When you have a business you have a moral and statutory obligation to carry the correct types and amounts of business insurance coverage. If you choose not to have the right coverages, whether it is through ignorance or pure disregard for laws, then you will eventually find yourself in a bit of trouble.

Whether you find yourself in a legal predicament where not having the right coverage puts your company in a financial bind, or your company gets audited by a state agency and it turns out you are not carrying the right type of coverage, the net result is the same. You may just find yourself up the proverbial creek without a paddle.

Recently the state of Florida conducted a two-day sweep of employers looking for companies that did not have workers compensation insurance coverage for their employees. During the operation, state investigators contacted 888 companies, went to 435 work sites and found 70 companies with violations that resulted in state orders to cease work until fines are paid and the proper insurance is in place.

When it comes to workers compensation insurance coverage, some companies will do everything in their power to not pay what they owe, or to not even bother with this required coverage. Depending on the state that you are in, there will be different requirements for the number of workers a company can have before they are required to carry this important coverage. For example, in Florida, non-construction related industries must carry workers comp coverage when they have four or more employees (excluding exempt owners), while any construction related company must have coverage if they even have one employee (including the owner).

Does your company need workers compensation insurance coverage? If so, do you have the right type and sufficient amount of coverage? A simple Google search for your state’s requirements will tell you if workers comp coverage is required for your business.

Getting a workers compensation insurance quote couldn’t be easier. By filling out one secure, online form, you can quickly get free workers compensation insurance quotes from leading providers.

As a business owner you owe it to your company and your employees to carry sufficient business insurance coverage. Workers compensation insurance is just one of the many types of available large, small and home based business insurance coverage that your company may need to have. Don’t find out when it is too late that you are underinsured. Contact a business insurance broker today!

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