Workers' Compensation Insurance for Florida Employers

Business Insurance for Workers' Compensation

Workers' compensation insurance protects both your employees and your business when workplace injuries occur. This coverage pays for medical treatment, rehabilitation, and lost wages when an employee gets hurt or becomes ill due to their job. In Florida, workers' compensation is required by law for most businesses, and it provides crucial protection that prevents employees from suing you for workplace injuries. It's not just about legal compliance; it's about taking care of the people who make your business successful.

Why Your Business Needs This

• Florida law requires workers' compensation for most businesses with four or more employees
• Workplace injuries can result in expensive medical bills that quickly accumulate
• Operating without required coverage exposes you to severe penalties and fines
• Employees who can't work due to injury need income replacement to support their families
• Workers' compensation protects you from employee lawsuits related to workplace injuries

What It Covers

Workers' compensation covers all medical expenses related to workplace injuries, including emergency treatment, hospital stays, surgery, medications, and physical therapy. It provides wage replacement benefits when employees can't work due to their injuries, typically covering a percentage of their regular wages. The policy covers rehabilitation services to help injured workers return to their jobs. If an injury results in permanent disability, the policy provides disability benefits. In tragic cases involving workplace fatalities, workers' compensation provides death benefits to the employee's family. The coverage also handles legal costs if disputes arise over claims.

Who Is Required to Have Workers' Compensation in Florida?

Florida requires workers' compensation for construction companies with one or more employees, non-construction businesses with four or more employees, and businesses in agriculture with five or more regular employees or twelve or more seasonal employees. Corporate officers can elect to be exempt, but this requires specific documentation. Sole proprietors and partnerships can opt into coverage voluntarily. The Gordon Agency helps you understand your specific requirements based on your industry and employee count, ensuring you maintain proper compliance.

How Are Workers' Compensation Premiums Calculated?

Premiums are based on your industry classification codes, which reflect the risk level of different types of work. Your payroll amount directly affects your premium, as coverage is calculated per hundred dollars of payroll. Your claims history plays a significant role through an experience modification factor that can increase or decrease your rates. Businesses with strong safety programs and few claims earn lower premiums over time. The Gordon Agency works with carriers that offer competitive rates and helps you implement safety practices that can reduce your long-term costs.