The Employer's Guide to Florida Workers' Comp Insurance

Workers' comp insurance is crucial for employers in Florida because it provides coverage to injured workers due to workplace accidents or illnesses. It supplements their income when they cannot work and also pays out medical bills, rehabilitation costs, and other expenses related to the injury. It can also provide death benefits in the event of an employee's death due to a job-related accident or illness.

Workers' comp in Florida is intended to be the primary source of financial help for injured workers and their families, so employers must understand their responsibility regarding providing coverage. 



Florida requires that all employers carry at least some form of workers' compensation insurance. Without this coverage, employers may be liable for the medical and financial costs associated with an employee's injury.

What is Workers' Comp Insurance?

How Do I Obtain Workers' Comp Insurance in Florida?

In order to purchase workers' comp insurance in Florida, employers must first select a workers' compensation insurance carrier. The employer will then need to provide the carrier with information on their business and its employees, such as payroll and job descriptions.



Once this is done, the carrier will calculate the premium rate based on these factors, and the employer can purchase a policy.

Who Needs Workers Comp Insurance in Florida?

In Florida, all employers (including private individuals, corporations, and other entities) must carry at least some form of workers' comp insurance. This includes both public and private employers, regardless of size or type. Employers can face legal consequences if they fail to comply with this requirement. Here is an overview of businesses that must have workers comp insurance in Florida:

a) The Construction Industry

The construction industry is critical regarding workers' comp insurance in Florida, as accidents and injuries can happen more frequently. All contractors, subcontractors, builders, and related businesses must carry workers' comp insurance to provide employees with the necessary financial assistance if they become injured or ill during work. 

This will help protect employers from potential lawsuits and give them peace of mind knowing their employees are taken care of. Having a workers' comp policy in place can help employers stay compliant with state laws.

b) Agriculture

Agricultural employers in Florida must also carry workers' compensation insurance. This includes farms, ranches, and any other agricultural businesses that employ more than five regular employees or twelve seasonal employees at one time. This requirement aims to ensure that all farm workers are taken care of if they become injured or ill during work.

c) Manufacturing

Manufacturing employers in Florida also need to have workers' comp insurance. This includes any business that manufactures products such as clothing, electronics, furniture, and more. By having a policy in place, these employers can protect themselves from potentially costly lawsuits related to workplace injuries and illnesses.

d) Retail

Retailers in Florida must carry workers' comp insurance for all of their employees. This includes stores, supermarkets, gas stations, and any other type of business that sells products to customers. Having a policy in place can help protect employers from legal consequences if an injury or illness occurs while an employee is on the job.

e) Healthcare

Healthcare businesses in Florida must also have workers' comp insurance for their employees. This includes hospitals, clinics, nursing homes, rehabilitation centers, and any other type of healthcare facility. In addition to providing financial assistance for injured or ill workers, having a policy in place can also help protect employers from lawsuits related to workplace injuries and illnesses.

f) Other Businesses



Any other type of business with more than five regular or twelve seasonal employees must also carry workers' compensation insurance. Having a policy in place can ensure that all employees are taken care of if they become injured or ill on the job. It can also help employers protect themselves from any potential legal consequences of workplace injuries and illnesses.

Overall, all employers in Florida need workers' compensation insurance to provide their employees with financial assistance if they become injured or ill while working. 

It is important for employers to understand the requirements of carrying out such a policy and ensure they comply with all state laws. Doing so will help them avoid potential lawsuits and give them peace of mind knowing that their employees are taken care of.

What Is the Cost of Workers’ Comp Insurance in Florida?

The cost of workers' comp insurance in Florida will vary depending on a few factors, such as the type of business and the number of employees. Generally, the more employees you have, the higher your premium will be. Certain industries may also be subject to additional fees or higher premiums due to their hazardous nature.

That being said, the average cost of workers' comp insurance in Florida is around $1.66 per $100 of payroll. This means that if you have a business with an annual payroll of $500,000, your annual premium will be around $8,300. However, as mentioned above, this cost may vary depending on the type of business and the number of employees.



It is important to note that this cost can vary based on the type of coverage you choose. For example, some policies may include additional coverage for things like medical treatments or death benefits. Additionally, certain employers may be subject to discounts depending on their safety record and other factors.

What Are the Workers’ Compensation Insurance Limits in Florida?

In Florida, the state sets all the limits for workers' compensation coverage. When you request a quote for workers' comp, your rate will be calculated based on your payroll and other factors without any additional input required from you. 



Additionally, the amount that the insurance company may pay out in the event of a claim, such as permanent disability, is theoretically without limit. This means that in the event of a work-related injury leading to permanent disability, the insurance company may provide benefits to the affected worker for the remainder of their life.

What Does Workers’ Comp Insurance Cover in Florida?

Workers' comp insurance in Florida covers a wide range of injuries and illnesses that occur while an employee is on the job. Here are details of what Florida workers' comp insurance covers:

a) Medical Expenses

Workers' comp insurance in Florida covers medical expenses related to a workplace injury or illness. This includes bills for hospital stays, doctor visits, medications, and any other type of treatment necessary for the employee's recovery. 

Depending on the policy, it may also cover the cost of future treatments if an employee is permanently disabled due to injury or illness. If necessary, the insurance may also pay for medical transportation costs, such as ambulance rides or airlifts.

b) Lost Wages

If an employee cannot work due to their injury or illness, workers' comp insurance can provide them with a portion of their lost wages. Generally, the amount is about two-thirds of the worker's regular pay and can help cover expenses while out of work.

Here are the different kinds of wage benefits in Florida:

• Temporary Total Disability Benefits (TTB): This benefit is paid if an employee can no longer work while recovering from their injury or illness.
• Temporary Partial Disability Benefits (TPD): This benefit is paid if an employee can still work but with restrictions due to injury or illness.
• Permanent Partial Disability Benefits (PPD): This benefit is paid when an employee has suffered a permanent disability resulting from a workplace injury or illness, such as loss of function in a body part or limb.
• Permanent Total Disability Benefits (PTD): This benefit is paid when an employee cannot ever return to work because of their injury or illness, regardless of whether it was caused by the workplace.

c) Death Benefits

Workers' comp insurance in Florida also provides benefits for surviving family members if an employee passes away due to a workplace injury or illness. This typically includes funeral expenses as well as financial assistance for dependents who the worker financially supported prior to their death.

What Happens If I Don’t Get Workers’ Comp Insurance in Florida?

If you are an employer in Florida and fail to provide workers' compensation insurance, you may face serious penalties. Here are some of the consequences:

a) You can be charged with a felony: In Florida, failing to provide workers' comp insurance can be considered a felony. This means that you could face jail time and hefty fines for not following the law.

b) You can be sued: If an employee is injured and you do not have workers' comp insurance, they could be able to sue you for compensation. Even if you win the case, it can still cost you a lot of legal fees and medical expenses.

c) Your business can be shut down: The Department of Financial Services or other government agencies may shut down your business if you do not have workers' comp insurance. This could mean that you will no longer be able to operate in the state, which would be financially devastating.

d) Alien can be placed on your property: If you fail to provide workers' comp insurance, the Department of Financial Services can place liens on your property. This means that they will claim a portion of any money earned until you have fulfilled all of your obligations under the law.

It's important to remember that workers' comp is not only a legal requirement in Florida but also a way for you to protect your employees and your business. Having the right insurance coverage can save you a lot of time, money, and hassle in the long run.

Having Questions? Let Us Know Today.

Bellken Insurance Group is here to help answer any questions about workers' comp insurance in Florida. Our experienced agents are knowledgeable and can provide you with the information and advice you need to ensure your business has the best coverage for your employees. We understand how important it is to stay compliant with the law, so let us help you ensure that your business is in compliance. 



Contact us today, and let us help you understand the nuances of workers' comp insurance in Florida. We look forward to hearing from you!