How to Get Same-Day Workers’ Comp Coverage

Getting same-day Workers’ Compensation can be crucial for companies facing consequences for not having insurance. If you’re in need of a policy immediately, how can you get it?

If you need same-day Workers’ Compensation, begin by providing our brokers with all pertinent details about your company. This will include its size, age, industry, and history of workplace injuries and Workers’ Compensation claims. After receiving this information, our brokers can find you a policy within 24 hours. Carefully review quotes, even if you need coverage immediately, so that you do not accept premiums that are too expensive. Getting same-day Workers’ Compensation coverage can allow employers to avoid penalties associated with non-compliance, such as fines and stop-work orders, and potential work injury lawsuits filed by employees.

To speak with our Workers’ Compensation insurance brokers about finding same-day coverage, call NPN Brokers today at (866) 340-9120.

How Can You Get Same-Day Workers’ Comp Coverage?

Often, getting Workers’ Compensation can be a long process for employers, putting them at risk of penalization for non-compliance with state coverage mandates. If you need Workers’ Compensation coverage today, our brokers can help you get it. To do so, we will require certain information about your company.

Provide Company Information

Our Workers’ Compensation insurance brokers can get your company coverage quotes within 24 hours. If you need to get same-day Workers’ Compensation, start by compiling all necessary information about your business and its operations. What industry are you in? How many workers do you employ? How long has your business been in operations? Do you have a history of occupational illnesses or injuries? What about your company’s losses due to previous Workers’ Compensation claims? Answering these questions will be necessary so that our brokers can put together a clearer picture of your company and its Workers’ Compensation needs. Be honest when providing information about your company to a prospective carrier. If you misclassify employees or misrepresent other details about your business, that might be considered Workers’ Compensation fraud.

Review Quotes

Once we have the necessary information about your company and its practices, we will begin sourcing Workers’ Compensation quotes. Because of the established relationships our brokers have with carriers, we can find your company quotes in as little as a day. Once you have received quotes for Workers’ Compensation insurance, it is time to review the quoted prices and policies. Ensure all information about your company is correct, such as the classification of your employees. You can double-check if the quoted price is appropriate by referring to your company’s experience modification rate and other risk factors. If there are few risks associated with your company and quoted prices are still too high, our brokers can find you another carrier to provide you with a Workers’ Compensation policy as soon as possible.

What to Remember When Getting Same-Day Workers’ Comp Coverage

Even if you need Workers’ Compensation coverage fast, it is important to take your time and review all quotes and policies so that you do not end up paying too much for insurance.

When employers need Workers’ Compensation immediately, they might rush the process, resulting in policies that do not cover all employees and are ultimately too expensive. While our brokers will appreciate the fact that you require coverage as soon as possible, we will also ensure that the policy you agree to meets the needs of your company. If you approach a Workers’ Compensation carrier independently about finding coverage, the carrier might see your immediate need for insurance as an opportunity to offer an expensive policy.

So, take your time reviewing Workers’ Compensation quotes so that you only accept a policy you are comfortable with, even if you need insurance right away.

Reasons to Get Same-Day Workers’ Comp Coverage

When employers are without Workers’ Compensation, they risk being fined or severely penalized for non-compliance. If you are in jeopardy of such consequences, same-day Workers’ Compensation can provide relief in your situation.

Avoiding Fines

The first perk of getting same-day Workers’ Compensation is avoiding fines. States typically levy financial penalties against employers who do not adhere to insurance mandates. Fines generally add up to thousands of dollars. In addition to civil penalties, employers might even face jail time for not having Workers’ Compensation, depending on where they live. If you have been informed by your state Workers’ Compensation enforcement agency that you are not complying with coverage requirements and are at risk of being fined, getting same-day Workers’ Compensation can allow you to eliminate that problem.

Avoiding Stop-Work Orders

Stop-work orders are usually the first warning for employers without Workers’ Compensation. When a stop-work order is in place, a company cannot legally engage in operations of any kind. Stop-work orders are lifted when all associated fines are paid and employers get Workers’ Compensation. Because our brokers often find insurance for employers in as little as a day, you can turn to us if you need a stop-work order lifted immediately. This can allow you to mitigate the damage caused by a stop-work order.

Avoiding Litigation

In addition to facing fines and stop-work orders, employers are at risk of employee lawsuits any time they are without Workers’ Compensation. Generally speaking, employees can sue their employers for injury if their employers do not have the necessary Workers’ Compensation. This can occur, even if you are without Workers’ Compensation for as little as a day. Getting same-day Workers’ Compensation can allow you to eliminate the risk of workplace accidents occurring when you are without insurance so that you do not have to fear possible employee lawsuits. When employers are held liable for employee injuries, their companies might face bankruptcy or other financial issues.

Call Our Brokers to Get Same-Day Workers’ Comp Coverage

Call (866) 340-9120 to speak with the Florida Workers’ Compensation insurance brokers of NPN Brokers today.