Workers’ Compensation Insurance in Labelle, Florida
Protect your business from employee injuries & illnesses
Florida law requires most employers to purchase workers’ compensation coverage. Under a workers’ compensation policy, employees are compensated for occupationally incurred injuries, regardless of fault. This coverage makes employers immune from some injury lawsuits by employees.
What is the Purpose of Workers’ Compensation Insurance?
These regulations help ensure that employers cover the costs of work-related injuries or diseases, regardless of employee carelessness.
An employee is only eligible for benefits if his or her injury or illness is related to their job duties or employment. Workers’ compensation insurance may cover injuries sustained while lifting heavy equipment, slipping on a wet or oily surface, or being injured in a fire or explosion.
Workers’ compensation insurance will not cover an employee who is injured while acting outside the scope of their employment, such as playing football with friends on a day off.
Who Needs Workers’ Compensation Coverage?
Workers’ compensation insurance is required by law in Florida. There are some worker exemptions, so check with your state to see if coverage is required for your business.
Choosing to forego workers’ compensation coverage exposes your company to significant financial risk. You may face a lawsuit for workplace injuries, as well as a fine for breaking the law.
Keep in mind that workers’ compensation insurance protects both your employees and your small business. For example, if your insurance meets state requirements, an employee who receives benefits cannot sue you for their injuries or lost wages.
They can, however, sue you for things that aren’t covered under the workers’ comp portion of your policy. Employer’s liability insurance is also included in your policy to cover court costs and legal fees if you are sued.
What is the Cost of Workers’ Compensation Insurance?
Progressive’s national median cost for workers’ compensation insurance in 2021 was $65 per month. The monthly average was $111.
A lower median cost indicates that outliers inflated the average premium, making it appear higher than what most policyholders paid. Your rate will be determined by specific aspects of your business, such as your state, payroll, and claims history.
Clewiston, FL Most Trusted Workers Compensation Insurance Agent
Check with Florida Workers Compensation Insurance at John Perry’s Insurance to guide you through the Florida State Workers Compensation Laws and Requirements.
As an independent insurance agency we represent several top rated workers compensation insurance companies and can get you the right coverage that fits your business insurance budget.
Contact us today to answer any questions about worker’s compensation insurance or for a free review and insurance quote for workers compensation insurance.