Fencing Contractor Workers’ Comp Policies in Florida
According to Rule 69L-6.021 in the Florida Administrative Code, all construction-related businesses in the State of Florida that employ at least one person are required to provide workers’ compensation insurance for their employees. This includes fencing contractors and companies that do fencing. Unfortunately, it is often difficult for fencing contractors and other construction-related businesses to find affordable workers’ compensation policies, but NPN Brokers is here to help.
If you are a contractor or business that does fencing and would like to get workers’ compensation insurance, reach out to NPN Brokers as soon as possible and learn how you can get a quote today. Call (866) 340-9120 right away.
The Benefits of Workers’ Compensation Insurance for Fencing Contractors
Workers’ compensation insurance is valuable to both employers and employees. Workers’ comp policies are intended to cover the expenses incurred from injuries suffered by employees while they are working. These expenses may include missed income and lost wages due to an inability to work or medical bills, such as the cost of physical therapy. This type of insurance also issues compensation to the families of employees that die while on the job.
Workers’ compensation insurance benefits both employers and employees: Employers can be certain that they will not have to pay expenses related to employees’ injuries while employees can be sure that they will receive compensation for any injuries they suffer on the job.
If an employee’s injuries happen under certain conditions, however, the employee may not be able to receive workers’ compensation benefits. If the employee did not observe the necessary safety rules or wear the proper safety equipment, if they were intoxicated or under the influence of drugs, or if their injury was self-inflicted, then they will not be eligible to receive workers’ compensation benefits, nor will they be able to sue their employer for their injuries on the basis of negligence.
Fencing Contractors in Florida Need Workers’ Compensation Insurance
Almost all companies in the State of Florida are required to have workers’ compensation insurance. Businesses that do construction-related work are required to have a workers’ comp policy if they employ at least one person; contractors themselves meet this one-employee requirement. “Construction-related work” is a broad field that includes many jobs that require manual labor, such as landscaping and tree removal, siding installation, roofing, fencing, and much more; as such, fencing is considered to be a construction-related industry.
Companies that do agricultural work are required to provide workers’ compensation to employees if they have at least six regular employees and 12 seasonal employees. Companies that do neither construction-related nor agricultural work are required to provide workers’ compensation insurance if they employ at least four people.
The Cost of Workers’ Compensation Insurance
The price that insurance companies charge for workers’ compensation insurance for companies that do construction-related work is high because the risk of injury in this industry is high. There are three factors that go into the formula that determines the price a company will pay for its workers’ comp policy: the degree of risk associated with that industry, the number of employees on the company’s payroll, and the company’s experience modification factor, which is based on the amount of workers’ compensation claims that have been filed in the past by that company.
What Happens When a Business Fails to Get Workers Comp Insurance
Florida businesses that fail to maintain workers’ compensation insurance for their employees make themselves vulnerable to major consequences. Firstly, if an employee is injured on the job and their employer does not have workers’ compensation insurance, that employee may be able to sue their employer over compensation for their injuries. Employees have two years following the date of their injury to file a workers’ compensation claim.
Also, a business that does not carry workers’ compensation insurance may have to pay fines to the State of Florida, which may be either $1,000 or twice the amount in premiums that the company would have paid over the time that they went without insurance.
It is possible for companies that do not have workers’ compensation insurance to lose their right to conduct business. They may be issued a stop-work order by the State of Florida, which will require them to cease all operations until they come into compliance with Florida’s insurance codes.
If a company attempts to fraudulently declare that an employee is an independent contractor so that they do not have to acquire workers’ compensation insurance for that employee, they may have to pay a $5,000 fine and could be at risk for fraud charges, which can result in imprisonment. It is also possible for businesses to face civil actions or criminal charges for other behaviors regarding their workers’ compensation insurance, such as failing to report employee injuries, taking steps to ensure that a workers’ claim for compensation is denied, or threatening to fire or otherwise retaliate against employees who file claims.
Employers should keep certain documents on hand to prove that they have coverage for their employees, just in case they are inspected by a state investigator. These documents can include a copy of the information page that can be found in the policy, a screenshot of the Proof of Coverage database with their information, or a Certificate of Liability Insurance.
Fencing Contractors Should Get in Touch with NPN Brokers Today
Don’t put your company at risk by failing to get workers’ compensation insurance. Allow NPN to help you find the best workers’ compensation policy for you and your fencing business in Florida. If you provide us with some basic information about your business and its workers’ compensation insurance needs, we can provide you with a quote right away. Contact NPN Brokers today by calling (866) 340-9120.