As an independent contractor in Arroyo Grande, 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 Experts Near Me In Arroyo Grande 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 Arroyo Grande CA 93420 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.
Understanding Workers’ Compensation Insurance and More
The majority of mid-sized businesses in Arroyo Grande will generally have at least a staff member or 2. Thus, as an entrepreneur, 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 Arroyo Grande CA is an insurance policy that provides wage replacement and medical costs to your employees in case they are injured. This policy is in exchange for compulsory forfeiture of their right to sue the company for compensation.
Why This Policy Is Helpful
This policy serves to protect the employer from punitive claims by their staff members. 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 afford. Thus, this system of collective liability was adopted to fix the concern.
The compensation strategies in Arroyo Grande differ amongst jurisdictions. Nevertheless, in general terms, a type of disability insurance in the form of replacement of earnings can be adopted. There will also be compensation for the economic loss for the hurt staff member, payment or compensation of medical expenditures in addition to benefits granted to the staff members’ dependents in case of death.
As a business owner, you should understand why such an insurance plan comes in handy. Apart from saving you from suits that can damage your track record, it also prevents you from closing down due to high damages granted to the injured staff member.
The Policy Is Not Standardized
The workers’ compensation insurance plans are managed by the individual states and areas business is located. Hence, there isn’t really a single guideline that is followed when awarding damages. Thus, when your company expands to other states, it would be prudent to discover from your attorney how the law works in that location, and therefore you can adjust the policy appropriately.
Typically, damages sought for pain and suffering due to the neglect of the company as well as punitive damages for the company 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 even if such an insurance plan remains in place.
Not All Businesses Apply
Not all companies need to have workers’ compensation insurance in place. For instance, small businesses (particularly sole proprietorships and collaborations) will not require the insurance coverage unless they have employees who aren’t also owners. Sometimes, the state laws will enable the owners to get the compensation plan for themselves (as their own employees) if they want.
Some states also do not require the business to have compensation insurance plan in place if the employees are exclusively paid on commission. Depending on the state, the law may treat uninsured specialists as staff members in case they are injured 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. Most employers take measures to ensure that their work environment is safe, but accidents do occur, and livelihoods are lost as a result. Therefore, getting workers’ compensation insurance will safeguard both you and your employees in the event of a mishap.