As an independent contractor in Gilroy, 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 Agency Near Me In Gilroy 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 Gilroy CA 95020 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
A lot of mid-sized businesses in Gilroy will usually have at least a worker 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 occurs to any of your employees.
Workers’ compensation insurance coverage in Gilroy 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 mandatory forfeiture of their right to take legal action against the company for compensation.
Why This Policy Is Handy
This policy serves to safeguard the employer from punitive lawsuits by their staff members. Sometimes, the suits can cause financial damages resulting in the business to become insolvent when the damages granted are too high for the company to manage. Therefore, this system of collective liability was adopted to solve the concern.
The compensation plans in Gilroy vary among jurisdictions. However, in general terms, a type of disability insurance in the form of replacement of wages can be adopted. There will also be compensation for the financial loss for the injured worker, payment or repayment of medical costs in addition to benefits granted to the workers’ dependents in case of death.
As an entrepreneur, you should understand why such an insurance coverage comes in handy. Apart from saving you from suits that can damage your track record, it also prevents you from shutting down due to high damages granted to the hurt worker.
The Policy Is Not Standardized
The workers’ compensation insurance plans are regulated by the individual states and areas business is located. Thus, there isn’t really a single guideline that is followed when awarding damages. Hence, when your company expands to other states, it would be prudent to discover from your attorney how the law operates in that area, and therefore you can change the policy appropriately.
Normally, 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. Therefore, 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 businesses (particularly sole proprietorships and partnerships) won’t require the insurance coverage unless they have workers who aren’t also owners. Sometimes, the state laws will allow the owners to get the compensation plan for themselves (as their own employees) if they want.
Some states also don’t need the business to have compensation insurance plan in place if the workers are exclusively paid on commission. Depending on the state, the law might deal with uninsured professionals as workers in case they are injured 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 companies take measures to make sure that their workplace is safe, but mishaps do happen, and incomes are lost as a result. Thus, getting workers’ compensation insurance will safeguard both you and your staff members in the event of an accident.