As an independent contractor in Diamond Springs, 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 Diamond Springs 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 Diamond Springs CA 95619 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
Many mid-sized businesses in Diamond Springs will normally have at least a staff member or more. Therefore, as a company 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 happens to any of your staff members.
Workers’ compensation insurance coverage in Diamond Springs CA is an insurance policy that supplies wage replacement and medical expenses to your workers in case they are injured. This policy is in exchange for necessary relinquishment of their right to sue the employer for compensation.
Why This Policy Is Useful
This policy serves to protect the company from punitive lawsuits by their employees. Sometimes, the claims can cause financial damages resulting in the business to become insolvent when the damages granted are too high for the employer to manage. Thus, this system of cumulative liability was adopted to solve the problem.
The compensation plans in Diamond Springs 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 worker, payment or reimbursement of medical expenses in addition to benefits awarded 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 claims that can damage your track record, it also prevents you from closing down due to high damages awarded to the injured worker.
The Policy Is Not Standardized
The workers’ compensation insurance plans are managed by the individual states and areas the business is located. Hence, there isn’t really a single rule that is followed when awarding damages. Therefore, when your company expands to other states, it would be prudent to find out from your attorney how the law operates in that location, and therefore you can adjust the policy accordingly.
Normally, damages sought for pain and suffering due to the neglect of the employer in addition to punitive damages for the employer are not covered by the workers’ compensation plan. Therefore, it would be prudent for the company to make sure that none of their policies or operations directly put the staff members at risk of injury even if such an insurance plan remains in place.
Not All Businesses Apply
Not all companies have to have workers’ compensation insurance in place. For example, small companies (specifically sole proprietorships and collaborations) will not need the insurance coverage unless they have staff members who aren’t also owners. Often, the state laws will enable the owners to get the compensation plan for themselves (as their own staff members) if they want.
Some states also do not require the business to have compensation insurance plan in place if the staff members are entirely paid on commission. Depending upon the state, the law might treat uninsured professionals as staff members in case they are hurt while working for you.
Getting the Plan
As a rule, if you have staff members who aren’t owners, then it is a requirement to have such compensation insurance plans in place. Many employers take measures to make sure that their work environment is safe, but accidents do happen, and incomes are lost as a result. Hence, getting workers’ compensation insurance will safeguard both you and your employees in case of a mishap.