As an independent contractor in Downey, 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 Downey 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 Downey CA 90239 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
Most mid-sized businesses in Downey will normally have at least an employee or two. 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 employees.
Workers’ compensation insurance coverage in Downey CA is an insurance policy that supplies wage replacement and medical expenditures to your employees in case they are injured. This policy is in exchange for mandatory forfeiture of their right to sue the employer for compensation.
Why This Policy Is Handy
This policy serves to protect the company from punitive lawsuits by their employees. Sometimes, the lawsuits can cause financial damages leading to the business to become insolvent when the damages granted are too expensive for the company to manage. Hence, this system of cumulative liability was adopted to resolve the problem.
The compensation strategies in Downey differ amongst jurisdictions. Nevertheless, 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 injured staff member, payment or compensation of medical costs as well as benefits granted 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 claims that can damage your credibility, it also prevents you from closing down due to high damages awarded to the injured staff member.
The Policy Is Not Standardized
The workers’ compensation insurance coverage are managed by the individual states and territories business is located. Thus, there isn’t a single rule that is followed when granting 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 change the policy accordingly.
Usually, damages sought for pain and suffering due to the carelessness of the employer along with punitive damages for the employer are not covered by the workers’ compensation plan. Thus, 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 is 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. In some cases, the state laws will allow 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 exclusively paid on commission. Depending on the state, the law may treat uninsured contractors 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. A lot of employers take measures to ensure that their work environment is safe, but mishaps do occur, and incomes are lost as a result. Hence, getting workers’ compensation insurance will safeguard both you and your staff members in case of an accident.