Other business insurance policies that are important in Florida If you don’t have an active policy, your employee could take legal action and ask you to pay for medical expenses, resulting in significant long-term financial losses. If you are not required to provide workers’ comp based on Florida workers’ compensation laws, employees can still file a lawsuit to recover medical expenses or lost wages after a workplace injury.įor example, if one of your employees slips and breaks an ankle resulting in surgery, your workers’ compensation insurance could provide coverage. In some cases, there could be a penalty of double the estimated workers’ comp insurance costs for two years. Stop-work orders happen about 2,500 times a year or an average of almost seven times a day, according to data provided by the state.Īny business that receives a stop-work order has to close until it is in compliance. What are the penalties of not having Workers’ Comp coverage?įailing to provide workers’ comp when required under Florida law can result in a stop-work order enforced by the Division of Workers’ Compensation. In the unfortunate event of an employee’s death, workers’ compensation provides 66.67% of the deceased worker’s average weekly wage to dependents, up to $150,000. Up to two-thirds of the person’s average weekly wage will be covered until they are 75 years old. Ĭases of permanent total disability occur when the person is permanently unable to work. This means they could receive up to 75% of their temporary disability rate and benefits will be based on a doctor-assessed impairment rating. If a doctor assesses an injury will not improve significantly anymore, they can be eligible for permanent impairment disability. They can receive up to two-thirds of their average weekly wage for up to 104 weeks. Temporary total disability means a doctor has verified that the injured person cannot work because of a work-related injury.
Income benefits with workers’ compensation in Florida include one of three options with a maximum annual amount determined by the Florida Division of Workers’ Compensation :
Workers’ compensation does not cover incidents that are not job-related or situations when the injured person violates company policies, commits misconduct or uses drugs or alcohol. Workers’ compensation would help pay for emergency treatment expenses up to the policy limit. You want to make sure it’s not a serious injury, so the employee goes to the emergency room to check on possible head trauma. While on a job, an employee slips on a wet spot on the ground and hits their head hard on a sink. Typically, workers’ compensation coverage can help pay for:įor example, you own a small plumbing business with a few employees. In the event of a work-related death, it can cover burial costs and other expenses up to the coverage limits. Workers’ comp can help pay for expenses related to work-related injuries for employees and business owners. How does Workers’ Compensation work in Florida?Īnywhere from 12,000 to 17,000 people file workers’ comp claims each year in Florida, according to data shared by the state.
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Start a free online instant quote to explore options for your business or continue reading to learn more. It’s not unusual for clients to ask for proof of coverage before signing a contract to work with you, as well. Workers’ comp could also be required in the city where you work or for certain business licenses and certifications. If you or an employee is injured on the job, a Florida workers’ comp policy can help pay for: the expense of having workers’ comp in Florida, you might find that it’s a worthwhile investment.
If you consider the potential out-of-pocket expenses for an injury vs. It might sound like a good deal for your business of three or less to skip the cost of worker’s comp, but not having coverage also means that you could be held responsible for expenses if you or an employee gets hurt on the job. Every business that does construction work - including contractors and self-employed workers - must have coverage. Workers’ compensation insurance is required in Florida for most businesses with four or more employees. Is Workers’ Compensation insurance required in Florida?