As an independent contractor in Lost Hills, 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 Company Near Me In Lost Hills 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 Lost Hills CA 93249 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
The majority of mid-sized businesses in Lost Hills will normally have at least a staff member or more. Hence, 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 staff members.
Workers’ compensation insurance coverage in Lost Hills CA is an insurance policy that provides wage replacement and medical expenses to your workers in case they are injured. This policy is in exchange for mandatory relinquishment of their right to sue the company for compensation.
Why This Policy Is Handy
This policy serves to safeguard the employer from punitive claims by their employees. In some cases, the claims can cause financial damages resulting in the business to become insolvent when the damages granted are too high for the employer to afford. Thus, this system of collective liability was adopted to solve the problem.
The compensation plans in Lost Hills vary amongst jurisdictions. However, in general terms, a type of disability insurance through replacement of earnings can be adopted. There will also be compensation for the financial loss for the hurt staff member, payment or reimbursement of medical expenditures in addition to 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 claims that can damage your credibility, it also prevents you from shutting down due to high damages awarded to the hurt employee.
The Policy Is Not Standardized
The workers’ compensation insurance coverage are managed by the individual states and territories the business is located. Thus, there isn’t really a single rule that is followed when awarding damages. Hence, when your company expands to other states, it would be prudent to learn from your lawyer how the law works in that area, and therefore you can adjust the policy accordingly.
Typically, damages sought for pain and suffering due to the negligence of the company as well as 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 staff members 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 collaborations) won’t need 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 workers) if they wish.
Some states also don’t need the business to have compensation insurance plan in place if the workers are solely paid on commission. Depending on the state, the law might deal with uninsured professionals as staff members 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. A lot of companies take measures to make sure that their work environment is safe, but mishaps do take place, and livelihoods are lost as a result. Therefore, getting workers’ compensation insurance will protect both you and your staff members in case of an accident.