As an independent contractor in Monterey, 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 Monterey 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 Monterey CA 93940 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 Monterey will usually have at least an employee or two. Thus, 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 occurs to any of your workers.
Workers’ compensation insurance coverage in Monterey CA is an insurance policy that offers wage replacement and medical expenditures to your employees in case they are hurt. This policy is in exchange for necessary relinquishment of their right to sue the employer for compensation.
Why This Policy Is Practical
This policy serves to safeguard the company from punitive lawsuits by their staff members. In some cases, the claims can cause financial damages causing the business to become insolvent when the damages granted are too high for the company to pay for. Thus, this system of cumulative liability was adopted to solve the concern.
The compensation plans in Monterey differ among jurisdictions. However, in general terms, a form of disability insurance through replacement of wages can be adopted. There will also be compensation for the economic loss for the injured staff member, payment or reimbursement 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 suits that can damage your track record, it also prevents you from shutting down due to high damages awarded to the hurt staff member.
The Policy Is Not Standardized
The workers’ compensation insurance plans are regulated by the individual states and areas the business is located. Hence, there isn’t a single rule that is followed when granting damages. Thus, when your company expands to other states, it would be prudent to learn from your attorney how the law operates in that area, and therefore you can adjust the policy appropriately.
Usually, damages sought for pain and suffering due to the neglect of the employer as well as compensatory damages for the company are not covered by the workers’ compensation plan. Hence, 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 just because such an insurance plan is in place.
Not All Businesses Apply
Not all companies need to have workers’ compensation insurance in place. For instance, small businesses (especially sole proprietorships and collaborations) will not need the insurance coverage unless they have workers who aren’t also owners. Often, 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 require the business to have compensation insurance plan in place if the staff members are entirely paid on commission. Depending on the state, the law might deal with uninsured specialists as employees 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. The majority of employers take measures to ensure that their work environment is safe, but accidents do take place, and incomes are lost as a result. Hence, getting workers’ compensation insurance will safeguard both you and your workers in case of an accident.