Florida Broker for Construction Injury Claim Insurance Coverage
Florida companies that are in the construction industry or a related field can find construction injury claim insurance with the help of a broker from NPN Brokers. Companies often face difficulty while searching for a construction injury claim insurance policy since Florida has strict requirements surrounding worker’s compensation policies. But with the help of a broker from NPN Brokers, construction companies and construction-related companies that work in Florida can find quotes that are within their budgets within a few minutes.
Florida-based companies that are seeking construction injury claim insurance policies are encouraged to get in touch with NPN Brokers to learn more about how they can get comprehensive injury claim insurance for their employees. Contact NPN Brokers by calling (866) 340-9120 to learn more about getting a policy for your employees.
Understanding Construction Injury Claim Insurance for Companies in Florida
The industry that a company operates in and the number of people that they employ determines whether or not they are required to get worker’s compensation policies for their employees. According to Florida’s Administrative Code, companies that do work in the construction industry or a construction-related field must have worker’s compensation policies for all employees if they employ at least one person. Employees are considered to be anyone that works for the company either part-time or full-time, as well as anyone that does work as a general contractor or subcontractor. A company may exempt up to three corporate officers if they can prove that each has at least a 10% ownership stake in the company.
This part of Florida’s Administrative Code covers both companies that do construction and companies that do construction-related work. Companies that do work in the construction-related field include those that do landscaping and tree removal, carpentry, roofing, farm machinery operation, and much more.
While all companies that do construction or construction-related work must get worker’s compensation policies if they employ at least one person, companies in other industries are also required to get worker’s compensation policies if they have a certain number of employees. Companies that do work in the agricultural industry must get worker’s compensation policies if they have at least six full-time employees or twelve seasonal employees. Companies that do neither agricultural nor construction or construction-related work are required to obtain worker’s compensation policies if they employ at least four people.
How Construction Injury Claim Insurance Policies are Priced
There are a few factors that determine the price of construction injury claim insurance policies. The first factor that determines the price of construction injury claim insurance policies is the level of risk associated with the job that each employee does. The level of risk of each job is determined by the National Council on Compensation Insurance, which is also known as NCCI. NCCI assesses the level of risk associated with every industry and then classifies each job based on the likelihood of injury. Jobs that carry more risk will carry higher prices for construction injury claim insurance policies.
A company’s history with claims (their “experience modification factor”) is another factor that will determine the amount that they will pay for worker’s compensation insurance policies. If a company has filed a worker’s compensation policy in the past five years, they can expect to pay more for their worker’s compensation policy. The severity of each past claim also plays a role in the price that they will pay for their policy. The length of time that a company has been in business is another factor that determines the amount that it will pay for its worker’s compensation policy.
To get an instant quote on the price that they can expect to pay for a worker’s compensation policy, employers can visit NPN Broker’s website and enter some basic details about the industry they work in, the history of their company, and the number of people that they employ.
What is Covered by Construction Injury Claim Insurance?
Worker’s compensation policies compensate injured workers for the costs incurred as a result of the injuries they suffer while they are working. Medical costs such as ambulance rides, hospital stays, and visits with doctors are covered in worker’s compensation claims. The wages that employees lose as a result of their inability to work can also be recovered in a worker’s compensation claim. If an employee dies while they are working, a worker’s compensation policy may also allow their family to receive death benefits (the cost of the funeral and payments to dependents). Worker’s compensation policies do not include compensation for pain and suffering suffered as a result of an injury that is suffered in the workplace.
There is a statute of limitations that limits the amount of time that employees have to file worker’s compensation claims—employees have two years to file worker’s compensation claims but it will be extended if there are special circumstances, e.g. the employee was a minor at the time of the injury, the employee was mentally incompetent at the time of the injury, or if an employee misled an employee about their coverage.
Employees that were injured while they failed to observe safety rules or were not wearing necessary safety gear, while they were drunk at the time of the injury, or if they inflicted the injury upon themselves, they will not be eligible to receive a worker’s compensation policy.
Get a Quote from Our Construction Injury Claim Insurance Brokers Today
Employees that work in the construction industry and its related fields face the risk of injury every day. Make sure that you have worker’s compensation insurance for your employees so that you can avoid lawsuits and major penalties for failing to have insurance. Call NPN Brokers today at (866) 340-9120 or visit them online for a fast and free quote on a construction injury claim insurance policy.
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