The most expensive mistake is thinking workers' comp is your only exposure. In Mississippi, the worst-case cost is six or seven figures if you should have carried workers' compensation and did not.

If your business has 5 or more regular employees, Mississippi generally requires workers' comp coverage through the Mississippi Workers' Compensation Commission. Construction has stricter rules. If an employee gets hurt hydroplaning into a pole, slipping on storm debris, or being hit in a Hattiesburg shopping-center lot while working, no coverage can mean paying medical bills, lost wages, penalties, and a civil lawsuit out of pocket. That is where businesses get crushed.

When things go better, they go better because the claim stays where it belongs: workers' comp first.

With valid coverage, an injured employee usually cannot sue the employer for ordinary negligence. The claim is typically limited to comp benefits, which can include:

• All reasonable medical treatment
• Wage-loss benefits if the worker misses time
• Permanent disability benefits if the injury lasts

That does not mean the claim is cheap. Your insurer may raise premiums, and a serious back, knee, or head injury can still become expensive. But that is very different from writing personal checks for a lawsuit.

Another myth that costs owners money: a parking lot wreck is "just a car insurance problem." Not always. If the crash happened during work, comp may apply even on private property like an apartment complex lot or retail center near U.S. 49 or Hardy Street.

There may also be a third-party claim against the property owner, another driver, or a contractor that left debris during hurricane season cleanup. That can shift part of the financial hit away from your business.

Mississippi deadlines matter. Employees generally must give notice within 30 days, and disputed comp claims often must be filed within 2 years. A separate injury lawsuit against a third party usually has a 3-year deadline.