Port St. Lucie Workers’ Compensation Insurance Policy Providers

Safeguarding your company from liability for a worker’s injuries is of the utmost importance, regardless of your industry. Achieving this is possible by getting a policy from a Workers’ Compensation provider in Port St. Lucie.

While Workers’ Compensation coverage is important for all companies, it is especially so for small businesses and those in high-risk industries. Furthermore, coverage is mandatory for certain companies that operate in Port St. Lucie. The need for insurance is based on a company’s industry and size. While some companies are exempt from having to get a policy from an insurance provider, going without insurance is never a good idea. Doing so can make you and your company vulnerable to various financial penalties as well as civil litigation from injured employees. When you have insurance, you are protected from such consequences.

To get help from our Port St. Lucie Workers’ Compensation insurance brokers, call NPN Brokers now at (561) 990-3022.

Types of Businesses that Can Benefit from Workers’ Compensation Insurance Policy Providers in Port St. Lucie

All companies can see positive results from working with insurance providers for Workers’ Compensation. That said, small businesses and high-risk companies especially can benefit from the protections afforded by having workplace liability insurance in Port St. Lucie.

Small Businesses

Depending on the type of work performed by employees of small businesses, they may or may not be at an increased risk for workplace injuries. Regardless of the chances that a worker is injured on the job, small businesses can face serious financial difficulties if an accident occurs and they are without Workers’ Compensation. In such instances, small businesses could be held liable for any damages incurred by a hurt worker, such as their medical bills and lost wages. Additionally, work injury lawsuits allow for non-economic damages, whereas Workers’ Compensation claims do not. When small businesses get coverage from a policy provider through our Workers’ Compensation insurance brokers, the possibility of litigation is eliminated. This means that small businesses will not have to risk bankruptcy if a worker is hurt on the job in Port St. Lucie. Instead, their policy providers can pay claims accordingly, and small businesses can be protected from civil action.

High-Risk Businesses

Some businesses are at a higher risk than others for workplace injuries. Take the construction industry, for example. Working in construction requires the use of dangerous machinery and substances that could cause serious injuries to employees. Because of that, construction is one of the most dangerous industries and sees some of the highest rates of on-the-job accidents and Workers’ Compensation claims. Since construction companies and other businesses, such as those in the manufacturing or healthcare industries, are at an increased risk for workplace injuries, getting coverage from a Workers’ Compensation policy provider is a must. Having insurance can allow your high-risk company to more easily handle accidents in the workplace and compensate employees without facing additional financial hardship.

Legal Requirements for Workers’ Compensation Insurance Policies in Port St. Lucie

Getting coverage from a Workers’ Compensation insurance policy provider is not only wise for businesses in Port St. Lucie, but it is required by law for many companies. Florida provides different guidance for companies based on their industry and size.

Construction Companies

All construction companies in Port St. Lucie need to have some form of Workers’ Compensation, even if they employ just one worker. Independent contractors are not permitted in the construction industry in Florida and must operate as a sole proprietorship or other business formation, such as an LLC. General contractors with subcontractors are required to ensure their subcontractors adhere to Workers’ Compensation coverage mandates. If they do not, general contractors can be held liable for workplace injuries sustained by subcontractors. Construction companies without Workers’ Compensation will likely be fined and receive stop-work orders that will remain in place until they secure the proper coverage.

Non-Construction Companies

Most non-construction companies with four or more employees must have Workers’ Compensation policies in Port St. Lucie. This includes various types of non-construction companies, from retail shops to restaurants. Even companies that operate in office environments typically need workplace liability insurance. The fines and civil penalties associated with non-compliance apply to non-construction companies just as they do to construction companies. Financial penalties are typically steep, making compliance essential for non-construction companies in Port St. Lucie. If your company is not legally required to have coverage, it can still get a policy. Doing so will be wise, as workplace accidents can still happen, regardless of the type of work performed by a company’s employees.

Agricultural Companies

Agricultural companies with six or more regular workers or 12 or more seasonal workers have to purchase Workers’ Compensation policies in Port St. Lucie. Working in the agricultural industry puts employees in dangerous working environments and at an elevated risk of injury. Agricultural workers might be more likely to sustain overexertion injuries, repetitive motion injuries, back injuries, and knee injuries. Complying with Workers’ Compensation mandates is important for agricultural companies in Port St. Lucie, as failure to do so could result in civil and criminal penalties for employers.

Exempt Companies

Companies that are exempt from Workers’ Compensation coverage because of their size can still choose to get it. Furthermore, LLC members or corporate officers who previously filed for Workers’ Compensation exemptions can opt to be included in their company’s coverage once again. Having Workers’ Compensation coverage, even when not required to, will protect you and your company from financial responsibility for an employee’s injuries. Getting insurance from a policy provider is typically better than self-insuring in Port St. Lucie, as it absolves your company from liability and allows you to lean on your insurance provider for assistance following a workplace accident.

Call NPN Brokers to Find Coverage in Port St. Lucie Today

Employers can call NPN Brokers at (561) 990-3022 to begin the process of getting coverage with help from our Workers’ Compensation insurance brokers.