Florida Workers Compensation Policy Coverage for Carpentry and Floor Work Contractors and Companies
Construction-related companies that are based in Florida and employ at least one person are required to provide worker’s compensation policy coverage for their employees. Since carpentry companies and floor work contractors in Florida are considered to be construction-related, they are also subject to these worker’s compensation requirements. Finding a good policy can be difficult for employers, though, since many insurance providers are reluctant to sell insurance to construction-related companies because there is a high risk of injury associated with this industry.
NPN Brokers is proud of its ability to provide a worker’s compensation policy to all companies, regardless of the level of associated risk, size, or age. To get a free insurance quote or just more information about how to get coverage for your carpentry or floor company, call us at (866) 340-9120 or visit us online.
Why Florida Carpentry and Floor Work Companies Need Worker’s Comp Insurance
Worker’s compensation coverage is intended to cover the expenses associated with injuries suffered by employees while they are working. Expenses incurred from injuries can include missed income and lost wages, prescription costs, and the cost of medical procedures and physical therapy. Worker’s compensation also covers costs incurred from deaths that happen while employees are on the job, paid to the families of workers that have died.
Companies based in Florida that work in a construction-related field and employ at least one person are required to have worker’s compensation insurance, according to Rule 69L-6.021 of the Florida Administrative Code. This applies to companies as well as contractors and subcontractors. “Construction-related” is broadly defined to include landscaping and tree removal, HVAC, farming and agriculture companies, and much more; it also applies to companies that do carpentry and floor work, which can include various types of work such as framing, lathing, windows, stairs, roofing, fencing, decking, wood trim, cabinet installation, and siding installation.
This rule applies only to companies that do construction-related work — agricultural companies are required to provide worker’s compensation insurance if they have at least six employees, while regular companies are required to provide worker’s compensation insurance if they have at least four employees.
A few factors determine the price of worker’s compensation policies in Florida. The first factor that goes into pricing is the nature of the work that the company does; they are grouped into certain classes. The second factor that goes into the pricing of a worker’s compensation policy in Florida is the cost of the losses for the businesses in that class during the five years that precede it at the time of pricing.
Penalties for Failing to Get Worker’s Comp Coverage in Florida
There are investigators hired by the state of Florida whose job it is to investigate the status of worker’s compensation policies held by employers in construction-related fields. If they find that an employer does not have a worker’s compensation policy for their employees, they are able to issue a stop-work order that will bar the company from operating and will only be lifted when the company complies with the worker’s compensation insurance policy requirement.
There are many other consequences that can be imposed on companies that fail to maintain worker’s compensation policies for their employees. The main penalty that companies may face for failing to have a worker’s compensation policy is a fine, which can be either $1,000 or twice the amount of money that the employer would have paid in worker’s compensation during the time that they failed to do so. A $5,000 fine will be imposed on employers that declare employees to be independent contractors in an attempt to avoid paying for worker’s compensation insurance.
Employees are able to sue their employers for failure to provide a worker’s compensation policy, which will require the employer to pay for the costs that would normally be covered by a worker’s compensation policy.
How NPN Can Help You Get Worker’s Compensation Insurance
Florida requires that employers provide worker’s compensation coverage for their employees, but it doesn’t require insurance carriers to provide worker’s compensation coverage for companies that seem to have a high level of liability, or they may deny coverage to companies if they are too small or have too few employees.
Construction-related companies in Florida are often denied worker’s compensation coverage from insurance carriers, which can make it difficult for companies to find good policies for their employees. NPN Brokers is able to provide good worker’s compensation coverage for companies of all sizes and industries without any deposit or audit.
Contact NPN Brokers to Get a Worker’s Comp Insurance Quote
Allow NPN Brokers to help you get a worker’s compensation policy that protects you from penalties and your employees from harm. We can give your Florida carpentry or floor work business a customized rate that is tailored to meet your business’s specific needs. Call for a free quote today. To get in touch, either call us at (866) 340-9120 or visit our website.