Comply with state laws
Avoid fines
Protect your employees
Protection from lawsuits
...'cause they can get hurt
As a property manager in Florida, you not only have to comply with state regulations, but you also face unique risks. From tropical storms to year-round outdoor maintenance, managing properties in Florida comes with its own set of challenges. Workers’ compensation insurance ensures you're covered when things don't go as planned.
In Florida, property management companies with four or more employees are required by law to carry workers' compensation insurance.
Failure to provide proper coverage can result in severe penalties, including stop-work orders and fines. You may also be required to pay backdated premiums, potentially doubling what you would have paid if your workers were properly insured from the start.
Learn more about Florida Workers’ Compensation Rules here.
Workers' comp covers injuries sustained while on the job, whether it’s on-site at a managed property or during off-site errands, company events, or even during a building visit. This means that if one of your maintenance workers gets hurt while traveling between properties, or a leasing agent is injured during a company retreat, workers’ comp can help cover medical expenses and lost wages.
Workers' comp insurance provides protection to both the employer and the injured worker. Like other types of insurance, it’s there to help in the event of an incident.
If a worker gets hurt on the job, the insurance company will help pay for the costs associated with their care so the worker is provided for until they return to work.
Since the company had an active workers' comp policy, they are not responsible for paying the medical bills.
For more details on property management class codes, visit this guide: Property Managers’ Workers’ Compensation Class Codes
9012 - Property Managers - Leasing Agents, Clerical & Salespersons
9015 - Building or Property Management
9015 - Camps With Overnight Accommodations
9015 - Real Estate Management
9015 - Property Management for Trailer Parks & Mobile Homes
9015 - Property Management for Strip Malls
9015 - Public Swimming Pool Operation & Maintenance
9015 - Beach Bathhouse
Here’s how to save money:
Classify your workers correctlyFor example - Employees who do clerical work have a different code (8810). Lumping them together with manual labors will increase your premium.
Don't underestimate your payroll
If your payroll is more than was estimated at the beginning of the policy, it will be discovered at audit and you will be billed for the difference.
Have a clear process to report claims
...and make sure your employees know about it. This will make the entire experience easier for all involved. It can even help keep your costs down!
Report every incident- even if it didn't result in a large injury. Some things which seem insignificant can snowball into costly issues.
For more strategies, check out these 5 tips on how property management companies can reduce their workers' comp costs.
Yes, it can be. Workers classified under 9015 are meant to handle light maintenance tasks like changing locks, painting, lightbulb changes, or helping tenants with small issues. When it comes to bigger jobs like HVAC or plumbing, which are considered high-risk, those should be handled by insured subcontractors. Always collect Certificates of Insurance (COIs) from subcontractors to avoid being held responsible if they get injured.
A smart way to avoid liability is to recommend subcontractors to the property owner, but let the owner pay them directly. This way, you stay out of the middle, avoid extra risk, and still provide a trusted solution for larger repairs.
In property management, leasing agents, clerical employees, administrative staff, and anyone involved in marketing properties are typically classified under 9102, not 8810. This applies even if they are showing properties.
Yes, as the owner, you can opt out of workers' comp. However, be careful. If you opt out, you won’t be covered if you get hurt on the job. Even if you have health insurance, it may not cover injuries that happen while you’re working, which could leave you responsible for expensive medical bills.
Yes, but it may limit your insurance options. Subcontracting more than 50% of your work can raise red flags for insurance companies, as they may perceive a higher risk. To ensure coverage, maintain a balanced mix of in-house and subcontracted work.
Workers' comp ensures that if an accident happens, medical bills and lost wages are covered, allowing your team to focus on recovery while your business continues uninterrupted. Whether you're growing your portfolio or simply looking to stay compliant with Florida regulations, we’ll help you find coverage that meets your unique needs.
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