Florida Workers’ Compensation Insurance Policy for Agriculture & Farming

Workers’ compensation insurance covers the cost of expenses incurred when an employee suffers bodily harm (or death) on the job. Florida, like most states, requires that employers have a workers’ compensation policy for their employees. This includes companies that work in the fields of farming and agriculture.

If you’re an employer with a farming or agriculture business, you may wonder how to find the right insurance policy at a good rate. NPN Brokers can help you by giving you a quote quickly so you can find affordable insurance. To find out more about how NPN Brokers can help your farming or agriculture business, call us at (866) 340-9120 or visit us online.

Understanding Workers’ Comp for Agriculture Companies in Florida

Workers’ compensation is important for both employers and employees. It ensures that employees will be paid in compensation for any harm they suffer on the job, while also ensuring that employers don’t have to pay for all of it out-pocket or risk litigation. Workers’ compensation insurance covers the cost of certain benefits in the case of an employee injury, which includes missed income and lost wages, prescription costs, and medical bills. Workers’ compensation also covers death-related costs to the families of people who are killed on the job.

In the state of Florida, employers in the farming and agriculture industry are required to have workers’ compensation insurance for their employees. Some of these farming and agriculture jobs are considered to be construction-related, which means that the company must provide workers’ compensation insurance if there is at least one employee. The farming jobs that are considered to be construction-related are, specifically, those that involve farm machinery operation (Code 0050 under the National Council on Compensation Insurance’s industry classification codes), usually by a contractor.

Other agriculture jobs are subject to slightly different rules regarding requirements for workers’ compensation. All agriculture companies in the state of Florida that employ at least six people are required to provide workers’ compensation insurance for their employees. All of these laws apply to regular employees, contractors, and sub-contractors, but not independent contractors.

How Much Does Workers’ Compensation Insurance Cost for Agriculture Companies?

The cost of a workers’ compensation insurance policy in Florida is based on a handful of factors. The first factor that is taken into account when calculating the price of a workers’ compensation policy is the type of work that your company does — industries that are likely to result in more injuries, such as the field of construction, are required to pay more for insurance. The second factor that determines the price of workers’ compensation policy coverage is the cost of the losses for that class of business over the preceding five years.

Florida’s initial insurance rates are mandated by the National Council on Compensation Insurance (NCCI), which recommends base rates for each class of business. These base rates are multiplied by the amount an employer pays for payroll, and then other modifiers and discounts are applied to find the final amount of the premium.

What Happens If You Don’t Have Workers’ Compensation Coverage for Your Business

Failing to get workers’ compensation coverage for your business, regardless of the type of work, can result in one of a number of consequences, all of which can be detrimental for the future of your company.

If you don’t get workers’ compensation policy coverage, you may face a fine of $1,000 or twice the amount of what you would have paid in premiums for the amount of time that you weren’t paying. Declaring that an employee is actually an independent contractor so that you don’t have to include them in your workers’ compensation policy can result in a $5,000 fine. More dire consequences include fraud charges or the risk of imprisonment.

A company that fails to maintain workers’ compensation coverage for its employees is able to be sued by its employees for workers’ compensation benefits (missed income, disability payments, physical therapy, prescriptions, and medical bills, or death-related expenses). Employees have a two-year statute of limitations to file a workers’ compensation claim, beginning at the date of their injury.

Investigators are employed by the state of Florida solely to keep track of the status of employers’ workers’ compensation policies. Investigators may request proof of insurance from employers at any time. Documents that employers can show to prove that they have workers’ compensation insurance for their employees include the information page found in the workers’ compensation insurance policy, a screenshot of the Proof of Coverage database found on the website of the Division of Workers’ Compensation, and a Certificate of Liability Insurance.

NPN Brokers Can Help You Get Workers’ Compensation Insurance for Your Farming Company

You don’t have to put your company at risk by not having workers’ compensation insurance. Allow NPN Brokers to help you find the best workers’ compensation policy coverage for your farming or agriculture business. If you provide us with information about your business and employees, we can get you a quote and an insurance policy with no contract, audit, or deposit. Contact NPN Brokers as soon as possible for more information about how you can find an affordable quote for your farming or agriculture business in Florida. Call us at (866) 340-9120 or visit our website today.