As a Florida business owner, you are required to obtain various types of insurance. You need business insurance to keep your business afloat, auto insurance for all of the vehicles in your fleet, and you also need to have Florida Workers Compensation Insurance if you have any employees on your payroll.
Many people make the assumption that if they only have a few employees that they can skip this form of insurance. This is not accurate and not a good idea in any capacity. This form of insurance is important as it will protect your employees in the event that they are injured on the job. Contact us for more information at 1-800-554-9142, or click here: https://www.moranfinancialsolutions.com/contact
You are required to provide proof of coverage. How much you pay is based upon the industry that you are in as well as the number of employees that you have working for you.
FLORIDA WORKERS COMPENSATION VIDEO:
If and when an employee is injured at work or while on the clock, they are able to make a claim. It has nothing to do with fault. It could have been their failure to wear the PPE that you provided them. If it was done at work, they are able to make a claim and the Florida Workers Compensation Insurance is what will provide compensation to them.
This will allow employees to receive an array of benefits. They will be able to get help with medical expenses, disability, and in the event of a death, coverage for their families. The Office of Insurance Regulation will regulate the rates, forms and determine the level of coverage that you require.
Employees want to feel safe while they are at work. This means you will want to provide PPE to them so they can wear it and avoid injury. It also means you will want to provide training so everyone knows how to perform their job responsibilities without injuring themselves.
The Florida Workers Compensation Insurance provides your employees with peace of mind knowing if something does happen, they have the benefits to be able to go to the doctor for a checkup, get the prescriptions that are needed to make a healthy recovery, and have some kind of insurance if they are disabled for a short term, or even for the long term. They will get these benefits regardless of whether they have health insurance on their own.
It’s not uncommon for employees to injure themselves and this is why there is Florida Workers Compensation Insurance and why it’s required of you. The more claims that are made from your business, the more it can end up costing you from year to year. It’s to provide your employees with the needed assistance, but it’s a good idea to focus on training so you can keep the cost of this insurance as low as possible.