As an independent contractor in Homewood, 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 Homewood 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 Homewood CA 96141 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
Many mid-sized businesses in Homewood will usually have at least an employee 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 staff members.
Workers’ compensation insurance coverage in Homewood CA is an insurance policy that offers wage replacement and medical expenditures to your staff members in case they are injured. This policy is in exchange for obligatory relinquishment of their right to sue the employer for compensation.
Why This Policy Is Practical
This policy serves to safeguard the employer from punitive claims by their employees. In some cases, the claims can cause financial damages leading to the business to become insolvent when the damages awarded are too expensive for the company to pay for. Hence, this system of cumulative liability was adopted to solve the concern.
The compensation plans in Homewood differ among jurisdictions. However, in general terms, a kind of disability insurance in the form of replacement of wages can be adopted. There will also be compensation for the economic loss for the hurt staff member, payment or repayment of medical expenses as well as benefits awarded to the workers’ dependents in case of death.
As a company owner, you should comprehend why such an insurance policy comes in handy. Apart from saving you from claims that can damage your reputation, 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 coverage are controlled by the individual states and territories business is located. Thus, there isn’t a single rule that is followed when awarding damages. Hence, when your company expands to other states, it would be prudent to discover from your lawyer how the law works in that area, and therefore you can change the policy accordingly.
Generally, damages sought for pain and suffering due to the negligence of the company along with compensatory damages for the company are not covered by the workers’ compensation plan. Hence, 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 just because such an insurance plan remains in place.
Not All Businesses Apply
Not all companies need to have workers’ compensation insurance in place. For instance, small companies (particularly sole proprietorships and partnerships) won’t require 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 employees) if they wish.
Some states also do not need the business to have compensation insurance plan in place if the employees are exclusively paid on commission. Depending upon the state, the law may deal with uninsured contractors as employees in case they are injured while working for you.
Getting the Plan
As a rule, if you have workers 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 mishaps do take place, and incomes are lost as a result. Hence, getting workers’ compensation insurance will safeguard both you and your employees in the event of a mishap.