total opposite atmosphere in the back of that same place. The chaotic, fast paced and stressful world of the restaurant business can create very hazardous environment. Therefore, it is critical for business owners to have a proper Restaurant Workers’ Compensation Insurance.
How does Restaurant Business Workers’ Compensation Insurance work?
Owning and running a restaurant without offering workers’ compensation insurance coverage is prohibited in California. Small business restaurant owners should familiarize themselves with state regulations where they operate regarding workers’ compensation. Regardless of the regulatory requirement, having workers’ compensation insurance is always a smart business move because it protects restaurant owners from costly liabilities. Moreover, as an added benefit, restaurant owners can generally deduct their workers’ compensation on their federal taxes.
Workers’ compensation insurance covers medical expenses, physical therapy expenses and lost wages for employees who get sick or injured through the course of their work duties. Benefits can also include compensation for economic loss and benefits payable to the dependents of workers who lose their life in the course of employment. It usually does not cover damages for pain and suffering, or punitive damages for employer negligence.
What is Pay-as-You-Go program?
Pay-as-You-Go payment program that allows policyholders to make smaller, more frequent premium payments each payroll period. Furthermore, this program calculates Workers’ Compensation premiums from actual payroll figures you submit, and automatically includes state-mandated assessments, taxes, and surcharges in accordance with state laws. As a result, this new more affordable program can:
- Improve your business’ cash flow
- Provide payment flexibility
- Better your audit experience
- Save you time
Finally, With Pay-as-You-Go program, Workers’ Compensation policy premiums are calculated based on actual payroll each pay period, making it a great option for businesses such as fine dinning restaurants, ice-cream, boba drinks shops, fast food, bakeries, café shops , pizzeria, that tend to staff up during certain times of the year, or any business that experiences fluctuations in their payroll.