As an independent contractor in Nipomo, 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 Nipomo 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 Nipomo CA 93444 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.
Understanding Workers’ Compensation Insurance and More
The majority of mid-sized businesses in Nipomo will usually have at least a worker or 2. 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 happens to any of your workers.
Workers’ compensation insurance coverage in Nipomo CA is an insurance policy that provides wage replacement and medical expenses to your employees in case they are hurt. This policy is in exchange for obligatory relinquishment of their right to take legal action against the company for compensation.
Why This Policy Is Practical
This policy serves to protect the company from punitive claims by their workers. Sometimes, the claims can cause monetary damages resulting in the business to become insolvent when the damages awarded are too expensive for the company to pay for. Hence, this system of collective liability was adopted to fix the issue.
The compensation plans in Nipomo differ among jurisdictions. However, in general terms, a form of disability insurance through replacement of incomes can be adopted. There will also be compensation for the financial loss for the injured staff member, payment or repayment of medical expenditures along with benefits awarded to the employees’ dependents in case of death.
As an entrepreneur, you should understand 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 closing down due to high damages awarded to the injured staff member.
The Policy Is Not Standardized
The workers’ compensation insurance coverage are controlled by the individual states and areas the business is located. Therefore, 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 discover from your attorney how the law operates in that area, and therefore you can adjust the policy accordingly.
Usually, damages sought for pain and suffering due to the carelessness of the company along with punitive 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 workers at risk of injury even if such an insurance plan is in place.
Not All Businesses Apply
Not all companies have to have workers’ compensation insurance in place. For example, small businesses (specifically sole proprietorships and partnerships) won’t require the insurance coverage unless they have employees who aren’t also owners. Often, the state laws will enable the owners to get the compensation plan for themselves (as their own employees) if they wish.
Some states also do not need the business to have compensation insurance plan in place if the staff members are solely paid on commission. Depending on the state, the law may treat uninsured contractors 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. Most companies take measures to guarantee that their workplace is safe, but mishaps do happen, and livelihoods are lost as a result. Thus, getting workers’ compensation insurance will protect both you and your workers in case of an accident.