Workers Compensation Insurance
Workers compensation insurance is designed to provide for employees who are hurt while on the job. Those who suffer any sort of injury that is causally related to work activities will qualify for workers compensation benefits. This state mandated insurance program provides funding for medical treatment and lost wages for those injured while working.
The Ins and Outs of Workers Compensation Insurance
Workers compensation insurance benefits both employees and employers. While the benefits to employees are fairly straightforward, many struggle to understand how this insurance helps employers. For one, it promotes a rapid recovery to facilitate a quick return to work. Every employer deserves a fleet of healthy employees who are ready to work as hard as they can. Workers compensation insurance also decreases the employer's liability for injuries suffered by employees while on the job. Physical labor is required in numerous industries. When employees performing difficult or repetitive physical tasks, there is an increased chance that they will suffer an injury. If employers had to pay out of pocket to compensate employees for all of these injuries, it would be difficult to stay in business.
As an example, envision an employee who works for a moving company lifting and carrying heavy items out to his employer's moving truck every single day. One day he attempts to lift a couch with his co-worker and throws out his back. Instead of allowing employees like this one to sue the employers for medical expenses, lost wages and other damages, this employee can rely on workers compensation insurance to pay for his medical bills and lost time until he is physically able to return to work. It is a mutually beneficial insurance program for both employers and employees.
Workers Compensation Insurance is Necessary for Every Business
Just about every state requires businesses to obtain workers compensation insurance. While employers have to pay for part of the cost of injuries and occupational diseases suffered by employees, it is much cheaper than dealing with an array of employee lawsuits that would be filed if the employer didn't have workers compensation insurance. It is important to note that workers compensation insurance also covers illnesses suffered as a result of exposure to harmful workplace conditions. The scope of this insurance is not merely limited to strictly physical injuries.
What to Look for in a Workers Compensation Insurance Provider
When searching for a workers compensation insurance provider, it is prudent to find one with a myriad of risk control services and the resources available to quickly resolve claims. An insurer that resolves your claims as fast as possible and at as low of a cost as possible will boost your workplace productivity. When you team with an elite workers compensation insurance provider, you'll enjoy a lower cost of risk and your employees will miss fewer days.
Contact Florida Coastal Insurance Today for a Workers Compensation Insurance Quote
If you own or manage a business, it is in your interest to contact Florida Coastal Insurance for a workers compensation quote. We offer competitive rates and lightning quick claims processing with the goal of helping your injured employees return to work as soon as possible.