Workers Compensation Insurance

Accidents happen! As an employer or business owner, you’re required to protect your employees with workers compensation insurance to cover on-the-job injuries. Workers comp insurance pays medical expenses and compensates for wages lost due to the employee being unable to work.

Florida workers compensation essentials

Florida law requires all employers and business owners to purchase workers compensation insurance so they’re able to compensate workers for injuries that occur while on the job. Because significant on-the-job injuries usually result in time away from work, compensation occurs regardless of who’s at fault.

By law, Florida ensures that employees receive benefits not only for medical expenses but also for disability or death that occurs on the job.

That’s not all. Workers comp insurance also gives employers immunity from certain types of lawsuits employees may file as a result of injuries that occur on the job. Workers comp, therefore, has the effect of creating a more secure workplace both for employees and employers.

Common workplace injury scenarios

To understand how important these types of protections are, take a look at these common workplace injuries. Just because you don’t think it will happen to you doesn’t mean it won’t!

According to U.S. Department of Labor and Occupational Safety and Health Administration statistics from 2015-16, More than 10,000 severe work-related injuries occur on the job every year. Almost 8,000 hospitalizations occur — and more than 5,000 fatalities! As a business owner, you want to make sure you’re protected to the fullest extent possible in the event one of these unfortunate circumstances occurs in your workplace.

Workers comp insurance covers everything from basic “slip-and-fall” accidents to occupational hazards like repetitive motion injuries. The workplace can also be a source of employee diseases and illnesses, and workers comp protects against those too. But most workplace injuries are familiar:

• Sprains and other strains and tears — 37%
• Other — 21%
• Pain and soreness injuries — 16%
• Bruises and other contusions — 9%
• Fractures — 9%
• Cuts and other lacerations — 9%

Common coverages

Your Lee Crane insurance professional will walk you through the various injury scenarios associated with your types of business to ensure you get the right protection. Here’s what workers comp insurance commonly protects against:

• Hospital, medical, and rehabilitation expenses
• Compensation in return for wages lost due to workplace injury
• Long-term disability protection
• Funeral cost compensation
• Legal expenses
• Death benefits