Does Every Business in Florida Need Workers’ Compensation Insurance?

Florida’s laws regarding workers’ compensation policies are relatively strict. Businesses must get workers’ compensation policies if they employ a certain amount of people and work in certain industries, which means that most, though not all, businesses will need to get a policy. Keep reading to learn more about the criteria that require businesses to get workers’ compensation policies and how your business can use the Florida workers’ compensation insurance brokers at NPN Brokers to get a workers’ compensation policy for your employees.

Which Businesses Need Workers’ Compensation in Florida?

Businesses that are not in the agricultural industry, the construction industry, or a construction-related industry in Florida must have workers’ compensation policies for employees if they have four or more employees on the payroll. Employees are considered to be people who work part-time or full-time, business owners, corporate officers, members of LLCs, general contractors, and subcontractors. (Sole proprietors are not considered employees but can get a workers’ compensation policy if they want.)

The agricultural industry carries different requirements regarding workers’ compensation policies. These businesses must get workers’ compensation policies if they employ at least six people year-round or twelve people seasonally; a worker is considered to be seasonal if they work for more than 30 days in one season but less than 35 days in a calendar year.

Requirements for having workers’ compensation policies are also different in the construction industry, as well as for businesses that do construction-related work. Construction-related work is work that is similar to construction; there are 83 different types, which include electrical work, plumbing, carpentry, landscaping, and many more. Construction companies and companies that do construction-related work must get workers’ compensation policies if they employ at least one person; businesses can consult the Florida Administrative Code if they would like to learn whether their type of business is considered construction-related.

Workers’ compensation policy prices depend on the riskiness of each job. Companies that do work that has a high risk of injury will be charged more for their workers’ compensation policies. Businesses can easily get a workers’ compensation quote on the price of a policy if they visit the NPN Brokers website and enter some basic information about the work they do and the number of employees they have. They can expect a quote within only a few minutes.

What’s in a Typical Workers’ Compensation Policy?

Employees that are injured while working can receive compensation for their injuries through their employer’s workers’ compensation policy. These policies are intended to cover two major costs associated with injuries: medical costs and lost wages.

The medical expenses that injured employees can receive compensation for include the cost of stays in the hospital, visits with physicians and specialists, prescription medication, medical equipment, and ambulance rides. Employees that are unable to work can also partially recover the wages they’ve lost through a workers’ compensation policy.

The families of employees who die while on the job can receive death benefits, which provide up to $7,500 for funeral costs and payments to any surviving dependents. Note that workers’ compensation policies do not provide compensation for pain and suffering.

Limitations on Compensation for Injured Workers

Generally, whether or not the employee was at fault for the injury is not taken into consideration. However, employees that suffer injuries under certain circumstances will not be eligible for workers’ compensation benefits. Employees that inflict injuries on themselves are not eligible, and employees that fail to wear the proper safety equipment or were under the influence of alcohol or another substance at the time of their injury will be ineligible for workers’ comp benefits as well.

Employees that suffer injuries while working must file for benefits within two years following their injuries. Employees that were minors or mentally impaired at the time of their injury or misled by their employers about the details of their policy may be entitled to additional time to file for benefits.

Penalties for Failing to Get a Workers’ Comp Policy for Your Business

Investigators employed by the state may look into whether your business has a workers’ compensation policy at any time. If they discover that your business doesn’t have an appropriate policy in place, they can issue penalties that have the potential to impact the company’s success. The penalties for not having workers’ compensation include:

  • Civil lawsuits – If a company does not have a workers’ compensation policy when an employee is injured on the job, that employee can file a lawsuit against the company. The lawsuit will cover the costs associated with the injury, such as medical costs, lost wages, and pain and suffering. The amount that an employee is able to recover in a lawsuit is much greater than what they would normally be able to recover through a workers’ compensation policy.
  • Fines – The State of Florida is able to fine companies that don’t have workers’ compensation policies for their employees. The fine is either double what they would have paid in premiums or $1,000.
  • Stop-work orders – Investigators in Florida can issue stop-work orders to companies, which will force them to stop all business operations until they comply with Florida’s workers’ comp laws.

Get a Florida Workers’ Compensation Policy Fast with NPN Brokers

If you own a business in Florida, it is likely that you will need to get a workers’ compensation policy for your employees. Getting a quote on policies is easy if you go to the NPN Brokers website and enter some information about you and your business. Contact a Florida workers’ compensation broker today by calling NPN Brokers at (866) 340-9120.