As an independent contractor in Paynes Creek, 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 Paynes Creek 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 Paynes Creek CA 96075 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.
Comprehending Workers’ Compensation Insurance and More
Many mid-sized businesses in Paynes Creek will normally have at least a staff member or more. Thus, 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 takes place to any of your employees.
Workers’ compensation insurance coverage in Paynes Creek 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 necessary forfeiture of their right to sue the company for compensation.
Why This Policy Is Handy
This policy serves to protect the employer from punitive suits by their employees. In some cases, the lawsuits can cause financial damages causing the business to become insolvent when the damages awarded are too high for the employer to afford. Therefore, this system of cumulative liability was adopted to fix the problem.
The compensation plans in Paynes Creek vary amongst jurisdictions. However, in general terms, a form of disability insurance in the form of replacement of earnings can be adopted. There will also be compensation for the financial loss for the hurt employee, payment or reimbursement of medical expenditures as well as benefits granted to the staff members’ dependents in case of death.
As a business owner, you should comprehend why such an insurance plan is handy. Apart from saving you from lawsuits that can damage your credibility, 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 territories business is located. Hence, there isn’t a single guideline 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 works in that location, and therefore you can change the policy appropriately.
Generally, damages sought for pain and suffering due to the neglect of the employer as well as compensatory damages for the company are not covered by the workers’ compensation plan. Thus, it would be prudent for the employer 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 need to have workers’ compensation insurance in place. For instance, small companies (particularly sole proprietorships and partnerships) won’t require the insurance coverage unless they have employees who aren’t also owners. In some cases, the state laws will enable 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 employees are solely paid on commission. Depending upon the state, the law might deal with uninsured professionals as workers 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. Many companies take measures to ensure that their work environment is safe, but mishaps do occur, and livelihoods are lost as a result. Thus, getting workers’ compensation insurance will protect both you and your employees in the event of an accident.