Florida requires most employers to get workers comp insurance. This type of insurance is for when someone gets hurt or dies on the job. It is practical to get coverage even if you do not have to under the law. It protects your workers from high medical bills, and you from personal injury claims. This is especially true in risky industries such as oil and construction.
Insurance agency graceybacker.com and other legal professionals list some facts you should know.
It Only Takes One
Generally, you only have to get workers comp if you have four or more part- or full-time workers. This includes the owner, partners, and officers in a limited liability company (LLC). If you have less than four employees, you do not have to get workers comp.
The exception is in construction. If you have a construction company, you will definitely need workers comp because the rules say one or more employees, and as the owner you are considered an employee. If your construction company is not local but you have projects in Florida, you still have to get workers comp, or have an out-of-state policy from an insurer licensed in Florida.
You can apply for an exemption for yourself as the owner and your partners, but you have to pay $50 a year for each application. You can also apply for exemptions for up to three officers in an LLC if they each have at least 10% ownership.
Florida has many farms, so the rules also apply for seasonal farm workers. If you hire 12 or more people to work for you for more than 30 days, you need to get workers comp for each one. The same is true if you have six or more regular workers.
Florida has rules that apply to working minors between the age of 14 and 17. If the minor sustains a job-related injury or dies, and the state finds that you are in violation of the child labor laws, you may be liable to pay the minor or the family up to double depending on what the Worker Compensation Law requires.
Don’t put yourself and your workers at risk. Apply for a worker’s compensation insurance and have peace of mind in case of unfortunate incidents.