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Workers’ Compensation Insurance for Your Commercial Real Estate Businesses
While visiting properties, commercial real estate professionals are exposed to many hazards. In addition to the risk of injury while driving from property to property, real estate professionals are most likely to be injured in a trip or fall, whether on a wet floor inside a building or an icy sidewalk outside. Showing large, empty buildings in urban areas at odd hours can leave agents vulnerable to assault. Even office work has its hazards, including repetitive motion injuries from hours spent typing on a keyboard.
Because there are so many risks in this line of work, no commercial real estate business should go without workers’ compensation insurance, which helps your business pay for the cost of any resulting medical expenses as well as some portion of lost income if an employee is hurt on the job. Many states have laws requiring real estate businesses to provide workers’ compensation insurance for their employees.
What Workers’ Compensation Policies Cover
In addition to paying for medical expenses and lost income for injured employees, workers’ compensation policies from Business Insurance Now can also include these added benefits:
- Extended reporting period for other-states insurance
- Employers liability stop gap coverage
- XactPAY® payroll billing solution with pay-as-you go premium charges based on actual payroll
- Access to more than 400,000 healthcare providers experienced in workplace injuries and 53,000 retail network pharmacies nationwide
- Team•Work® return-to-work program and nurse case managers for complex cases
- Help in managing claim expenses by reviewing medical bills and prescription treatments for accuracy
Need Help? Contact Business Insurance Now’s Workers’ Comp Experts
To ensure compliance with state laws, many real estate businesses need help selecting the right workers’ compensation policy and coverage levels. Contact the commercial real estate insurance experts at Business Insurance Now to help you select the right coverage for your business.
What You Need to Know
If your real estate business employs others, be sure to check your state laws regarding workers’ compensation requirements. Some states require companies of all sizes to carry workers’ comp coverage, while others have set a minimum number of employees to trigger coverage mandates.
Locate your state below to visit your state’s insurance web site for information about worker's compensation insurance rules and requirements.
If you're not sure about your state's laws, or impact of the laws of other states in which you or your employees do business, the Business Insurance Now management consulting insurance experts can help. Contact us today.
Get a FREE workers' comp insurance quote now!
Workers' Compensation Tips
- If you’re the sole employee of your real estate business, you still might need to secure workers’ comp coverage. Some state laws require businesses with just one employee to get covered, so be sure you are familiar with the workers’ comp laws in your state.
- If you don’t have full-time employees, but do occasionally use contractors to assist you, you might be required by your state laws to cover those contractors with workers’ comp insurance. This is why many real estate agents require their contractors to carry their own workers’ comp coverage.
- In some states, owners, officers, partners and other company principals can exclude themselves from workers’ compensation coverage, saving money on premiums. Ask your Business Insurance Now agent to help you determine if this would be a good choice for you.