As an independent contractor in Cayucos, 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 Company Near Me In Cayucos 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 Cayucos CA 93430 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.
Comprehending Workers’ Compensation Insurance and More
Most mid-sized businesses in Cayucos will typically have at least an employee 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 happens to any of your staff members.
Workers’ compensation insurance coverage in Cayucos 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 obligatory relinquishment of their right to take legal action against the employer for compensation.
Why This Policy Is Useful
This policy serves to safeguard the employer from punitive lawsuits by their staff members. Sometimes, the lawsuits can cause monetary damages resulting in the business to become insolvent when the damages granted are too high for the employer to pay for. Therefore, this system of cumulative liability was adopted to resolve the concern.
The compensation strategies in Cayucos differ amongst jurisdictions. Nevertheless, in general terms, a kind of disability insurance in the form of replacement of earnings can be adopted. There will also be compensation for the financial loss for the injured staff member, payment or compensation of medical expenses in addition to benefits awarded to the employees’ dependents in case of death.
As a company owner, you should understand why such an insurance policy is handy. Apart from saving you from lawsuits that can damage your track record, it also prevents you from shutting down due to high damages granted to the hurt staff member.
The Policy Is Not Standardized
The workers’ compensation insurance coverage are controlled by the individual states and territories business is located. Thus, there isn’t a single rule that is followed when awarding damages. Hence, when your company expands to other states, it would be prudent to find out from your attorney how the law works in that area, and therefore you can adjust the policy accordingly.
Generally, damages sought for pain and suffering due to the negligence of the company as well as compensatory 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 employees at risk of injury even if such an insurance plan is in place.
Not All Businesses Apply
Not all companies need to have workers’ compensation insurance in place. For example, small companies (particularly sole proprietorships and partnerships) will not need the insurance coverage unless they have staff members who aren’t also owners. Sometimes, the state laws will permit the owners to get the compensation plan for themselves (as their own employees) if they want.
Some states also don’t require the business to have compensation insurance plan in place if the workers are solely paid on commission. Depending on the state, the law may treat uninsured professionals as workers 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. The majority of companies take measures to make sure that their workplace is safe, but mishaps do occur, and livelihoods are lost as a result. Hence, getting workers’ compensation insurance will safeguard both you and your staff members in case of an accident.