Condominium Association Insurance – Workers’ Comp
Those that are employed by your condominium association need to have the proper policy coverage
When an employee is hurt while working for your condominium association, workers comp insurance is what takes over the claim. While you are not required to have workers comp insurance if you have three or fewer employees, it is important coverage to carry regardless of the number of persons that you are employing. Your condominium association could employ as few as two employees or as many as 100 employees. It only takes one person to have an on the job accident, and if you do not have the proper workers comp insurance, the association will be held responsible for medical and additional expenses.
What if my condominium association has no employees?
Workers comp insurance is still smart to have for your condominium association, even if you have no employees on your books. Why? Independent contractors who do not have their own worker’s comp insurance that has been verified by your association. If you do no take the necessary steps to verify this information, your association may be the one paying the medical expenses.
This is when a worker’s comp “IF ANY” policy comes into play. It’s a cheap way to protect your condominium association from any vendors or independent contractors who are on the property without their own coverage.
One option to help protect Condo Associations that do not have any employees is a workers’ compensation “IF ANY” policy. This is an inexpensive policy that helps to protect the Association from contractors or vendors that come on to the premises and do not their own workers’ compensation coverage.
Let the Florida insurance agents at Marvel Insurance discuss all the different worker’s comp insurance options with you!