Workers' Compensation is required by most states if your business has employees. This covers your employees if they become ill or injured while performing their duties in the course of their job responsibilities. Accidents (including auto accidents), and all kinds of on the job injuries are covered.
Did you know medical expenses for work-related employee auto accidents are the responsibility of the employer?
So, who qualifies as an employee? Hourly or 1099 only W2 regular wage earners?
Hint: Simply paying someone on a 1099 basis makes no legal or insurance distinction. You may be surprised to know some individuals legally qualify without a weekly paycheck, and the business is responsible for their Workers' Compensation!
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Very Important example: Florida law requires all employers to be financially responsible for any/all employee accidents, illnesses and injuries regardless of the number or type of employees. Thus, business owners are required to purchase Workers' Compensation coverage (with only a few exceptions which we will cover below). Under a Workers' Compensation policy, employees are fully insured for medical expenses and compensated for occupationally incurred injuries, regardless of fault.
One important benefit of Workers' Compensation is most states have laws protecting businesses who properly insure employees to protect them from many personal injury negligence lawsuits from employees.
Think about it...
Workers' Compensation is more than just insurance!
Regardless of the number of employees, every business is 100% responsible for any and all job-related employee accidents, injuries and illnesses. That’s why Workers' Compensation insurance is good business for every business.
As an employer, YOU are the one who pays for the employee’s injuries. STOP thinking of Workers' Comp as Insurance!
More importantly, having Workers' Compensation insurance helps to protect employers from employee injury lawsuits, both real and groundless. Get Covered NOW