What You Need to Know About Workers Compensation Coverage
Do you think you might need Workers’ Compensation Insurance?
Workers' compensation is a form of insurance providing wage replacement and medical benefits to employees injured in the course of employment. Workers' comp insurance is required by law in almost every state. Workers' comp laws are designed to ensure payment by employers for some part of the cost of injuries, or in some cases, of occupational diseases, received by employees in the course of their work.
We have an exclusive partnership with FirstComp to provide worker’s compensation to RV Parks and Campgrounds nationwide
In some states, there are severe civil penalties, and sometimes criminal penalties for failure to provide the coverage for your workers. When Leavitt Recreation quotes your insurance coverage, we examine and will counsel our clients on obtaining the coverage.
With our areas of focus, we can help cover unusual occupations and risks that other agents may be unaware of.
Let Leavitt Recreation and Hospitality Insurance quote your Workers’ compensation coverage today!
Frequently Asked Questions
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Who Needs Workers Compensation Insurance?
Every business does. Many business owners feel that if their employees are independent contractors because they get 1099's instead of W-2's. This does NOT matter.
What matters is whether they do this type of work for anyone else (like a contractor who has their own insurance, vehicle, and tools), and the issue of control where the employer tells them how and when to do their job.
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What is Workers Compensation Insurance?
Workers compensation insurance provides coverage for medical expenses, rehabilitation costs, and lost wages for employees who are injured or become ill at work. This coverage is required by most states and can be the most expensive line of insurance for most employers.
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Do you think you might need Workers' Compensation Insurance?
Workers' compensation is a form of insurance providing wage replacement and medical benefits to employees injured in the course of employment. Workers' comp insurance is required by law in almost every state. Workers' comp laws are designed to ensure payment by employers for some part of the cost of injuries, or in some cases, of occupational diseases, received by employees in the course of their work.
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What is an e-Mod factor?
An e-Mod factor is a rating number that is calculated based upon your workers compensation premiums and workers compensation claims payments and is designed to show what risk level your company is based on similar companies in your industry and location. There are many factors that are gathered and used in the calculation of this factor, but the two specific factors that a business owner or executive can manage and affect are the workers compensation premium and the workers compensation claims payments. Costs of Workers Comp Claims An effective risk management program goes beyond simply purchasing an insurance policy and paying an annual premium. No matter the size of your organization, there are steps you can take to improve the safety of your employees and take control of costs. According to the National Safety Council, the average cost of workers compensation claims is $40,051. In addition to the medical costs, wage replacement, and indirect costs associated with a claim, there is also the negative impact that a claim can have on a company's experience modification (or e-mod) which can significantly increase workers compensation insurance rates for the next three years.
