Workers' Compensation Coral Springs
Simple, affordable, and comprehensive coverage is available for your company, as well as the people on your payroll. Whether you are running an established brand or a start-up, all small businesses should consider getting Workers' Comp. Coral Springs-based businesses will have to if employees are on the payroll.
Workers' Compensation coverage offers benefits to staff members for illnesses or injuries that are work-related. They can receive compensation for lost wages and medical care, among other expenses.
What is Workers' Comp Insurance?
It doesn’t matter what kind of business you’re running – no one is immune from accidents. Thankfully, Workers' Compensation will provide your business and employees with critical benefits that keep everybody protected when work-related illnesses or injuries transpire.
Workers' Comp protects your company and members of your staff with the following coverage:
- Missed Wages to cover ill or injured workers as they take time off work to get better.
- Medical Expenses to take care of ill or injured workers affordably.
- Vocational Rehabilitation ongoing care can help injured employees recover, expediting their return to work.
- Compliance with State Laws - you won’t have to pay any fines, nor will you be penalized by the state for failing to cover your employees with the proper insurance.
- Minimize Out-of-Pocket Expenses - OCMI’s affordable Pay-As-You-Go our inexpensive, Pay-As-You-Go plans keep you protected from costly workplace illnesses and injuries.
- Lawsuit Protection - if you were to get sued, the business will be protected. That is because Workers Compensation Insurance comes with employer liability coverage.
- Death benefits can be used to cover the costs of funeral expenses in the event that a member of your staff dies because of an incident that happened at work.
Who Need Workers' Comp Coverage?
Coral Springs-based companies that have employees on their payroll, for starters. As per Florida state law, companies in the construction sector are obligated to get Workers' Compensation Insurance right after hiring an employee. Non-construction companies must also carry Workers' Compensation once the number of employees on their payroll reaches 4 total.
In some cases, you might not need Workers Comp. Coral Springs business owners should speak with a representative of the state and determine if mandatory coverage applies to them.
Running your business without the necessary coverage will put you at great risk for a civil penalty. When that happens, your company might be subjected to stop-work orders, preventing the business from running altogether. To get things running again, the company must be in full compliance with all relevant laws, and any outstanding penalties need to be taken care of.
If stop-work orders are not complied with, then criminal charges may ensue. Simply make sure that the coverage you get complies with Florida law. That way, you can bypass penalties imposed by the government. Also, employees that receive Workers' Compensation Insurance won’t be able to sue the company (or you) for lost wages or injuries.
Keep Your Coral Springs Business Protected with OCMI Workers' Comp
Coral Springs-based businesses can get an immediate quote if they have the information below ready:
Your preferred Coverage Start Date, EIN or SSN, and Business Overview (including details about your business).
Types of Workers’ Comp Insurance
How is Workers' Compensation Calculated?
Because Florida is a "base-rate" state, insurance rates will be state-mandated, at least initially. All occupations have class codes assigned to their specific scope of work. The state will determine what percentage will be assigned to your class code. Workers Compensation will be calculated by multiplying gross payroll by the insurance rate.
OCMI Workers' Comp provides business owners with simplified and affordable insurance programs, regardless of how many staff members are on the payroll. Feel free to ask us any questions - we will be more than happy to answer them for you. Prevent your business from being subjected to costly medical expenses, employee lawsuits, or state penalties. Receive a FREE instant quote!
Affordable Workers' Comp to Protect Your Coral Springs Company
Workers' Comp. is mandated by Florida law. There are some exceptions to the rule, so it would do you well to consult the state to see if mandatory coverage applies to your company.
You put your company at great risk, financially, if you forgo Workers' Comp. Coral Springs-based businesses may be subjected to lawsuits if an employee sustains an injury at the workplace. You may also be penalized for not following the law.
$16.56 per emp
$18.52 per emp
$28.72 per emp
$19.16 per emp
Child Day Care
$6.04 per emp
$26.32 per emp
$20.04 per emp
$32.04 per emp
$31.32 per emp
Carp. Shop Only
$32.04 per emp
$11.92 per emp
$24.00 per emp
$19.52 per emp
$42.08 per emp
$38.92 per emp
$19.32 per emp
$35.60 per emp
$67.92 per emp
$36.00 per emp
$22.52 per emp
$37.00 per emp
$36.80 per emp
Call for Rates
Be mindful that Workers' Compensation Insurance will not only protect your employees – your company will be protected as well. The insurance you get must be in full compliance with state laws. Any employee that is entitled to benefits won’t be able to take you to court for lost wages or injuries they suffer on the job.
Why OCMI for Workers’ Comp Coral Springs?
Coral Springs business owners love our highly rated insurance coverage because of its affordability. We also expedite the entire claims process, making it stress-free from start to finish. We are committed to helping all business owners select a suitable type of coverage that fulfills business and state requirements – ones that don’t come with extra costs or hassles. We simplify the process to get coverage.
Some Industries We Service
FAQ's: Workers' Compensation Coral Springs
Below you will find answers to our most commonly asked questions about Workers' Compensation Insurance Coverage in Coral Springs, Florida.