Florida Workers Compensation Insurance
At Norton Insurance of Florida, having a workplace that is protected gives you extra security. As a Florida employer, you have an obligation to ensure a safe work place and the law requires a business to have Workers Compensation Insurance. Work Comp insurance is one of those coverages that people are often more familiar with than they want to be but less than they need to be. It can be complicated and varies widely state-by-state so it’s important to talk with an agent who understands your home-state requirements.
Norton Insurance of Florida can offer many different programs for different industries in Florida, in order to customize a package that fits your needs and industry. We take a proactive approach to our clients' Workers Compensation challenges. We will work to reduce your insurance costs, thereby saving you money this year and years to come.
Price is a relatively simple calculation of % of payroll with a modification (if you have one) and a few fees. The policy wording on most are very interchangeable and rates are published in Florida, making them less industry driven than in other states. As a result, insurance companies compete on:
- Dividends- a % of your annual premium returned to you if you meet certain criteria, often related to paying on time and low or no losses. I’ve seen as much as 15%
- Convenience- some companies have websites that make payments and audits easier to modify
- Loss-prevention assistance, training in safety, materials for improving the workplace and availability to be a partner in advocating for employee help and return to work
Tips for properly insuring your Florida Workers compensation:
- Discounts are available for drug-free workplace and safety controls
- Be sure the states you work in are specifically listed
- Subcontracted work is a big factor, both how much is subbed, what type of work is subbed, and whether or not the subs have their own insurance
- Different insurance companies treat 1099s differently, many can be considered “employees” for work comp purposes whether you want them to or not
- Exemptions expire and it’s up to you to keep them active, otherwise the insurance company will automatically include you
- Check your state’s department of labor websites to be sure you know the regulations on your side
- Be sure to post the labor law documents included in most policies
Servicing your work comp insurance needs in Florida
Having the proper Florida workers compensation coverage can protect your employees and your business from loss and financial damage. At Norton Insurance of Florida, we can service your work comp insurance needs in Fort Walton Beach Florida including the Crestview, Destin, Miramar Beach, Niceville, and Santa Rosa Beach areas.
