Workers’ Compensation Protects Your Business and Your Employees
Workers’ compensation insurance protects your business from lawsuits related to work-related injuries. Workers’ compensation insurance pays financial support for an employee’s medical costs and lost wages in the event of a workplace injury. In exchange for this monetary assistance, your employees waive the right to bring a lawsuit against your company. Workers’ compensation not only provides much-needed protection for your business, but it is also legally required for many small businesses. If you operate a construction business with more than one employee or any other type of business with at least four employees, you are most likely required to pay for workers’ compensation insurance. At FA Insurance Services Corp., our certified agents know the ins and outs of workers’ compensation requirements in Florida. We can help you find a policy that meets state requirements to keep you and your employees protected when the unexpected occurs. If you operate a business in Cutler Bay, Doral, Homestead or surrounding areas, contact FA Insurance Services Corp. for a free quote today.
How Much Will Workers’ Compensation Cost?
The premium you will pay to cover your employees is primarily dependent on three factors:
- The type of work your employees perform
- Your claims history
- Your company’s payroll
You should note that your company is solely responsible for the premium paid to maintain workers’ compensation insurance. Unlike group health insurance premiums, your employees cannot legally pay for any part of your premium. There are certain discounts available to some employers who enroll in safety and drug-free programs at work to reduce the likelihood of work-related accidents. Your FA Insurance Services Corp. agent will determine if you qualify for these and other discounts.
What Types of Incidents are Covered?
Even the most minor injuries are usually covered through your workers’ compensation insurance. It is of utmost importance that you encourage your employees to report any incident as soon as possible to be eligible for coverage. You will need to file a First Report of Injury or Illness with your workers’ compensation company within seven days of any incident for evaluation or risk.
Workers’ compensation covers incidents including:
- Workplace accidents resulting in injury
- Occupational injuries that occur over time because of work requirements or environment
- Disease and infection that result from an injury caused in the workplace
Workers’ compensation claims vary greatly, from carpal tunnel syndrome or back pain that results from repetitive motion or sitting at a desk, to accidental death or dismemberment in a serious accident. Workers’ compensation generally will not cover incidents in which an employee intentionally harms himself or herself or is unable to obtain medical confirmation of an injury. If your employee fails to follow procedural safety rules, he or she may receive less compensation.
Safety First, with a Plan B
By providing regular safety training and ensuring employees carefully adhere to your safety regulations, you can take the first step to avoid injury. Our FA Insurance Services Corp. agents can direct you to resources to evaluate your operations and design a safety plan for your business. If an injury does happen, we are here to help. Our agents are here to help our clients in Cutler Bay, Doral and Homestead with any questions or concerns. We stay informed on workers’ compensation plans available in our area and provide you with options catered to your needs. Whether you are just starting a business or exploring other workers’ compensation policies, contact us for a free quote today.