Do Plumbers Need Workers’ Compensation Insurance in FL?
As a plumber in Florida, you need to learn about your Workers’ Compensation insurance requirements. If you don’t have coverage when you need it, you can face serious financial consequences in Florida.
Since plumbers are considered part of the construction industry in Florida, plumbing businesses must purchase Workers’ Compensation insurance, regardless of how many people they employ. Coverage is also required for plumbers who work as independent contractors. Failing to purchase Workers’ Compensation coverage can result in fines and cause plumbers to be financial liable for an employee’s injuries. To lower the cost of coverage, Florida business owners can file for a personal exemption and work with an experienced broker. Although finding affordable insurance can be difficult for plumbers in Florida, it is possible with the right help.
Our Florida brokers can help plumbers find comprehensive Workers’ Compensation insurance at the right price. To learn more about how the Florida Workers’ Compensation insurance brokers at NPN Brokers can help you, call today at (866) 340-9120.
Do FL Plumbers Need Workers’ Compensation Insurance?
Florida’s Workers’ Compensation laws are relatively strict. Instead of allowing all businesses to purchase Workers’ Compensation insurance as they see fit, Florida mandates coverage for companies that employ a certain number of workers or partake in a specific industry. Regarding plumbers, Florida is clear about their need for coverage.
In Florida, plumbers are considered part of the construction industry. That means that any Workers’ Compensation insurance requirements mandated for businesses and independent contractors in construction apply to plumbers. So, it doesn’t matter whether or not your plumbing company employs one or 100 workers. No matter what, you will need to purchase Workers’ Compensation insurance in Florida.
Florida categorizes certain professions and their corresponding insurance rates according to standards provided by the National Council on Compensation Insurance (NCCI). Currently, the NCCI categorizes plumbing work, and similar professions deemed not otherwise classified, as part of the construction industry. That means all Florida plumbers, from those that do general plumbing work in residential houses to those that work on pools, require coverage.
Can Plumbers File for a Workers’ Compensation Insurance Exemption in FL?
If you’re an independent plumber or own a plumbing business in Florida, you may wonder if there are ways to get around the mandated Workers’ Compensation insurance coverage requirements. Under certain conditions, business owners in the construction industry can choose to opt-out of coverage.
Workers’ Compensation insurance premiums can be expensive for plumbing businesses. Because of that, business owners may choose to opt-out of coverage to mitigate costs. In Florida, corporation owners or LLC members can file for a personal exemption from Workers’ Compensation. That means you can remove yourself from the payroll, lowering the number of employees covered by your Workers’ Compensation insurance.
While exemptions can appeal to small business owners, opting out of coverage comes with a risk. Remember, Workers’ Compensation insurance protects you and your business in the event of a work-related injury. If you’re injured at work and have opted out of coverage, your company may be responsible for paying for your medical bills and lost wages. Generally, this is too big of a risk, especially for those in a dangerous line of work like plumbing. Plumbers can talk to an experienced Florida Workers’ Compensation insurance broker to learn more about filing for an exemption and the possible implications. Instead of removing yourself from your plumbing business’ Workers’ Compensation insurance plan, you may be able to find other means of lowering the cost.
What Happens When FL Plumbers Don’t Get Workers’ Compensation Insurance?
Forgoing Workers’ Compensation insurance, especially if you’re required to have it, can have serious consequences. Not only can your plumbing business become responsible for an injured employee’s expenses, but you can face steep fines for failing to have coverage in Florida.
Florida takes Workers’ Compensation insurance seriously. If you’re part of a high-risk industry, like plumbing, and fail to purchase insurance, you may end up regretting that choice. In the event of a work-related injury, your plumbing business may become financially responsible for an employee’s injuries. That can become expensive quickly, especially when you factor in medical bills and lost wages.
In addition, Florida tends to penalize businesses and independent contractors who fail to purchase coverage when mandated. The minimum fine is $1,000, though total penalties can equate to double what your plumbing business would have paid in premiums for any time during the last two years it did not comply with coverage requirements. The risks of not purchasing insurance are severe, so it benefits plumbers to speak to a Florida Workers’ Compensation insurance broker. Instead of going without coverage, you can find comprehensive insurance that protects your plumbing business.
How Can Plumbers in FL Find Affordable Workers’ Compensation Insurance?
It can be difficult for Florida businesses to find affordable Workers’ Compensation insurance, especially if they are part of a high-risk industry. For Florida plumbers, the best way to find inexpensive coverage is to work with an experienced broker.
Because plumbers are considered part of the construction industry, their Workers’ Compensation insurance premiums can be costly. The price rises when plumbers have a history of work-related injuries or a plumbing business is relatively new. The more plumbers you employ, the greater the cost as well. Not to mention, if you’re required to purchase coverage, it can be difficult to find an insurance carrier that will give you an affordable rate.
That’s why it benefits plumbers to seek help from a reliable Florida Workers’ Compensation insurance broker. Our brokers have relationships with insurance companies that don’t require audits, contracts, or deposits. You can find affordable coverage for your plumbing business, even if you have a history of work-related injuries.
Instead of forgoing coverage and facing fines or financial liability in the event of an injury, get insurance you can depend on. When you work with an experienced broker, finding affordable Workers’ Compensation insurance becomes a much simpler task.
Our Brokers Can Help Plumbers Find Workers’ Compensation Insurance in FL
If you’re a Florida plumber, getting Workers’ Compensation insurance is crucial. To learn more about how the Florida Workers’ Compensation insurance brokers at NPN Brokers can help you, call today at (866) 340-9120.
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