As an independent contractor in Fair Oaks, 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 Fair Oaks 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 Fair Oaks CA 95628 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
Most mid-sized businesses in Fair Oaks will generally have at least a staff member or two. Hence, 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 employees.
Workers’ compensation insurance coverage in Fair Oaks CA is an insurance policy that provides wage replacement and medical expenditures to your workers in case they are injured. This policy is in exchange for obligatory forfeiture of their right to take legal action against the company for compensation.
Why This Policy Is Useful
This policy serves to safeguard the company from punitive lawsuits by their workers. Often, the claims can cause monetary damages causing the business to become insolvent when the damages awarded are too high for the employer to pay for. Thus, this system of cumulative liability was adopted to solve the problem.
The compensation strategies in Fair Oaks differ among jurisdictions. However, in general terms, a form of disability insurance through replacement of earnings can be adopted. There will also be compensation for the economic loss for the injured worker, payment or compensation of medical costs along with benefits awarded to the workers’ dependents in case of death.
As a business owner, you should understand why such an insurance plan is handy. Apart from saving you from lawsuits that can damage your credibility, it also prevents you from closing down due to high damages awarded to the injured employee.
The Policy Is Not Standardized
The workers’ compensation insurance plans are controlled by the individual states and areas the business is located. Thus, there isn’t really a single guideline that is followed when awarding damages. Therefore, when your company expands to other states, it would be prudent to find out from your lawyer how the law works in that location, and therefore you can adjust the policy accordingly.
Generally, damages sought for pain and suffering due to the neglect of the employer in addition to punitive damages for the company are not covered by the workers’ compensation plan. Thus, it would be prudent for the employer to make sure that none of their policies or operations directly put the staff members at risk of injury just because such an insurance plan remains in place.
Not All Businesses Apply
Not all companies have to have workers’ compensation insurance in place. For instance, small businesses (particularly sole proprietorships and collaborations) won’t need the insurance coverage unless they have workers 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 workers) if they want.
Some states also don’t need the business to have compensation insurance plan in place if the staff members are exclusively paid on commission. Depending upon the state, the law might deal with uninsured contractors 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. Most companies take measures to guarantee that their work environment is safe, but accidents do occur, and incomes are lost as a result. Therefore, getting workers’ compensation insurance will safeguard both you and your employees in the event of a mishap.