Workers Compensation Insurance

Workers Compensation Insurance Quote Form

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Workers Compensation Quote

Workers Compensation Insurance Information

Moody Agency Workers Compensation
Workers compensation regulations were created to protect employees who are injured while on the job. In the event of an on the job injury, employees are provided with fixed monetary awards. This works to eliminate unnecessary litigation and makes the process considerably easier for employers and employees. It has also helped to control the financial risks facing employers. Many states currently set a limit to the amount an injured employee can recover from an employer.

Moody Agency workers compensation policies are designed to help companies pay these benefits. In order to protect workers, a majority of state governments require that businesses carry some form of workers compensation insurance. It is important to note that workers compensation insurance is not health insurance, and it serves a unique purpose. Workers compensation is specifically for injuries that have been sustained on the job.

If you have employees, carrying workers compensation coverage is strongly advised. Even in states where it is not mandatory, compensation coverage is a sound financial decision, especially if you have a number employees, or if your employees are engaged in hazardous activities.

Does my business need workers compensation insurance?
Employers have a legal responsibility to make the workplace safe for their employees. Despite the best precautions, accidents still happen.

In almost every state, legislators require employers to buy workers compensation insurance. This works to protect businesses from legal action resulting from on the job accidents, and it provides employees with the security of medical care and fair compensation for any lost income resulting from their injury. Workers compensation insurance policies cover workers injured on the job, whether they are hurt on the premises of the workplace or elsewhere, or in auto accidents while on business. These policies also cover work-related illness.

Workers comp provides payment to injured workers for time lost from work, and for medical services and rehabilitation, regardless of who was at fault in the resulting accident. The coverage also will provide benefits to surviving spouses and dependents in the event of a death.

Laws governing the amount and duration of lost income benefits, medical services, rehabilitation, and how the workers compensation system is administered differ on a state-by-state basis. Although business owner policies are often sold as packages, they do not include coverage for injured workers. Workers compensation insurance policies must be bought separately.

For a comprehensive and insightful overview of how workers compensation insurance may help minimize risk for your organization, please contact a Moody Agency representative today.

The Moody Agency has specialized in insuring risks for local businesses in Sarasota and Charlotte counties since 1959. Employers in Southwest Florida help to drive our growing communities, and we will be happy to help your organization protect your employees and your organization’s long-term financial security. To contact us directly, please write to us or phone an agent today: Contact Moody Agency. For our Venice office, please call (941) 493-1583. For our North Port office, please call (941) 429-8801.