Workers' compensation insurance isn't just for employees, self-employed individuals and freelancers can benefit too. Freelancers or self-employed persons wondering whether or not they might qualify or even be covered with workers' compensation insurance, discover the answer here.
Today, it seems just about everyone freelances; that is, sells their labor outside of the protection and comfort of a regular employer. According to several studies, more than 33% of American workers freelance. And that that number is growing.
The Cost and Rewards of Freelancing
As rewarding as freelancing can be, some parts of it such as work and income security are scary. Freelancers literally are their work. As more and more people enter the world of freelance, the need for business insurance such as workers' compensation is real.
What Happens If a Freelancer Can't Produce Due to an On-the-Job Accident or Injury?
If he or she is classified as a regular employer, they could rest easily and collect workers' compensation as they recover from their injuries. But getting hurt on the job is more complicated than that for the freelancer.
What Every Freelancer and Small Business Owner Should Know about Workers' Compensation Insurance
Laws, Labor and Loss
Florida Workers' Compensation Insurance Law
Florida freelancers that do not work in the construction or agricultural industries and employ less than four people have two options:
- Do nothing,
- Or elect to be classified as an employee
What Does Workers' Compensation Cover?
How to Determine the Need for Workers' Compensation Insurance
- Has no other source of income outside of work
- Are the sole financial providers
- Work makes him prone to accidents or injuries
- Is in debt
- Has a hazardous job
Any freelancer concerned about their income if they become injured while at work should look into workers' compensation insurance protection. Rates for this valuable coverage vary by individual states, job hazard and classification, claim and loss history.