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Do I need workers’ compensation coverage at my company?

Workers’ compensation insurance protects employees in case of work-related injuries or illnesses.

On the other hand, since on-the-job injuries carry expenses and civil responsibilities, this insurance protects employers from the inevitable financial and legal consequences.

Workers’ compensation insurance, also known as labor compensation coverage, is required in most states in the United States.

Therefore, this type of business insurance is a useful tool to protect business owners and their employees.

What is workers' compensation insurance?

Workers’ compensation insurance is a type of policy designed to cover an employee’s medical expenses and other losses in the event of a work-related injury.

Workers’ compensation insurance offers employees some benefits if they suffer a work-related injury or illness. These benefits can help cover medical care and lost wages. In addition, this coverage could also include rehabilitation services and death benefits.

Is workers' compensation insurance required in Florida?

Most employers are legally required to carry a workers’ compensation policy.

In Florida, compensation coverage is required by most employers. In addition, it must be provided to employees from the first day of work.

Specifically, in Florida, employers that are required to provide workers’ compensation to their workers are:

  • Construction industry employers with one (1) or more employees.
  • Non-construction employers with four (4) or more employees.
  • Employers in the agriculture industry with six (6) or more regular employees, or with twelve (12) or more temporary employees.

Sole proprietors and independent contractors are not required to have this coverage. However, if this is your case, we suggest that you evaluate the risks of your work. Also, we recommend that you consider investing in labor compensation insurance that provides you with greater protection.

Keep in mind that at Veneville, we can advise and help you find the insurance that your business requires.

What does labor compensation insurance cover?

Workers’ compensation coverage covers medical expenses and lost wages for employees who are injured while on the job. For example, it covers injuries caused by workplace accidents, as well as illnesses caused by exposure to hazardous materials.

It could also cover rehabilitation treatments. It could even include compensation for death from a work accident.

In some cases, it covers accidents if you travel for business.

It should be noted, that certain types of injuries and illnesses are not covered.

What are the requirements to receive workers' compensation in Florida?

In short, to receive workers’ compensation in Florida, the employee must notify their employer of the injury or illness as soon as possible and within 30 days after it occurs. The employer must then report the injury or illness to the insurer.

The employee must seek medical treatment from an insurance-licensed physician to begin documenting the claim.

In general, if the employee misses more than 7 days of work due to the injury or illness, they may be eligible to receive wage loss benefits.

Final words

Whether you’re an employer or self-employed, having workers’ compensation insurance will definitely protect you financially.

This insurance protects injured workers in the first place, helping them get back to health and back to work.

Second, it protects companies by having a mechanism to keep their employees safe and their finances stable.

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Our policies and their coverage are individual and personalized to each specific situation.

At Veneville Insurance, we’d be happy to offer you multiple insurance options.

Contact us!

This Post Has One Comment

  1. Gerardo

    No sabía la importancia del workers comp para mi trabajo como handyman, gracias.

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