Pembroke Pines Workers’ Compensation Insurance Policy Providers
For the most part, employers in Pembroke Pines have a responsibility to provide Workers’ Compensation to their employees. You can get such coverage by sourcing a policy from a Workers’ Compensation provider.
In order to get a Workers’ Compensation plan from an insurance provider in Pembroke Pines, employers must reach out to carriers. You can do this through our brokers to make the process easier. Depending on the size of your company and the industry it operates in, you will likely need a Workers’ Compensation policy for your employees. If your current carrier has recently increased your premiums without reason or has proved difficult to work with, our brokers can find you a new policy from a reliable carrier in Pembroke Pines.
You can call our Pembroke Pines Workers’ Compensation insurance brokers at (866) 340-9120 to start sourcing quotes with help from NPN Brokers today.
How to Get Workers’ Compensation from an Insurance Policy Provider in Pembroke Pines
Obtaining a Workers’ Compensation policy from an insurance provider in Pembroke Pines can be complicated when employers do not have the necessary help. With assistance from our Workers’ Compensation insurance brokers, employers can more easily secure a policy that covers their employees and meets their needs.
Start by gathering information about your company and its employees. This will include details about your business’s operations and employees’ responsibilities. Compile records confirming your company’s payroll, name, location, and age. From there, our brokers can contact insurance carriers in your area and get coverage quotes for your business.
You can then review policies and quotes to find a plan that best suits your company’s needs. While self-insuring or getting overage through the Florida Workers’ Compensation Joint Underwriting Association are options for some companies and can allow them to remain compliant with insurance requirements, it might not provide the same security as getting insurance through a private carrier in Pembroke Pines.
If you have remote employees that live in Pembroke Pines or Florida, they must be covered by your policy. Remote workers living in other states might have to be covered by a separate policy.
Do You Need to Get Workers’ Compensation from an Insurance Policy Provider in Pembroke Pines?
Whether or not your company needs to get insurance from a policy provider for Workers’ Compensation in Pembroke Pines will largely depend on its size and industry.
Florida separates companies into industries when determining Workers’ Compensation insurance requirements. Start by identifying whether your company more closely aligns with the definition of a construction company, non-construction company, or agricultural company.
If you are in the construction industry, you will need Workers’ Compensation, regardless of the size of your company. Non-construction and non-agricultural companies with more than three employees must get Workers’ Compensation in Pembroke Pines. Agricultural companies that have six or more full-time workers or 12 or more seasonal workers also need Workers’ Compensation. Other companies are exempt.
Companies not legally required to obtain Workers’ Compensation insurance can opt into the system and get coverage. This is generally a wise decision, as being protected by Workers’ Compensation can allow your company to avoid legal action or other complications following a workplace accident, injury, or illness in Pembroke Pines.
Estimating the Cost of Workers’ Compensation from an Insurance Policy Provider in Pembroke Pines
When getting Workers’ Compensation in Pembroke Pines, it is important for employers to estimate the cost so that they do not wind up paying too much for workplace liability insurance.
Begin by learning your company’s National Council on Compensation Insurance (NCCI) rate. This rate will be assigned to your company based on its NCCI code. Our brokers can help you determine your company’s NCCI code and rate by learning more about its operations and the responsibilities of its employees.
Upon learning your company’s NCCI rate, you will understand the baseline rate for its Workers’ Compensation premiums. Generally, policy providers add other risk factors to the baseline rate for Workers’ Compensation. Risk factors include a company’s age, payroll, and history of workplace accidents. Larger companies might initially be given higher Workers’ Compensation premiums. The same can be said for companies with an extensive history of workplace accidents and injury claims. You can lower your company’s insurance premiums over time by implementing new safety procedures and reducing the number of Workers’ Compensation claims filed by employees.
Knowing When to Get Workers’ Compensation from a New Insurance Policy Provider in Pembroke Pines
Some Workers’ Compensation carriers are less reliable than others, increasing premiums unnecessarily or refusing to pay out claims to injured workers for seemingly no reason. If you are tired of being treated poorly by your current Workers’ Compensation insurance carrier, our brokers can help you find a new provider.
Lengthy and unnecessary audits, baseless hikes in premiums, and other annoyances might cause you to reconsider your current Workers’ Compensation policy carrier. When this happens, employers can turn to our brokers. We have long-term relationships with carriers in Pembroke Pines who are open to working with companies of all industries and sizes, including high-risk and small businesses.
Sometimes, carriers drop a company’s policy seemingly out of the blue. While there might be somewhat valid reasons for this, such as a recent increase in claims, canceling a policy can seem unfair and leave companies in a vulnerable position. If your company’s policy is canceled, our brokers can help you get quotes within a day, enabling you to find new Workers’ Compensation coverage almost immediately. This can allow your company to continue its operations with little to no delay and eliminate the risk of being financially penalized by the Division of Workers’ Compensation in Florida. Do not operate without Workers’ Compensation, as doing so can result in criminal and civil penalties for employers in Pembroke Pines.
Contact Our Pembroke Pines Brokers for Workers’ Comp Insurance Today
Call (866) 340-9120 to speak with the Workers’ Compensation insurance brokers at NPN Brokers today.
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