As an independent contractor in Laguna Beach, 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 Laguna Beach 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 Laguna Beach CA 92651 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 Laguna Beach will generally have at least a staff member or more. Thus, as an entrepreneur, 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 Laguna Beach CA is an insurance policy that supplies wage replacement and medical costs to your workers in case they are injured. This policy is in exchange for necessary relinquishment of their right to take legal action against the employer for compensation.
Why This Policy Is Useful
This policy serves to safeguard the company from punitive claims by their staff members. In some cases, the lawsuits can cause monetary damages causing the business to become insolvent when the damages awarded are too high for the company to afford. Hence, this system of cumulative liability was adopted to fix the problem.
The compensation plans in Laguna Beach vary amongst 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 injured employee, payment or repayment of medical costs along with benefits granted to the employees’ dependents in case of death.
As a company owner, you should understand why such an insurance coverage is handy. Apart from saving you from suits 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 plans are managed by the individual states and areas business is located. Therefore, there isn’t really a single rule that is followed when awarding damages. Thus, when your company expands to other states, it would be prudent to discover 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 company along with compensatory damages for the employer 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 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 companies (especially sole proprietorships and partnerships) won’t require the insurance coverage unless they have employees who aren’t also owners. Often, the state laws will permit the owners to get the compensation plan for themselves (as their own staff members) 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 treat uninsured specialists as workers 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. The majority of employers take measures to make sure that their work environment is safe, but mishaps do happen, and livelihoods are lost as a result. Thus, getting workers’ compensation insurance will safeguard both you and your staff members in case of a mishap.