As an independent contractor in Parker Dam, 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 Company Near Me In Parker Dam 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 Parker Dam CA 92267 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 Parker Dam will typically have at least an employee or two. 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 occurs to any of your staff members.
Workers’ compensation insurance coverage in Parker Dam CA is an insurance policy that provides wage replacement and medical expenditures to your employees in case they are hurt. This policy is in exchange for necessary forfeiture of their right to sue the company for compensation.
Why This Policy Is Helpful
This policy serves to protect the employer from punitive lawsuits by their employees. Sometimes, the claims can cause financial 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 problem.
The compensation plans in Parker Dam vary amongst jurisdictions. However, in general terms, a kind of disability insurance through replacement of incomes can be adopted. There will also be compensation for the economic loss for the hurt worker, payment or compensation of medical costs in addition to benefits awarded to the workers’ dependents in case of death.
As a company owner, you should comprehend why such an insurance policy is handy. Apart from saving you from claims that can damage your reputation, 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 policies are managed by the individual states and territories business is located. Thus, there isn’t really a single guideline that is followed when granting 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 accordingly.
Generally, damages sought for pain and suffering due to the neglect of the employer as well as punitive 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 workers at risk of injury even if such an insurance plan remains in place.
Not All Businesses Apply
Not all companies need to have workers’ compensation insurance in place. For example, small businesses (specifically sole proprietorships and collaborations) will not need the insurance coverage unless they have workers who aren’t also owners. Sometimes, the state laws will enable the owners to get the compensation plan for themselves (as their own staff members) 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 staff members 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. A lot of companies take measures to guarantee that their work environment is safe, but mishaps do take place, and livelihoods are lost as a result. Hence, getting workers’ compensation insurance will safeguard both you and your employees in the event of a mishap.