What Happens if an Employee Gets Hurt and You Don’t Have Workers’ Comp in Florida?
It’s never ideal for an employee to sustain a work-related injury. However, if that happens and your Florida business does not have adequate workers’ compensation insurance coverage, other problems can arise. Failure to carry workers’ comp insurance can leave your Florida business vulnerable.
The state of Florida has very strict laws regarding workers’ compensation insurance for businesses. If an employee is injured and your company does not have coverage, you can be financially responsible for compensating them for their injuries. In addition, your business can face fines and penalties from the state. Before it’s too late, it’s wise to purchase workers’ compensation insurance to protect your business in case of an employee injury. After all, it can be difficult for businesses with a history of work-related injuries to get affordable coverage.
The Florida workers’ compensation insurance brokers at NPN Brokers can help your business find coverage after a work-related injury. Our team can match your company with an inexpensive yet effective plan. To learn more about the Florida workers’ compensation insurance team at NPN Brokers, visit our website or call today at (866) 340-9120.
What Happens if an Employee Gets Hurt and I Don’t Have Workers’ Comp in Florida?
Most states have strict workers’ compensation coverage laws for businesses, and Florida is no exception. In fact, Florida’s laws are more comprehensive than most states regarding workers’ compensation insurance requirements for employers. Failing to carry workers’ compensation insurance can make your business vulnerable to fines. It can also make your company financially responsible for an injured employee’s expenses.
According to Florida Statute § 440.02, businesses with four or more employees must carry adequate workers’ compensation insurance. Because securing coverage can be difficult without the help of experienced professionals like the Florida workers’ compensation insurance brokers at NPN Brokers, a business can overlook the need for coverage. Companies in high-risk industries have difficulty finding affordable workers’ comp insurance and may forgo paying for it because the cost is too high. Unfortunately, accidents can happen, and employees can be severely injured at work, especially in high-risk fields. When this happens, an employee will most likely apply for workers’ compensation benefits. If your business doesn’t have coverage, you could face serious penalties and payments for their treatment and lost wages.
If you don’t have workers’ comp and an employee gets hurt, your company will be held financially responsible. The purpose of insurance is to cover the cost of injury in case of an accident. Without insurance, your company can be sued by an injured employee. Work-related injuries can be severe and warrant long-lasting medical attention. If an employee can no longer work, their lost wages must be compensated. With workers’ compensation insurance, your business will be safe from the financial damage of an employee injury.
Not only can your business become financially responsible for an employee’s recovery expenses, but it can be penalized by the State of Florida. Failing to abide by Florida’s workers’ compensation insurance laws can result in hefty fines that far outweigh the cost of insurance. Not having workers’ compensation benefits can make your Florida business vulnerable to penalties.
What Should I Do if an Employee Gets Hurt and I Don’t Have Workers’ Comp in Florida?
Unfortunately, there’s not much you can do to avoid the financial penalties of not having workers’ compensation insurance if an employee gets hurt in Florida. However, to prevent this from happening in the future, it’s best to purchase insurance coverage. From construction to office work, employee injuries can happen in any work environment. Carrying adequate insurance is the only way to protect your business in case of an employee injury.
It can be challenging for businesses in certain industries to find affordable coverage plans. Many insurance companies charge higher premiums for companies in high-risk industries, like construction. Contractors especially rely on workers’ compensation coverage to protect themselves and their employees. Unfortunately, purchasing a plan takes time and money that many people don’t have.
Say your business had an employee injury in the past before you had coverage. In that case, it could be doubly difficult to find a reasonably priced plan. Insurance companies might refuse to offer coverage out of fear that another employee will be injured while working for your business. If you can find coverage through your own research, it will likely be too expensive. Although you’re doing the right thing and trying to find workers’ compensation coverage for your Florida business, insurance companies can make it a painful process.
To find a plan that works for your Florida business, you need help. The Florida workers’ compensation insurance brokers at NPN Brokers can help match your company with the right insurance coverage. Provide our brokers with some background information about your business, and we can find an inexpensive and optimal insurance plan for you. Florida employers need workers’ comp insurance to comply with the labor laws of the state. That aside, having coverage can protect your business from financial responsibility in case of an employee injury.
Although finding insurance after an employee injury can be hard, it’s necessary to shield your business in the future. You can make the process easier by enlisting the help of experienced professionals, like the Florida workers’ compensation insurance brokers at NPN Brokers. Instead of working with a brokerage that requires audits, contracts, and deposits, choose a partner that values transparency and cares about protecting your Florida business. Whether your company is large, small, or mid-sized, purchasing workers’ compensation insurance coverage after an employee injury can save you from future financial difficulties.
Call Our Florida Workers’ Comp Insurance Brokers
To prevent future financial difficulties in case of another employee injury, purchase workers’ comp insurance as soon as possible. To find a plan that works for you, call the Florida workers’ compensation insurance brokers at NPN Brokers today at (866) 340-9120.
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