When you have a business of any size, it’s important to have workers’ compensation insurance, often called workers’ comp, for your employees. In Florida, your business must get workers’ comp for its employees if you have four or more workers. They can be either part-time or full-time. An exception is for the construction industry which requires it for all companies and employees. If your business needs workers’ comp coverage, call us now at Hamilton Fox & Company Inc. in Pinecrest, FL.
When you have employees, it’s possible for them to be injured on the job. Unless they are working from home, this means that you can be held liable for the injury that happens in the workplace. The same is true for work-related illnesses that they get from being at work. The medical bills that result from such an injury or illness will have to be paid, and if you have workers’ comp insurance, it will be the policy that pays those bills.
This protects your business by making funds available for those medical bills so that your business won’t have to come up with them. It is also helpful because it generally means that the worker can’t sue you, as the policy pays for the bills. The insurance also pays for things like lost wages and some legal costs that may come up.
Protection for Employees
This type of insurance is needed to protect your business, but it also provides protection for your employees. If they should become sick or injured at work, they are guaranteed that there will be money there to pay the medical bills and other expenses. It also helps that they won’t have to sue the employer to get what they need for those bills.
Get Workers’ Comp
If you have four or more employees, or you are in construction, don’t go without the mandated workers’ comp coverage. Give us a call at Hamilton Fox & Company Inc. in Pinecrest, FL.