In Florida, if you have four or more employees, you must have workers’ compensation insurance. Every worker at a construction company must be insured. Furthermore, this article will explain workers’ compensation insurance in Florida, their companies, requirements, and law
Workers Compensation Insurance Florida
Workers’ compensation, often known as workman’s comp or workers’ comp, is an insurance policy that covers workers in the event that they become ill or injured on the job. When an employee has an injury or illness on the job, they can file a claim for compensation through workers’ compensation insurance.
In Florida, if you have four or more employees, your company must carry workers’ compensation insurance. Workers’ compensation insurance is a legal requirement for any company performing construction work, regardless of whether the employees are full-time employees or independent contractors.
There are also statewide agricultural employment standards in Florida. Provide workers’ compensation insurance. If your company employs six or more full-time workers or twelve or more seasonal workers for more than thirty days annually,
Worker’s compensation requirements in Florida vary by city and by type of license or certification sought. In order to obtain a general contractor’s license in the state of Florida, for instance, applicants must provide proof of workers’ compensation insurance.
Workers Compensation Insurance Florida Companies
Safeguard the company and its employees. One method of doing so is to invest in workers’ compensation insurance. Having workers’ compensation protects your company from any legal action. It’s also useful if one of your workers gets hurt or sick on the job. The following are the worker’s compensation insurance companies in Florida:
#1. The Hartford
The Hartford is one of the nation’s best Florida workers’ compensation insurance companies, with over 200 years of experience. Because of its preferred medical provider network of over 1 million providers that treat occupational injuries, the insurer is regarded as the finest choice for worker’s compensation plans.
It also provides over 65,000 pharmacies in the United States to supply medications for injured workers, usually with no out-of-pocket price, as well as a network of nurse care managers to help coordinate the injured workers’ care with doctors and therapists.
Hartford provides companies with pay-as-you-go billing options based on actual wages, which can aid in cash flow management and avoid audit surprises.
#2. Simply Business
They provides a full suite of business insurance with the goal of making it simple to cover your company.
Simply Business can help you get the right coverage at the right price, whether you’re looking for construction workers’ insurance or insurance for your startup.
Simply Business will ask you a few questions about your company and offer you practically quick reasonable quotations from leading insurance providers. You can check into workers’ compensation insurance to protect everyone on your staff, and you can get insured in compliance with Florida law without breaking the bank.
#3. AIG
AIG’s workman’s comp insurance is designed to reduce risk. As stated on their website, they “combine data-driven insights and the latest safety technology to help your company reduce risks, prevent accidents, and keep workers safe.”
Still, if an accident occurs, they are prepared to handle claims and deliver employees the proper care as soon as possible. They also provide various program designs and financing alternatives, allowing you to acquire the insurance you need while paying in a way that works for your business.
#4. Progressive
The Progressive Advantage Business Program provides one-stop purchasing for workers’ compensation insurance. This program provides a variety of insurance products for small businesses that are underwritten by carefully selected carriers.
Obtaining a quote is simple, either online through our partner or over the phone with a skilled specialist. The specially qualified specialists assist in ensuring that your insurance coverage is suited to your specific needs.
#5. Liberty Mutual
Liberty Mutual brings knowledge and resources to the table in order to protect your company and support your employees. It provides risk management services to help prevent accidents, including access to customizable movies that may be used as accident prevention aids.
In the case of an accident, Liberty Mutual is ready to assist workers by providing prompt claim processing and access to high-quality, low-cost care. It also provides you and your employees with toolkits with useful advice on what to do following an accident. According to the insurer, it closes claims faster and at a lower cost than the industry average.
#6. biBERK
Berkshire Hathaway’s biBERK offers small business owners simple, low-cost workers’ compensation insurance. biBERK eliminates the intermediary, allowing you to obtain insurance directly from the source. According to its website, you can expect to save up to 20% on your bills. You’ll also save time right away thanks to its simple online quote tool and claims process.
Finally, because Berkshire Hathaway is led by the legendary Warren Buffett, you may rest assured that biBERK will inherit its parent’s experience, stability, and dependability.
#7. Suracy
This offers a suite of services to help you secure your business, manage risk, and develop. Suracy goes above and beyond the conventional quotation and coverage to assist businesses of all sizes in assessing and managing risk. Suracy tailors its solution to your company’s existing status.
It will adjust your coverage as your company develops and grows. Franchises, multi-location enterprises, nonprofits, unions, associations, and religious organizations are among the current Suracy customers. Suracy’s online claims service is available 24 hours a day, seven days a week.
Read Also: WORKERS COMPENSATION VIRGINIA: The Ultimate Guide
Workers Compensation Insurance Florida Requirements
The majority of businesses in the state provide workers’ compensation. However, there are unique eligibility requirements for workers’ compensation insurance in Florida, as well as possible benefits.
Workers’ compensation regulations in Florida are in place to offer much-needed benefits, but the process of obtaining them can be complicated. Under Florida’s workers’ compensation insurance requirements, all relevant documentation must be accurate and detailed, and each step must be properly followed.
Employers may also object to a workers’ compensation claim. They may also attempt to claim exemption when this is inaccurate. When you are already in a terrible circumstance, anxious, and in pain, this can be quite difficult.
When you or a loved one requires Florida worker’s compensation, it is best to consult a lawyer for help in obtaining cash benefits. They will work tirelessly to achieve the best possible result for you.
Who in Florida Requires Workers’ Compensation?
According to Florida workers’ compensation legislation, most businesses with four or more employees require workers’ compensation coverage. However, your sector, staff size, and employee type all have an impact on the specific coverage you require.
The following industries require a workers’ compensation policy:
- Construction companies that employ at least one person. Keep in mind that corporate officials and members of limited liability companies (LLCs) are also considered workers.
- Workers’ Compensation in FloridaNon-construction companies with at least four employees. This comprises corporate officers and LLC members as well as business owners.
- Agriculture-related companies employ at least six people. Insurance is also required if 12 temporary employees work more than 30 days in a season but no more than 45 days in a calendar year.
- Out-of-state employers with employees in Florida must have a workers’ compensation policy with an approved insurance carrier.
- Contractors must ensure that they have workers’ compensation coverage for self-employed or independent contractors before beginning a project in the state.
Florida Workers’ Comp Exemption
Workers’ compensation insurance is optional in Florida for a select few businesses and workers. By submitting a certificate of election to be exempt, sole proprietorships and partnerships can avoid paying for workers’ compensation insurance. However, by submitting an election of coverage form to the Division of Workers’ Compensation, these companies can still purchase a policy.
Additional exceptions to workers’ compensation include:
- The Florida Department of State’s Division of Corporations is where businesses that aren’t involved in the construction industry can formally register. A company officer must request an exemption from workers’ compensation.
- LLCs that fall outside of the construction business in Florida must file with the state’s Division of Corporations. The applicant must hold at least 10% of the LLC, and the number of members may not exceed 10.
Construction companies have different exemption qualifying requirements. Construction-related corporations and limited liability companies in Florida must file appropriate paperwork with the state’s Division of Corporations.
- A corporate official or member of an LLC with at least 10% ownership is required to apply.
- Three executive or board members are the maximum allowed to be exempt.
- The cost to apply is $50.
Read Also: BUSINESS INSURANCE INTERRUPTION: Meaning & How It Works?
Florida Workers’ Compensation Law
The lawmakers want the Workers’ Compensation Law to be interpreted in a way that makes sure injured workers in Florida get their disability and medical benefits on time and correctly, and that it also helps them get back to work and make money at a cost that is fair to the employer. The explicit purpose is for workers’ compensation cases to be decided on their merits. The Florida workers’ compensation system is based on the reciprocal renunciation of common-law rights and defenses by both employers and employees. Furthermore, the Legislature intends that the circumstances in a workers’ compensation case not be interpreted liberally in favor of either the injured worker’s or the employer’s rights.
In addition, the Legislature says that disagreements about the facts in workers’ compensation cases should not be interpreted broadly in favor of either the employee or the employer. Instead, workers’ compensation laws should be interpreted in line with the basic rules of statutory construction, not broadly in favor of either the employee or the employer. The Legislature intends to ensure that benefits are delivered to wounded workers as soon as possible. As a result, an efficient and self-executing system that is not an economic or administrative burden must be developed. The department, agency, Office of Insurance Regulation, and Division of Administrative Hearings shall administer the Workers’ Compensation Law in a way that allows system self-execution and the process of assuring timely and cost-effective payment delivery.
What Is Workers Compensation Insurance in Florida?
Most companies in Florida are required by law to acquire workers’ compensation insurance. Employees are compensated for occupationally incurred injuries, regardless of culpability, under workers’ compensation insurance. This coverage protects companies from certain employee harm lawsuits.
Who Is Exempt From Workers Compensation Insurance in Florida?
In Florida, the following businesses are free from workers’ compensation: Businesses in the construction industry with no employees (including you, if you qualify for an exemption) Businesses with three or fewer employees in other industries Agricultural businesses with five or fewer full-time employees or 11 or fewer seasonal employees
How Long Does Workers Comp Last in Florida?
Under Florida workers’ compensation law, an injured worker may get up to 104 weeks of temporary compensation. To claim weekly benefits, the employee must be “no work” or under employer-unachievable constraints.
How Long Does It Take To Get Workers Comp in Florida?
Even if you begin receiving salary replacement benefits on the eighth day of your incapacity, you will not get a cheque on that day. Legally, injured workers receive their first workers’ compensation check within 21 days after reporting their accident to their employer.
What Is the Maximum Workers Comp Coverage in Florida?
The policy’s standard limit is $500,000, which can be extended. Each Employee An insurer will cover the most for any one employee’s disease-related physical damage under coverage (B). Each employee’s standard limit of liability is $100,000, which can be adjusted.
What Are the Rules for Workers Comp in Florida?
Regardless of the number of employees, all construction-related businesses must obtain coverage. The only stipulation is that they must be able to lawfully file an owner exemption. In Florida, all non-construction businesses with four or more part-time or full-time employees must have worker’s compensation insurance.
What Happens if I Get Fired While on Workers Compensation in Florida?
Florida’s workers’ compensation system compensates injured workers until they recuperate or reach MMI. The only time workers’ compensation would stop paying out after termination is if the employee was fired for cause.
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