Workers Compensation Insurance
Coverage Based On Your Needs
Because everyone’s needs are not the same, it is best to consult your agent to help assess your needs and find the insurance policy that is right for you.
Workers Compensation Insurance At A Glance
It is important to know that Business and Commercial Insurance is meant to cover unexpected issues, not routine occurrences. Speak with your agent about what is covered and be sure to read your policy so you know exactly what’s included and what is not.
Workers compensation laws were created to ensure that employees who are injured on the job are provided with fixed monetary awards. This eliminates the need for litigation and creates an easier process for the employee. It also helps control the financial risks for employers since many states limit the amount an injured employee can recover from an employer.
Workers Compensation Insurance is designed to help companies pay these benefits. As a protection for employees, most states require that employers carry some form of Workers Compensation Insurance. Workers Compensation Insurance is not health insurance. Workers Compensation is designed specifically for injuries sustained on the job.
In most states, if you have employees, you are required to carry Workers Compensation coverage. Even in non-mandatory states, it can be a very good idea, particularly if you have many employees, or if they are engaged in hazardous activities.
Employers have a legal responsibility to their employees to make the workplace safe. However, accidents happen even when every reasonable safety measure has been taken.
To protect employers from lawsuits resulting from workplace accidents and to provide medical care and compensation for lost income to employees hurt in workplace accidents, in almost every state, businesses are required to buy workers compensation insurance. Workers compensation insurance covers workers injured on the job, whether they’re hurt on the workplace premises or elsewhere, or in auto accidents while on business. It also covers work-related illnesses.
Workers compensation provides payments to injured workers, without regard to who was at fault in the accident, for time lost from work and for medical and rehabilitation services. It also provides death benefits to surviving spouses and dependents.
Each state has different laws governing the amount and duration of lost income benefits, the provision of medical and rehabilitation services and how the system is administered. For example, in most states there are regulations that cover whether the worker or employer can choose the doctor who treats the injuries and how disputes about benefits are resolved.
Workers compensation insurance must be bought as a separate policy. Although in-home business and business owners policies (BOPs) are sold as package policies, they don’t include coverage for workers’ injuries.
Your Independent Agent is an advocate for finding Workers Compensation insurance that meets your specific needs. Here are a few things to consider as you prepare for the discussion:
- How much can you afford to pay if you get in an accident? (To keep premiums low you may want to have a higher deductible and be willing to pay more for repairs.)
- What discounts are available? (Ask about good driver, multiple policy and student discounts.)
- What’s the procedure for filing and settling a claim? (Ask who to call and what happens after you file a claim.)
If you’re looking for Workers Compensation Insurance, please let us know. We can assist you!
Team Barfield is a member of the Barfield Insurance Agency. Our office is located in the Publix shopping plaza at the corner of Spirit Lake Rd and 540 W in Winter Haven FL. Our office has more than 30 years of combined insurance experience.
At Team Barfield we exist to serve our customers! We offer competitively priced products and outstanding customer service. Let us give you a free second opinion on your insurance portfolio.
Whether you’re looking to protect your home, your car or your business, we’ve got you covered…
