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Non-construction companies with four or more full or part-time employees are required to buy workers' compensation insurance in Florida. All construction related businesses are required to purchase coverage regardless of the number of employees unless the entity is permitted to file an owner exemption.
Construction related companies are almost always required to have coverage. Sole-proprietors and partners are not allowed to be exempt from workers' comp insurance. A corporation or an LLC may exempt up to 3 Officers if each Officer owns a minimum of 10% stock.
Sole-Proprietors and Partners (non-construction) are not required to cover themselves on workers' compensation and are automatically excluded. They can elect to be covered by filing form DWC-251. A Notice of Election Form WC1415 form must be filed with he state and insurance company.
Corporate Officers (non-construction) can be exempt from coverage if they own stock and hold office on the Board of Directors.
LLC Members (non-construction) are treated as employees automatically, but they may elect to be exempt from coverage.
Sole-Proprietors and Partners included in coverage are required to utilize a minimum payroll of $57,100.
Executive Officers who are included in coverage must use a minimum payroll of $57,200 and a maximum payroll of $171,600 for premium rating. Officers in the construction industry must use a minimum of $23,400.
LLC Members minimum payroll requirement is determined by how the LLC is established for tax purposes: sole-proprietor, partnership, or corporation. Contractors will all be treated as a corporation.
The state of Florida provides a free online tool for verifying workers' compensation insurance coverage. Anyone can search by business name or FEIN. The results will only show the business name and policy number for employers who have coverage in the state being searched. The information is managed by the Florida Division of Workers' Compensation.
Florida workers' comp verification
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Workers' compensation is a commercial insurance product categorized as Property & Casualty
insurance (P&C Insurance). Even though workers' comp is calculated using estimated payroll wages and class
codes, premium is still a separate business expense from the cost of payroll. Florida Employers may treat the cost
of coverage as an expense on their taxes.
Work comp rates for all job classification codes are always expressed as a percentage of $100 in
wages. An annual policy is always subject to an audit because it was based on estimated wages and not actual
Here is an example using two class codes with different estimated payroll for each class code:
In order to calculate the cost of the policy you only need to multiply each rate with its divided
payroll. It benefits employers to re-calculate their premium as their payroll becomes larger than originally
* Additional premium costs may also include an expenses constant, terrorism charges, catastrophe charges and other state surcharges such as a second injury fund or other state assessment fees.
Every state has their own laws to determine how employees must be covered and how they must be
classified for rating premium. A lot of states use state specific class codes and have different requirements for
who is obligated to carry workers' compensation insurance.
If you have employees that travel out of state for work, or they work in multiple states
throughout the year, you may need to buy a policy for each of the states where your employees are located and
working. In most cases, you can cover multiple states on one policy.
Workers' Compensation Insurance in Florida can
be purchased from private insurance companies authorized by the state to provide coverage. The Assigned Risk Pool,
or an alternate State Insurance Fund,
is available for businesses that are unable to find coverage from a private company. Our specialists help will
help you navigate your best options.
Policy premium is based on numerous factors including: class codes assigned to your business and
employees, estimated payroll, covered states, prior policies, owner experience and previous workers compensation
See Florida workers'
comp insurance laws
Florida workers' compensation insurance helps pay claim
expenses when an employee, or a covered sub-contractor, is injured while working for your business. It also shields your
business from other legal liabilities associated with an injured employee. Work comp coverage includes:
Workers' comp insurance pays for the medical expenses associated with claims or injured workers. The cost of
an ER visit, required surgeries and drug prescriptions are some of the covered expenses included under a policy. An
employee injured due to a slip and fall would be covered, for example. Coverage for medical benefits can also include longer term
expenses such as physical therapy or rehabilitation.
Employee Wages- Income Benefits
Most business owners can't afford to continue paying employees if they are unable to work while they are
injured. Workers' comp income benefits in Florida will replace most of your
employees missing income if they are away from work due to an injury or illness. For example, if a construction employee
broke his arm and could not perform the job for 8 weeks, the coverage would make payments to the employee to help replace
the lost wages.
Short-Term and Long-Term Disabilities
Sometimes an injury can cause a partial disability or a more permanent disability. Workers' compensation steps in to help pay the cost of ongoing medical bills and may even replace a portion of wages lost due to the disability. If an employee had a finger amputated due to a work related injury. The employee could be paid a sum (known as an Impairment Rating) for the loss of the finger for permanent disability as well as some temporary disability coverage while recuperating.
Some types of work environments can include occupational exposures that have unforeseen circumstances. A chemical mixing operation, for example, may expose employees to chemical irritants and cause harmful reactions that make them sick. A workers' comp policy would cover the cost of treating an illness caused while performing the job.
Nearly 50,000 deaths happen at work each year. Many of these are in the construction and trucking industries.
A workers' compensation policy is designed to cover the cost of these funerals and to provide death benefits to the employees family. State guidelines often determine the dollar amount of coverage.
Workers' compensation coverage is a No-Fault system designed to prevent costly employee lawsuits related to on-the-job-injuries. Many state provisions include Exclusive Remedy rules that protect covered businesses from these lawsuits in exchange for providing workers' comp coverage for their employees. Claims should be reported to a supervisor with 30 days. Employers should also report any claims or accidents to their insurance company within 30 days from notification.
Enjoy the benefits of our Pay As You Go Workers' Comp Options in
$O Deposit or Minimum Down
We've developed Pay As You Go workers' compensation programs that reduce or eliminate premium deposits and allow Florida employers to report and pay premium based on actual payroll wages. Protect your business from audits.
More Payment Options
We've negotiated special deals with many of our insurance partners. We offer more flexible payment options, like 12 equal installments plans and monthly reporting programs, to help improve cash flow for our business owners.
Florida Comp Specialists
We're a national agency, but Florida is one of our top states for workers' comp coverage. That's because we offer dozens of insurance companies that specialize in workers' compensation. Their looking to quote your insurance today.
FL Workers' Comp Specialists
State regulations regarding owners and officers' ability to include or exclude themselves from coverage can be cumbersome. Rules vary significantly between non-contractor and construction related risks. We'll help you navigate the laws and get the most affordable policy.
FL Class Codes
Insurance rates can vary significantly between NCCI classification codes. Let our FL Workers' Compensation Specialists help you determine your correct workers' compensation class codes before your buy a policy. We'll help make sure your business is properly covered.
Fast Workers' Comp Quotes
We make the process of getting workers' compensation quotes fast and easy. We know your time is valuable. That's why we work harder to streamline the quote process, compare your rates and coverages, and present your best options as quickly as possible. We often have your insurance quotes ready in less than 24 hours.
Compare Rates With More Carriers
We're a National Agency, and we have tons of carriers offering work comp in Florida. We have access to over 35 insurance companies with a diverse appetite and competitive rates. Our markets know we expect the lowest rates, bigger discounts, and more policy credits when we request a quote.
THE RIGHT QUOTE MAKES A DIFFERENCE.
A BETTER WAY TO BUYWORKERS' COMPENSATION INSURANCE
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