Contractor Workers Compensation Insurance covers an employee that is injured during the course of work related activities. Contractor Workers Comp Insurance also covers if an employee contracts an illness over the long term effects of employment. In the case of injury or illness, the employer’s insurance company will pay the employee’s benefits.
Workers Comp Insurance is not required in every state. State regulations can vary but generally an employer is required to have Worker Compensation Coverage if they employ 1-5 workers. Because of the litigious society that we live in, it is important to have Workers Compensation Insurance to protect your company. Even if your company does not have Workers Comp Coverage you may be required to pay for employee benefits if an accident occurs.
We provide coverage for all states in the U.S. including Florida, Arizona, California, Nevada, Louisiana, Mississippi, Tennessee, and Texas.
Who is Required to Have Contractor Workers Comp Insurance?
Most states require that all employers, not covered by Federal assistance, have Worker Compensation Insurance or have approved self-insurance if you have more than 1-5 employees. There are some exceptions to this general rule. Officers of corporations are exempt from having Workers Compensation Insurance coverage. Also agricultural operations are exempt from having Workers Comp Insurance coverage on employees.
If an employer fails to meet Worker Compensation requirements there can be significant consequences, even without an accident. State laws will vary but companies can face criminal charges and fines. The fines and charges can be extended to the officers individually.
Benefits Covered Under Contractors Workers Comp Insurance
Contractors Workers Compensation Insurance pays for all medical treatment that is necessary to cure or relieve the effects of the injury or illness. The benefits are to be paid by the insurance company or the employer if there is no Workers Comp Coverage. Benefits will be paid to the employee for doctor services, hospital bills, physical rehabilitation, dental care, prescriptions, x-rays, lab services, and all other treatments ordered by the treating doctor. The employee is also able to receive reimbursement for travel to and from medical visits.
Temporary Disability benefits are paid out if it is determined an employee is unable to work due to the work related injury or illness. Employees cannot receive Temporary Disability until they are off of work for 14 days. State law determines the amount of benefits that an employee is able to receive. Most states give injured employees 2/3rds of the employee’s weekly salary with a minimum of $126.00 per week and a max of $490.00 per week. Workers Comp Insurance benefits stop when the injured employee returns to work.
Permanent Disability is when an employee is unable to compete for a job on the open market due to injury or illness. The amount of compensation depends on the type and extent of the disability. Date of injury, age when injured, and occupation are all factors in determining the benefits an employee is able to receive.
Vocational Rehabilitation benefits are paid if the employee in unable to do that job they had before the injury or illness. The employee is able to receive the benefits as long as they are taking part in vocational training.
Contractors Worker Compensation Insurance benefits pay injured employees for their time and travel to and from medical visits.
Death Benefits are paid to the employee’s dependents or estate. Death benefits are paid similar to temporary disability benefits.
For an immediate answer to a General Contractor Insurance question, give us a call at 1-800-329-2040.