Florida Workers Compensation Insurance

Florida Business Owners here is what you need to know:

Who is required to carry Workers Compensation in Florida?

Construction Industry

An employer in the construction industry who employs one or more part or full-time employees must obtain workers' compensation coverage. In the construction industry only, members of a limited liability company are considered corporate officers. Corporate officers may elect to exempt themselves from the coverage requirements, but must cover employees.

Non-Construction

An employer in the non-construction industry, who employs four or more part or full-time employees, must obtain workers' compensation coverage. Corporate officers are considered employees, unless they elect to exempt themselves from the coverage requirements. Sole proprietors and partners in the non-construction industry are not considered to be employees unless they elect to be employees.

What is a "Stop Work" Order ? (Click here)

How much does Workers Compensation cost? (Click here)

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 What can happen if you don't get coverage?

The Division of Workers' Compensation enforces employer compliance. Investigators conduct inspections and may issue a Stop-Work Order, ceasing all business operations if the employer lacks the required Florida workers' compensation coverage. The Division will also assess a penalty equal to 1.5 times the amount the employer would have paid in premium within the preceding three-year period.

For example: If a contractor had 2 employees for 3 years performing residential carpentry operations at a combined annual payroll of 45,000. The current rate per 100 of payroll for carpentry is $00.00 The annual premium for this business would have been 0,000. Multiple that number by three years and 1.5 times for the penalty and the total fine is $00,000. Avoid the fine, get coverage. We can help.

At an affordable Monthly premium, in most cases with a $200 deposit. Click here for a quote sent direct to your e-mail customized in less than 24 hours!

A Stop-Work Order may also be issued if an employer understates or conceals payroll, misrepresents or conceals employee duties or otherwise attempts to avoid paying workers' compensation premiums. Such actions could also result in criminal charges and penalties. In order for the division to release a Stop-work order, an employer will be required to provide evidence of compliance and pay the assessed penalties. The Division may initiate lien proceedings to collect any penalty due that has not been paid. In addition, the Department may refer any unpaid penalty that is due to a collection agency for the initiation of proceedings to collect the unpaid penalty.

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How much does Workers Compensation cost?

Based on your business classification a rate per $100 of payroll is provided. Here are a few common codes, the trade description and the current rate per hundred of payroll:

                     Office / Clerical work - $0.86 ?                          Bar / tavern worker: 

                     Retail / Shop, Cashiers:                                    Carpentry : $14.25

                     Concrete construction: $12.45 ?                       Flooring Installer:

                     Landscapers:                                                    Plumbing Contractors:

                     Restaurant Workers:                                        Roofing Contractor:

Other factors can affect the base rate, State taxes and expense constants are added to the base rate. Most companies will allow a low to minimum down payment to get started. Premiums after the deposit are paid as payroll is reported for the period of time covered.

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