As an independent contractor in Nevada City, 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 Agency Near Me In Nevada City 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 Nevada City CA 95959 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 Nevada City will generally have at least an employee or more. 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 Nevada City CA is an insurance policy that supplies wage replacement and medical expenditures to your workers in case they are injured. This policy is in exchange for obligatory forfeiture of their right to take legal action against the company for compensation.
Why This Policy Is Valuable
This policy serves to protect the company from punitive claims by their employees. Often, the suits can cause monetary damages causing the business to become insolvent when the damages granted are too expensive for the company to pay for. Thus, this system of cumulative liability was adopted to fix the problem.
The compensation strategies in Nevada City vary among jurisdictions. Nevertheless, in general terms, a kind of disability insurance through replacement of wages can be adopted. There will also be compensation for the financial loss for the hurt employee, payment or repayment of medical expenses along with benefits awarded to the employees’ dependents in case of death.
As a company owner, you should comprehend why such an insurance coverage comes in handy. Apart from saving you from lawsuits that can damage your credibility, it also prevents you from closing down due to high damages awarded to the injured employee.
The Policy Is Not Standardized
The workers’ compensation insurance plans are regulated by the individual states and territories the business is located. Therefore, there isn’t really a single guideline that is followed when awarding damages. Hence, when your company expands to other states, it would be prudent to learn from your attorney how the law works in that area, and therefore you can change the policy appropriately.
Normally, damages sought for pain and suffering due to the neglect of the company in addition to compensatory damages for the employer are not covered by the workers’ compensation plan. Therefore, 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 is in place.
Not All Businesses Apply
Not all companies need to have workers’ compensation insurance in place. For example, small companies (particularly sole proprietorships and collaborations) will not need the insurance coverage unless they have employees who aren’t also owners. In some cases, the state laws will allow the owners to get the compensation plan for themselves (as their own staff members) if they want.
Some states also don’t require the business to have compensation insurance plan in place if the employees are entirely 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 companies take measures to make sure that their workplace is safe, but mishaps do happen, and incomes are lost as a result. Hence, getting workers’ compensation insurance will safeguard both you and your employees in the event of an accident.