As an independent contractor in Ferndale, 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 Ferndale 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 Ferndale CA 95536 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
A lot of mid-sized businesses in Ferndale will usually have at least a staff member or 2. Thus, 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 Ferndale CA is an insurance policy that supplies wage replacement and medical costs to your staff members in case they are injured. This policy is in exchange for necessary forfeiture of their right to take legal action against the employer for compensation.
Why This Policy Is Valuable
This policy serves to protect the employer from punitive lawsuits by their employees. In some cases, the lawsuits can cause financial damages causing the business to become insolvent when the damages granted are too high for the employer to manage. Hence, this system of collective liability was adopted to solve the problem.
The compensation strategies in Ferndale differ amongst jurisdictions. Nevertheless, in general terms, a form of disability insurance in the form of replacement of salaries can be adopted. There will also be compensation for the economic loss for the hurt worker, payment or compensation of medical costs in addition to benefits granted to the employees’ dependents in case of death.
As a business owner, you should comprehend why such an insurance policy comes in handy. Apart from saving you from suits that can damage your track record, it also prevents you from closing down due to high damages granted to the injured staff member.
The Policy Is Not Standardized
The workers’ compensation insurance plans are managed by the individual states and areas the business is located. Thus, there isn’t really a single rule that is followed when granting damages. Thus, when your company expands to other states, it would be prudent to find out from your attorney how the law works in that location, and therefore you can change the policy accordingly.
Generally, damages sought for pain and suffering due to the carelessness of the employer along with punitive damages for the company 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 workers at risk of injury just because 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 collaborations) will not require the insurance coverage unless they have staff members who aren’t also owners. Sometimes, the state laws will enable the owners to get the compensation plan for themselves (as their own staff members) if they wish.
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 deal with uninsured professionals as employees 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. Many companies take measures to ensure that their workplace is safe, but accidents do take place, and incomes are lost as a result. Therefore, getting workers’ compensation insurance will safeguard both you and your workers in case of a mishap.