As an independent contractor in Beverly Hills, 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 Beverly Hills 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 Beverly Hills CA 90209 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
Understanding Workers’ Compensation Insurance and More
The majority of mid-sized businesses in Beverly Hills will typically have at least a staff member or more. Hence, 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 occurs to any of your staff members.
Workers’ compensation insurance coverage in Beverly Hills CA is an insurance policy that offers wage replacement and medical expenses to your staff members in case they are injured. This policy is in exchange for obligatory forfeiture of their right to sue the employer for compensation.
Why This Policy Is Helpful
This policy serves to safeguard the company from punitive suits by their workers. Sometimes, the suits can cause monetary damages leading to the business to become insolvent when the damages awarded are too high for the company to afford. Hence, this system of collective liability was adopted to fix the concern.
The compensation plans in Beverly Hills differ amongst jurisdictions. However, in general terms, a type of disability insurance through replacement of incomes can be adopted. There will also be compensation for the economic loss for the injured employee, payment or repayment of medical expenditures along with benefits granted to the employees’ dependents in case of death.
As a company owner, you should comprehend why such an insurance policy is handy. Apart from saving you from claims that can damage your reputation, it also prevents you from shutting down due to high damages awarded to the hurt staff member.
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 guideline that is followed when awarding damages. Thus, when your company expands to other states, it would be prudent to find out from your attorney how the law operates in that area, 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 employer are not covered by the workers’ compensation plan. Therefore, it would be prudent for the employer to make sure that none of their policies or operations directly put the employees 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 instance, small businesses (especially sole proprietorships and collaborations) will not require the insurance coverage unless they have employees who aren’t also owners. Often, the state laws will enable the owners to get the compensation plan for themselves (as their own workers) if they wish.
Some states also do not require the business to have compensation insurance plan in place if the staff members are exclusively paid on commission. Depending on the state, the law may deal with uninsured professionals as employees in case they are injured while working for you.
Getting the Plan
As a rule, if you have workers who aren’t owners, then it is a requirement to have such compensation insurance plans in place. A lot of employers take measures to make sure that their work environment is safe, but accidents do happen, and livelihoods are lost as a result. Thus, getting workers’ compensation insurance will protect both you and your staff members in the event of an accident.