Lee County, FL Workers’ Compensation Insurance Policy Providers

Insurance providers give coverage to companies in exchange for premiums. To find a policy that is within your budget and covers all of your employees, turn to our brokers in Lee County.

Various companies, from small businesses to those in high-risk industries, might find it challenging to get Workers’ Compensation in Lee County. Working with our brokers may make this process much easier and result in employers getting workplace liability insurance policies that meet their needs and fit their budgets. You can confirm that your quoted premiums are appropriate by reviewing your company’s risk factors, such as its payroll and history of claims. If you do not get a policy from a workplace liability insurance provider in Lee County, you might be faced with consequences in the form of criminal and civil penalties.

You can call our Lee County, FL Workers’ Compensation insurance brokers at (561) 990-3022 to learn how NPN Brokers can help your company secure a policy today.

Workers’ Compensation Insurance Policy Providers for Businesses in Lee County, FL

The carriers that our Workers’ Compensation insurance brokers work with offer policies to all types of businesses in Lee County, including small and high-risk companies. This can make finding coverage a much simpler process for certain employers.

Small Businesses

Most small businesses will need Workers’ Compensation in Lee County, per Florida’s payroll threshold for workplace liability insurance compliance. While very small companies with less than four workers will not be required to have Workers’ Compensation, they should still get it. The implications of not having Workers’ Compensation can be costly, leaving small businesses at risk of financial distress. Additionally, injured workers can sue their employers if they are not covered by Workers’ Compensation. Furthermore, the Division of Workers’ Compensation might heavily penalize illegally uninsured employers operating in Lee County.

High-Risk Businesses

High-risk businesses often have a hard time finding insurance. That said, coverage is crucial for these companies as the risk of workplace injuries is high. Without Workers’ Compensation, high-risk companies are in jeopardy of being held liable for all employee injuries. Not only can this be costly, but it can be time-consuming and quickly become an administrative nightmare. Having a policy with a dependable Workers’ Compensation coverage provider can make all the difference for high-risk companies in Lee County.

Confirming Premium Quotes from Workers’ Compensation Policy Providers in Lee County, FL

When sourcing Workers’ Compensation policies, employers should be wary of excessive premiums. Fortunately, there are ways for employers to confirm that the quotes presented to them are appropriate.

Our brokers will begin by requesting information about your company, such as its operations and employee responsibilities. From there, we will confirm its classification code ascribed by the National Council on Compensation Insurance (NCCI). All carriers in Lee County must use rates from the NCCI. Your NCCI rate will determine the lowest possible cost of Workers’ Compensation when applied to your company’s payroll.

From that point, subjective factors may come into play. A carrier will assess additional risk factors, such as your company’s age and its Workers’ Compensation claims history. Such risk factors can cause Workers’ Compensation premiums to rise. If your company does not have considerable risk factors associated with it, a carrier should not present you with an expensive Workers’ Compensation quote. If you are unsatisfied with the premiums you are seeing during your search for Workers’ Compensation, contact our brokers for assistance.

How Long Does it Take to Get Workers’ Compensation Coverage from Policy Providers in Lee County, FL?

Attempting to get Workers’ Compensation without help from our brokers might result in considerable frustrations for employers in Lee County. Our brokers work efficiently so that you can get coverage seemingly overnight.

Upon receiving the necessary information about your company, our brokers will present you with quotes from carriers within 24 hours. This is particularly advantageous for companies that urgently need Workers’ Compensation, whether because their previous policies were canceled or because they never had insurance to begin with.

Getting a comprehensive and fairly priced Workers’ Compensation plan quickly can allow your company to avoid the penalties that come along with non-compliance in Lee County, such as stop-work orders and fines. Do not delay getting Workers’ Compensation, as doing so might complicate matters for your company.

Penalties for Not Getting Workers’ Compensation Coverage in Lee County, FL

Because having Workers’ Compensation policies is required by law for many businesses in Lee County, those that fail to secure a policy will likely face various consequences from the Division of Workers’ Compensation.

Financial consequences for non-compliance equate to double what a company would have had to pay in insurance premiums for any period of non-compliance within the previous two years. Additionally, employers might face time in jail for operating an illegally uninsured company in Lee County.

Consequences can continue if a worker is hurt on the job. When employers do not get Workers’ Compensation from policy providers, they risk being involved in lawsuits with injured workers. Compensation in work injury lawsuits is not limited in the same way as it is in workplace liability insurance claims. This means that an employer might be held financially responsible for compensating a worker for all of their lost wages on top of their medical bills and emotional damages.

Companies might be penalized for non-compliance at any time if they are reported to the Division of Workers’ Compensation. A workplace accident does not have to occur in order for the Division of Workers’ Compensation to place stop-work orders on a company or financially penalize it. Operating without Workers’ Compensation means you are taking on a huge risk and placing your company in jeopardy of serious penalization in Lee County.

Contact Our Lee County, FL Brokers Today

Employers can call (561) 990-3022 to get help from the Workers’ Compensation insurance brokers at NPN Brokers.