Workers Compensation Information
A business is only as great as its employees. As an employer, you have a duty to train employees and cultivate a comfortable environment with room for growth. One part of that comfort is safety. Even if you do your best to guarantee the safety of all those working for you, some accidents are impossible to avoid. This is why it is crucial to offer workers compensation insurance.
At Nolan Family Insurance, we understand that a workforce is like a family. To help you protect that family, we will help you compare quotes and evaluate risks so you can find the best workers compensation for your employees.
What Does Workers Compensation Insurance Cover?
Workers compensation primarily covers medical expenses related to an employee injury. If one of your employees suffers injury while working, workers compensation can help pay for:
Medical bills may range from emergency expenses such as an ambulance, emergency procedures, doctor’s visits, exams or medical treatment. Compensation for an employee’s medical bills will be paid as they arise and only for medical bills that are directly related to the workplace injury.
Disability benefits may be paid if a workplace injury causes the employee to be unable to work for a certain period. There are four sections of disabilities under workers compensation:
- Partial temporary disability
- Partial permanent disability
- Total temporary disability
- Total permanent disability
The amount of benefits and the times they are paid depend on the severity of the disability.
In case an employee is no longer able to work due to a workplace injury, workers compensation can help replace a portion of the employee’s wages. This amount will be calculated based on the employee’s typical wage and will be paid on the same timeline as their normal paycheck would be paid.
Workers compensation can also cover your business in case of a lawsuit related to a workplace injury.
Insure With Nolan Family Insurance
Employees are more likely to stay at a job where they feel protected and appreciated. Protect your employees and your business by calling us at (941) 639-1122 or fill out an online quote form to get started.
Common Workers Compensation Questions
Workers compensation insurance is a type of insurance policy designed to protect employees who are injured on the job. This insurance provides compensation to the injured employee and protects the business in case of a related lawsuit.
As a rule, most employers must offer workers compensation to employees. Laws differ between states, however. In Florida, most businesses are required to offer workers compensation.
LLCs also require workers compensation. The same rules apply to an LLC as a regular business in that workers compensation requirements differ state to state.
The amount of workers compensation you need may depend on your business’ industry and the amount of people you employ. Businesses with more employees will generally need higher rates of workers compensation.