As an independent contractor in Oxnard, 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 Oxnard 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 Oxnard CA 93030 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
Many mid-sized businesses in Oxnard will generally 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 Oxnard CA is an insurance policy that provides wage replacement and medical expenses to your staff members in case they are hurt. This policy is in exchange for mandatory forfeiture 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 lawsuits by their staff members. Often, the lawsuits can cause monetary damages leading to the business to become insolvent when the damages granted are too high for the company to afford. Thus, this system of collective liability was adopted to fix the problem.
The compensation strategies in Oxnard vary amongst jurisdictions. Nevertheless, in general terms, a form of disability insurance in the form of replacement of salaries can be adopted. There will also be compensation for the financial loss for the hurt worker, payment or reimbursement of medical costs as well as benefits awarded to the employees’ dependents in case of death.
As an entrepreneur, you should comprehend why such an insurance policy comes in handy. Apart from saving you from claims 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 policies are managed by the individual states and territories business is located. Therefore, there isn’t 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 change the policy appropriately.
Usually, damages sought for pain and suffering due to the negligence of the company as well as compensatory damages for the employer are not covered by the workers’ compensation plan. Thus, 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 just because such an insurance plan remains in place.
Not All Businesses Apply
Not all companies need to have workers’ compensation insurance in place. For instance, small companies (particularly sole proprietorships and partnerships) will not require 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 do not need the business to have compensation insurance plan in place if the employees are entirely paid on commission. Depending upon the state, the law might deal with uninsured professionals as employees in case they are hurt 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. The majority of employers take measures to guarantee that their work environment is safe, but accidents do occur, and livelihoods are lost as a result. Therefore, getting workers’ compensation insurance will protect both you and your workers in case of an accident.