Florida Workers Compensation – Need to Know Information

Every state sets its own requirements for workers compensation insurance policies and coverage. That’s why it’s so important to take a closer look at what your state may require, and to ensure you stay in compliance with all of the latest regulations. Here, we’ll offer a rundown of Florida workers compensation requirements and how they break down their mandates.

The state of Florida has regulations for this which are a bit more complex than some other states. They offer two different ways essentially of breaking down their requirements, based both on business size, as well as industry type.

One reason for this is the prominence of the agricultural industry in Florida, which is different from many other states in the country. Not only is it a huge industry in the state, but also as opposed to certain other areas, it’s highly seasonal.

Therefore, agricultural businesses who either have 12 seasonal employees, for 30 days or longer, or those who have six regular employees throughout the year, are required to have workers compensation coverage.

Meanwhile, in the construction business, there is no employee minimum. The mandate is that any employer in the construction industry must provide workers compensation insurance, with no exceptions.

Agricultural and construction are the two industries with their own rules. For all other businesses across their myriad industries the requirement or minimum is for four or more employees.

Employees may be either full-time or part-time in all instances above. That’s to prevent employers from keeping more part-time employees simply to avoid insurance and other responsibilities. Businesses with corporate structures, board members, and so forth, may be able to apply certain waivers or exceptions, but those can be handled on a case by case basis.

Another factor to keep in mind is when your policy may expire and in turn need to be renewed. There is no strict mandate on what this date is in Florida. That said, for many businesses the expiration date will be set for the end of the calendar year, on December 31st. It’s important to keep that in mind for your end of the year planning then.

For any business owner or manager who’s trying to properly maintain their coverage for this and all other types of insurance or business bonding, it’s important to work with a local expert who can help guide you through the process. Always consult with a pro before handling any matter on your own, to be sure that you’re completing all of the necessary steps and are doing so in the right fashion.