Workers’ Compensation Insurance for Real Estate Employees
Employees in a real estate environment face physical injury risks every day. Real estate, rentals and leasing is an active sector of the U.S. economy, with the number of establishments listed at 382,325 as of Q1 2017, according to the Bureau of Labor Statistics.
Whether they specialize in sales, rentals or leasing, and no matter whether the company services a residential or commercial market, potential hazards real estate employees face include traffic accidents while commuting to or from meetings with clients or slips and falls on premises.
With an effective policy in place, however, a real estate business is covered for medical expenses and lost wages.
Types of Work
Occupations covered under this type of insurance include anyone who works indoors or outdoors to manage, repair or maintain the property on behalf of the owners, landlords or tenants. For example:
Office Workers
This category of employees comprises staff who work in the offices of the real estate companies, whether these are on-site at the premises being managed or in the administrative offices.
Even if the staff mostly perform their duties in the safety of their office, accidents can happen at any time. A trip over a computer cable could result in a broken bone.
Property Management
Employees who perform property management functions also require insurance coverage for any accidents that happen during the course of their work. This includes facilities managers, premises security officers, janitorial staff, building superintendents, and community association managers.
Landscape Contractors
In many states, part-time contractors are also required to have workers’ compensation coverage. Outdoor workers performing tasks such as landscaping, irrigation, and snow removal also face potential hazards, from the use of equipment and regular activities such as moving around outdoors.
Workers’ Compensation Insurance Coverage
If an employee or contractor is injured while in the employ of a real estate company, workers’ compensation insurance helps a business pay for costs associated with medical expenses resulting from the injury, as well as a percentage of lost income while the employee recovers. It may also include additional benefits such as:
- Access to healthcare providers who are experienced in treating and managing workplace injuries
- Assistance in the management of claims, by ensuring medical bills are accurate and patients are not being “over-treated”
For exceptional service and efficient claims management, and to get advice on workers’ compensation insurance for real estate that works for you, contact First Benefits Insurance Mutual today.
