Does a Single Member LLC Need Workers Comp Insurance in Florida?

Florida has some of the most stringent worker’s compensation requirements in the United States. Whether or not a business is required to have worker’s compensation insurance depends on the industry that they do work in and the number of people that they employ. Single member LLCs that do work in Florida may wonder whether they are required to get worker’s compensation policies for themselves—the answer is that they have to get worker’s compensation policies if they work in the construction industry. Continue reading to learn more about the workers compensation policy requirements for single member LLCs in Florida and how Florida worker’s compensation insurance brokers NPN Brokers can assist businesses of all sizes find a worker’s compensation policy that is right for them.

Single Member LLCs in the Construction Industry Need Worker’s Compensation Insurance

According to Florida law, companies are required to have workers compensation insurance depending on the industry that they do work in and how many employees they have. Companies that do work in the agricultural industry must get worker’s compensation if they have at least six full-time employees or 12 seasonal employees. Companies that do work in either the agricultural industry or the construction industry must get worker’s compensation insurance if they employ at least four people.

Companies that do work in the construction industry must get worker’s compensation insurance if they employ even one person. This includes single member LLCs that do work in the construction industry, as well as contractors and sole proprietors. This requirement applies not only to companies that do work in the construction industry, but also those that are in a construction-related industry—construction-related industries include plumbing, electrical work, carpentry and cabinet installation, landscaping and tree removal, heating and ventilation, and much more.

What is Covered in a Worker’s Compensation Policy in Florida

Worker’s compensation policies cover the costs that are incurred following an injury that is suffered in the workplace. The injury-related costs that are covered under a worker’s compensation policy include medical costs, such as prescriptions, ambulance rides, stays in the hospital, visits with physicians and specialists, and physical therapy. Worker’s compensation policies also partially cover wages that are lost due to an employee’s inability to work while they are recovering. If an employee dies while they are working, their family will be able to receive death benefits through a worker’s compensation policy. These death benefits include funeral costs up to $7,500 and up to $150,000 for dependents.

Employees should note that injuries that happen under certain conditions may disqualify them from receiving benefits through their worker’s compensation policy. If the employee intentionally suffers an injury or inflicts an injury upon themselves, they will not be able to receive benefits. Furthermore, if the employee failed to observe basic safety requirements or wear necessary safety equipment when they suffered the injury, they will not be eligible to receive benefits. They will also be unable to receive benefits if, at the time of the injury, they were drunk or under the influence of a substance.

Employees that suffer from injuries in the workplace are subject to a statute of limitations of two years for filing their claim. If, however, the injury happened under special circumstances, the statute of limitations will be extended. Special circumstances include the employee being misled about their coverage or a mentally incompetent or underage employee.

Businesses That Fail to Get a Worker’s Compensation Policy Will Face Penalties

Single member LLCs that do work in the construction industry or a construction-related industry should be aware of the penalties for not having worker’s comp policies. It is possible for single member LLCs that don’t have worker’s compensation policies to be faced with fines—these fines may be up to $1,000 or twice the amount that they would have paid in premiums. One of the most severe penalties that single member LLCs may face for failing to have a worker’s compensation policy is the issuance of a stop-work order. After having been issued a stop-work order, it will be illegal for them to continue to work until they comply with Florida’s worker’s compensation statutes.

NPN Brokers Can Help Single Member LLCs Find Quotes for Worker’s Compensation Policies

It’s often difficult for companies and LLCs that do work in the construction industry (or a construction-related industry) to find worker’s compensation policies at an affordable rate. NPN Brokers is proud of our ability to help businesses of all sizes find policies that will protect them in the event of an injury that they suffer while working. You can get a workers’ compensation quote from NPN Brokers today. Visit NPN Brokers’ website and enter some information about your business and the type of work you do. You can expect to receive a quote from us within only a few minutes; you’ll be able to bind the quote in less than 48 hours if it appeals to you. Single member LLCs that buy policies through NPN Brokers are not required to sign contracts, undergo audits, or make deposits prior to securing their policies. Buyers of policies through NPN Brokers have the flexibility to pay as they go.

Get in Touch with NPN Brokers for a Policy on a Worker’s Compensation Quote Today

Single member LLCs that work in the construction industry should get in touch with NPN Brokers today to learn more about how they can get a free quote on a comprehensive policy. Getting a quote on a policy that is right for your single member LLC is simple and can be done on NPN Brokers’ website. Call NPN Brokers at (561) 990-3022 today to learn more about how you can get an affordable policy.