Is Workers Compensation Insurance Required in Florida?
This insurance is required in Florida if you are a business that has more than four employees. These employees can be either be full time or part-time. Whether or not a self-employed worker needs workers comp will depend on the nature of work. The law requires self-employed workers in the construction industry to carry this insurance.
If you are in an industry that has a physical risk and don’t have any employees, you may still want to have this coverage. If you were to get injured on the job, then workers comp coverage helps with lost wages and expenses that wouldn’t be covered under a regular medical policy. An agent at 925 Partners in Jacksonville, FL can help you determine if you need workers comp. Employers that don’t have required workers comp insurance can risk civil penalties.
What Does Workers Compensation Insurance Cover?
Workers comp insurance will cover expenses that come with employees’ work-related injuries or illnesses. This can include immediate costs, such as an ambulance ride, and long-term costs like lost wages. There is a portion of the insurance that will cover legal fees if an employee wants to sue.
- Medical Costs: Sometimes, accidents happen, and if an employee is injured and needs medical attention, then the employer can be held responsible for covering the costs.
- Lost Wages: If your employee is out of work for a while, then most laws still require you to pay for a portion of the missed wages.
- Ongoing Care: If a work injury is severe enough that an employee needs ongoing care, you could be held responsible for this, and workers comp covers this.
- Death Benefits and Funeral Costs: If a work tragedy ends in death, insurance can cover the funds for funeral expenses and some death benefits.
- Legal Costs: You could face a lawsuit if an employee is hurt at work, and the cost can be expensive.
Contact 925 Partners, located in Jacksonville, FL, to get a quote on workers compensation insurance for your business.