As an independent contractor in Los Gatos, 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 Los Gatos 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 Los Gatos CA 95030 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 Los Gatos will generally have at least an employee or 2. 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 takes place to any of your workers.
Workers’ compensation insurance coverage in Los Gatos CA is an insurance policy that offers wage replacement and medical costs to your workers in case they are hurt. This policy is in exchange for compulsory forfeiture of their right to take legal action against the company for compensation.
Why This Policy Is Helpful
This policy serves to protect the company from punitive claims by their employees. In some cases, the lawsuits can cause financial damages resulting in the business to become insolvent when the damages granted are too high for the company to pay for. Therefore, this system of cumulative liability was adopted to fix the issue.
The compensation plans in Los Gatos vary among jurisdictions. However, in general terms, a kind of disability insurance through replacement of wages can be adopted. There will also be compensation for the economic loss for the hurt worker, payment or repayment of medical costs as well as benefits granted to the staff members’ 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 lawsuits that can damage your track record, it also prevents you from shutting down due to high damages granted to the hurt employee.
The Policy Is Not Standardized
The workers’ compensation insurance policies are managed by the individual states and territories the business is located. Hence, there isn’t a single guideline that is followed when granting 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 appropriately.
Usually, damages sought for pain and suffering due to the negligence of the company in addition to punitive damages for the employer 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 even if such an insurance plan remains in place.
Not All Businesses Apply
Not all companies have 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 staff members who aren’t also owners. Sometimes, the state laws will permit the owners to get the compensation plan for themselves (as their own workers) if they wish.
Some states also do not require the business to have compensation insurance plan in place if the workers are entirely paid on commission. Depending on the state, the law might treat uninsured professionals as workers in case they are hurt 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. Most companies take measures to guarantee that their workplace is safe, but accidents do take place, and incomes are lost as a result. Therefore, getting workers’ compensation insurance will protect both you and your workers in the event of a mishap.