Are Businesses Required to Have Workers’ Comp in Florida?

Businesses in Florida are required to get workers’ compensation insurance if they operate in certain industries and employ a certain number of people. According to the state’s workers’ compensation laws, most businesses must provide a workers’ comp policy for employees. If you are the owner of a business in Florida, keep reading to learn whether you are required to get a workers’ compensation policy for your employees and how the Florida workers’ compensation brokers at NPN Brokers can help you find the right policy.

Requirements for Workers’ Comp Insurance in Florida

Figuring out whether your company is in need of a workers’ compensation policy in Florida can be difficult. Whether or not a business is required to have workers’ compensation insurance depends on the industry that the business does work in and the number of employees that they have. If a business is part of an industry not related to the construction or agricultural industries, they must get workers’ compensation insurance for employees if they have more than four workers. Business owners, corporate officers, general contractors, and subcontractors are considered to be employees, but sole proprietors and independent contractors are not.

Businesses that are in the construction industry (or a construction-related industry) must have workers’ compensation insurance if they have even one employee. Construction-related industries are those involving work that is similar to construction, including landscaping and tree removal, plumbing, electrical work, carpentry, and many other fields. If you would like to check whether your business is part of a construction-related industry, consult the Florida Administrative Code.

Businesses in the agricultural industry must obtain workers’ compensation insurance if they have more than six year-round employees or more than 12 seasonal employees – those who work at least 30 days in one season but no more than 35 days in the calendar year.

While almost all businesses in Florida must have workers’ compensation policies, not all policies are priced the same way. Businesses in fields that have a high chance of injury will be charged more for their policies. The price of a workers’ compensation policy is determined by the National Council on Compensation Insurance and depends on the level of risk associated with a certain job, as well as whether or not the business in question has filed claims for policies in the past. Since jobs in the construction industry are much riskier than jobs in other industries, their policies cost more.

Why Workers’ Compensation is Important for Florida Businesses

It’s important for businesses to have workers’ compensation insurance for employees because it protects both the business and its workers: Businesses are shielded from lawsuits while employees can more easily get compensation for injuries that they suffer while on the job.

In Florida, workers’ compensation policies can provide employees with compensation for their medical costs (such as rides in ambulances, medical equipment, prescription medications, visits with physicians, stays in the hospital, and surgeries) and a partial amount of the wages that they lose while they are unable to work. The families of employees who died while working may also receive up to $7,500 toward the cost of the funeral, as well as payments for dependents. Compensation for pain and suffering is not included in a workers’ compensation policy.

Employees covered by a workers’ compensation policy should note that there are some limitations to receiving coverage. While employees can receive benefits through their policies regardless of whether or not they are liable for the injury, there are some circumstances that make them ineligible to benefit from workers’ compensation. Employees who intentionally hurt themselves in an attempt to get benefits will be ineligible for those benefits. Workers will also be unable to receive benefits if they were intoxicated at the time of their injury or if they failed to adhere to safety protocols.

Businesses should also be aware that there are potential penalties for not having a workers’ compensation policy, and they can be severe. If a business fails to get a policy for its employees, they may face a fine that of either $1,000 or twice the amount that they would have paid in premiums. It’s also possible for businesses that don’t have workers’ compensation policies to be issued a stop-work order. This will require them to cease operations until they get a policy for their employees.

One of the most severe penalties that a business can face for not offering workers’ compensation is a lawsuit from an employee who was injured on the job. Injured employees who are not protected by a workers’ compensation policy may be forced to sue to recover compensation for medical bills, lost wages, and pain and suffering.

Finding a Quote for a Workers’ Compensation Policy

It can often be difficult for businesses in Florida to find workers’ compensation policies that they can afford; even though most businesses must have a workers’ compensation policy, insurance companies have the option to deny coverage to businesses that seem too risky. However, with the help of NPN Brokers, finding a good policy can be quick and easy. If you visit the NPN Brokers website, simply enter some basic information about your business, including the kind of work you do and number of employees, and you can get a quote on a policy in a matter of minutes.

NPN Brokers Can Find Your Business a Workers’ Comp Policy Today

Florida business owners in need of a workers’ compensation insurance policy are encouraged to get in touch with NPN Brokers to find a quote on a policy that can provide comprehensive coverage for employees at an affordable rate. With NPN Brokers, you can get a quote in just a few minutes and secure a policy within hours. Call NPN Brokers today at (561) 990-3022 to learn more.