Worker's Compensation insurance in Florida is a requirement by law once you have a certain number of employees. There are various ways for you to save money on the policy, which makes it easier for you to afford the policy and protect your employees at the same time.

SAFETY PROGRAM

A safety program should be in place so you can train employees and keep your location as safe as possible. What you include within your safety program will depend heavily on the industry. You might need to:

  • Train employees on equipment
  • Show employees where MSDS binders are kept
  • Keep extensive training records

It’s also a good idea to form a safety committee within your safety program so various employees can provide valuable input. What a manager sees and what an employee sees can be different and therefore you want input from all levels.

SAFE WORKING ENVIRONMENT

A safe working environment is something you can absolutely have – though it’s going to take some work. Part of this involves the commitment on your end to invest money into the safety of your location. There may be repairs that need to be made, and various safety features to be added, such as intercoms for communicating between departments as well as hand rails in a number of areas.

PPE AVAILABILITY

PPE, otherwise known as personal protective equipment, needs to be readily available. You can prevent accidents in many instances by using PPE and offering it to your employees. It’s a good idea to require PPE so that there is a less likely chance of someone getting injured. Common forms of PPE include: gloves, ear plugs, respirators, goggles, helmets, flak vests, chem gear, and more.

REGULAR INSPECTIONS

Schedule regular inspections of your property. This can be done by your safety committee or you can hire a third party to perform them on your behalf. The goal is to identify issues that pose a safety threat before someone becomes injured. A loose railing, uneven pavement, or a lack of PPE are just some of the things that might be discovered during an inspection.

RATE COMPARISONS

Finally, if you are concerned about saving money on workers' compensation insurance in Florida, you will want to compare rates. While you can contact a variety of insurance companies on your own, the easier option is to contact an independent insurance agent. An agent will be able to guide you through the process, answer questions that you may have about this type of business insurance, and get quotes from multiple companies.

Whether you have had Florida Worker’s Compensation insurance for months, or for years, there is no reason to spend more than necessary. Following some tips can help to keep your employees safer and therefore reduce the cost of insurance because of not having multiple claims per year.