Workers’ compensation insurance in Florida covers employees in the event of an accident or injury while on the job.
In Florida, the law makes it mandatory for employers to maintain workers’ compensation coverage for its employees, even if the employees are family members like a spouse or child. To operate your business without this insurance could mean a financial penalty.
Besides being the law, it makes good business sense to have workers’ comp insurance in Florida. Just one really bad injury on the job can cost an unbelievable amount of money. For some employers, that could mean the difference between succeeding and having to file bankruptcy. The workers’ compensation insurance covers the employee’s medical expenses and wages.
Working with a good insurer can also mean some ancillary services like ways to reduce claims, which in turn will reduce premiums. They also have suggestions about how employees can return to work sooner, which will help the employee regain a sense of worth and help the company. This action means the employer will not need to hire a temporary employee for as long.
By being proactive and covering the injured employee’s medical expenses from the start, the employee is less likely to sue the employer. Lawsuits mean lots of expenses, even if you win. It also means a long, drawn-out affair that can impact the morale of the company.
So, if you are a Florida employer and have at least four employees on the payroll, even if they are only part time, you need to secure workers’ compensation coverage from your insurance agent. If you are in the construction industry, the minimum number of employees is one. Farmers who employ at least five persons and an additional 12 or more for seasonal work also must have this insurance. Plus, employees of a subcontractor are considered employees of the general contractor, even if they are independent contractors.
In addition, a construction industry employer from a state other than Florida that employs at least one employee (full or part time) must secure Florida workers’ compensation coverage, and that insurer must be licensed in Florida.
If you need Florida workers’ compensation coverage, contact us at (407) 272-1976 or through the website. One of our workers comp representatives will be happy to go over your needs and possible insurers to fit your situation. We can arrange a convenient appointment time to discuss your options.