Why Do I Need Workers’ Comp for My Employees in Florida?

In Florida, some employers are required to get Workers’ Compensation insurance. Compliance is crucial to protect employers from financial liability after a workplace injury in Florida.

Although only certain businesses are required to purchase Workers’ Compensation insurance in Florida, all employers should get it. While mandated coverage is based largely on payroll and industry, that doesn’t mean that some businesses are immune to workplace accidents. Serious workplace injuries might happen anywhere, at any time. Comprehensive Workers’ Compensation insurance protects employers from financial liability in the event of a workplace accident and from unnecessary financial penalties and stop-work orders imposed by the Florida Division of Workers’ Compensation. To get the coverage you need to protect yourself and your employees in Florida, reach out to our experienced brokers.

At NPN Brokers, we care about helping employers throughout Florida meet their Workers’ Compensation insurance requirements. To learn more about the Florida Workers’ Compensation insurance brokers at NPN Brokers, call us today at (561) 990-3022.

Why Might I Need Workers’ Compensation Insurance for My Employees in Florida?

In many cases, employers in Florida must purchase Workers’ Compensation insurance for their employees. While it’s always wise to have insurance, you might need it under Florida law, depending on certain factors. For example, payroll and industry are often the factors determining whether or not an employer needs to purchase Workers’ Compensation insurance for their employees. To better understand if they need coverage, employers can contact our Florida Workers’ Compensation insurance brokers for clarification.

Industry

In Florida, companies in certain high-risk industries should purchase Workers’ Compensation insurance as they are more prone to workplace injuries. While many should purchase insurance, companies in the construction industry are required to get Workers’ Compensation coverage for their employees, no matter what.

Any other factors that might otherwise dictate coverage requirements, like the number of workers you employ, don’t matter if you are an employer in the construction industry. While you might not classify your company as part of the construction industry, the Florida Division of Workers’ Compensation might. To learn whether or not you need coverage for your employees based on your industry, ask our Florida Workers’ Compensation insurance brokers.

Payroll

For all non-construction companies, the deciding factor for whether or not employers must purchase Workers’ Compensation insurance for their employees is payroll. Most non-construction companies, apart from those in the agricultural industry, must purchase Workers’ Compensation insurance if they employ four or more workers. Employers in the agricultural industry must purchase Workers’ Compensation insurance if they employ six or more regular workers or 12 or more seasonal workers in Florida.

As payroll fluctuates, employers might be unsure if they need coverage or how additional workers might impact their insurance premiums. Our Florida Workers’ Compensation insurance brokers can help you find a flexible pay-as-you-go policy that accounts for payroll changes so that you don’t pay for employees you don’t have.

Why Should I Get Workers’ Compensation Insurance for My Employees in Florida?

Although only certain employers are required to purchase Workers’ Compensation insurance for their employees in Florida, that doesn’t mean others shouldn’t. In fact, having Workers’ Compensation insurance can protect employees and employers in the event of a workplace injury. Not to mention, if you are an employer that’s required to purchase Workers’ Compensation insurance but you don’t, you might face serious penalties for non-compliance in Florida.

Avoid Financial Penalties

Getting Workers’ Compensation insurance for your employees is often necessary to create a safety net in case of a workplace injury. In addition, having the necessary coverage, if required, can protect employers from severe penalties. Compliance with Workers’ Compensation insurance requirements is taken very seriously in Florida. Employers that lack proper coverage when required might face steep financial penalties.

For non-compliance, Florida might impose a penalty equal to twice the amount in insurance premiums an employer would have paid for the time they were uncovered, up to two years. Non-compliance might result in additional financial penalties and possible jail time for employers that fail to get the necessary Workers’ Compensation insurance in Florida. By partnering with our Florida small business Workers’ Compensation insurance brokers, employers can avoid harmful consequences for non-compliance.

Avoid Stop-Work Orders

If you’re required to purchase Workers’ Compensation insurance in Florida, and you don’t, you might face a stop-work order. These orders prevent businesses from engaging in work until they get the necessary coverage. A stop-work order also alerts customers and employees that you do not have the proper Workers’ Compensation insurance, possibly harming your business’s reputation. While stop-work orders can be harmful, they’re completely avoidable when employers get the necessary Workers’ Compensation insurance for their employees in Florida.

Avoid Financial Liability

When employers purchase Workers’ Compensation insurance in Florida, whether they are required to or not, they get protection for themselves and their employees. Workplace injuries might be severe, regardless of industry. Accidents might happen for various reasons, leaving your business at risk of financial liability for an injured worker’s medical bills and lost wages. Suppose you have a comprehensive Workers’ Compensation insurance plan. In that case, an injured worker can file a claim with your insurance carrier instead of filing a lawsuit against your company. This protection is essential for many employers in Florida and their employees.

Avoiding financial liability for a workplace injury is crucial and possible with the right Workers’ Compensation insurance plan. Our brokers can help you find an affordable, flexible policy that meets your business’s needs at a comfortable rate.

Ask Our Florida Brokers About Workers’ Compensation Insurance Today

If you need Workers’ Compensation insurance for your employees in Florida, our brokers can help. To learn more about the Florida Workers’ Compensation insurance brokers at NPN Brokers, call us today at (561) 990-3022.