As an independent contractor in Olympic Valley, 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 Specialists Near Me In Olympic Valley 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 Olympic Valley CA 96146 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
Understanding Workers’ Compensation Insurance and More
Most mid-sized businesses in Olympic Valley will typically have at least a staff member or 2. Therefore, 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 occurs to any of your employees.
Workers’ compensation insurance coverage in Olympic Valley CA is an insurance policy that supplies wage replacement and medical expenditures to your staff members in case they are hurt. This policy is in exchange for necessary relinquishment 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. In some cases, the lawsuits can cause financial damages leading to the business to become insolvent when the damages granted are too high for the employer to manage. Hence, this system of cumulative liability was adopted to fix the concern.
The compensation strategies in Olympic Valley vary amongst jurisdictions. Nevertheless, in general terms, a kind of disability insurance through replacement of earnings can be adopted. There will also be compensation for the financial loss for the injured staff member, payment or reimbursement of medical expenditures along with benefits awarded to the employees’ dependents in case of death.
As a company owner, you should comprehend why such an insurance coverage is handy. Apart from saving you from lawsuits that can damage your reputation, it also prevents you from shutting down due to high damages awarded to the injured employee.
The Policy Is Not Standardized
The workers’ compensation insurance plans are managed by the individual states and areas business is located. Therefore, there isn’t really a single rule that is followed when awarding damages. Therefore, when your company expands to other states, it would be prudent to find out from your lawyer how the law operates in that area, and therefore you can change the policy appropriately.
Normally, damages sought for pain and suffering due to the neglect of the employer in addition to compensatory 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 just because 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 (especially sole proprietorships and collaborations) will not require the insurance coverage unless they have staff members 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 want.
Some states also don’t require the business to have compensation insurance plan in place if the staff members are exclusively paid on commission. Depending upon the state, the law might treat 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. Many 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 protect both you and your employees in the event of an accident.