As an independent contractor in Arcadia, there are times when the folks working for you fall into gray areas where you may or may not need workers compensation insurance coverage. Do you fully understand the laws and obligations? We do, and it’s still hard to explain or just depends upon your individual situation. Don’t presume or take the word of someone who “may” know. Protect yourself, your interests and your workers and call the experts at California Contractors Insurance. We’ll give it to you straight and tell you exactly the type of workers compensation insurance you need.
Workers Compensation Insurance Specialists Near Me In Arcadia California
The worker’s compensation insurance experts at California Contractors Insurance have years of experience in the field of contractors insurance. Each of our highly skilled and certified agents is adept at designing workers compensation insurance policies that will meet the Arcadia CA 91006 legal requirements and the comprehensive coverage you and your workers need. Do you know what your obligations are when it comes to workers compensation insurance? Don’t guess and hope, find out and get covered. Trust us, you’ll sleep better knowing you have the coverage you need and require. As an independent contractor, you have enough to worry about, let us help provide you with the peace of mind you need.
Free Workers Compensation Insurance Quote – (888) 728-4034
Workers compensation insurance and health insurance are not the same things. Know the difference? We do, so call California Contractors Insurance at (888) 728-4034 and we’ll provide you with the right coverage your business needs. Request a free, no-obligation quote today and protect your business and your workers today. You’ll be glad you did.
More About Workers Compensation Insurance
Comprehending Workers’ Compensation Insurance and More
A lot of mid-sized businesses in Arcadia will generally have at least a staff member or 2. Hence, as a business owner, having some knowledge on how workers’ compensation insurance works will go a long way in saving you a grand headache and financial damages in case something takes place to any of your staff members.
Workers’ compensation insurance coverage in Arcadia CA is an insurance policy that provides wage replacement and medical expenses to your staff members in case they are injured. This policy is in exchange for necessary forfeiture of their right to sue the company for compensation.
Why This Policy Is Handy
This policy serves to safeguard the company from punitive claims by their employees. In some cases, the suits can cause financial damages resulting in the business to become insolvent when the damages awarded are too expensive for the employer to manage. Hence, this system of cumulative liability was adopted to resolve the problem.
The compensation plans in Arcadia differ amongst jurisdictions. However, in general terms, a form of disability insurance in the form of replacement of wages can be adopted. There will also be compensation for the economic loss for the hurt staff member, payment or compensation of medical costs along with benefits granted to the staff members’ dependents in case of death.
As a business owner, you should understand why such an insurance plan is handy. Apart from saving you from claims that can damage your credibility, it also prevents you from closing down due to high damages granted to the injured worker.
The Policy Is Not Standardized
The workers’ compensation insurance plans are managed by the individual states and territories the business is located. Therefore, there isn’t really a single rule that is followed when granting damages. Hence, when your company expands to other states, it would be prudent to learn from your lawyer how the law works in that location, and therefore you can adjust the policy accordingly.
Normally, damages sought for pain and suffering due to the negligence of the company as well as punitive damages for the employer are not covered by the workers’ compensation plan. Hence, it would be prudent for the employer to make sure that none of their policies or operations directly put the workers at risk of injury just because such an insurance plan remains in place.
Not All Businesses Apply
Not all companies need to have workers’ compensation insurance in place. For example, small companies (specifically sole proprietorships and partnerships) won’t need the insurance coverage unless they have staff members who aren’t also owners. Often, the state laws will permit the owners to get the compensation plan for themselves (as their own employees) if they wish.
Some states also do not require the business to have compensation insurance plan in place if the employees are solely paid on commission. Depending upon the state, the law might deal with uninsured specialists as staff members in case they are hurt while working for you.
Getting the Plan
As a rule, if you have employees who aren’t owners, then it is a requirement to have such compensation insurance plans in place. The majority of employers take measures to guarantee that their work environment is safe, but accidents do happen, and incomes are lost as a result. Therefore, getting workers’ compensation insurance will protect both you and your staff members in case of an accident.