As an independent contractor in Pismo Beach, 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 Agency Near Me In Pismo Beach 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 Pismo Beach CA 93448 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 Pismo Beach will typically have at least a worker or two. Therefore, as a company owner, 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 staff members.
Workers’ compensation insurance coverage in Pismo Beach CA is an insurance policy that supplies wage replacement and medical expenses 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 Valuable
This policy serves to safeguard the company from punitive claims by their staff members. Often, the lawsuits can cause financial damages resulting in the business to become insolvent when the damages granted are too high for the employer to pay for. Thus, this system of collective liability was adopted to fix the issue.
The compensation plans in Pismo Beach differ among jurisdictions. However, in general terms, a form of disability insurance through replacement of wages can be adopted. There will also be compensation for the economic loss for the hurt employee, payment or reimbursement of medical costs in addition to benefits granted to the employees’ 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 reputation, it also prevents you from closing down due to high damages awarded to the hurt worker.
The Policy Is Not Standardized
The workers’ compensation insurance policies are controlled by the individual states and territories business is located. Hence, there isn’t a single rule that is followed when granting damages. Therefore, 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 carelessness of the employer in addition to punitive damages for the employer are not covered by the workers’ compensation plan. Therefore, it would be prudent for the employer to make sure that none of their policies or operations directly put the staff members 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 instance, small companies (particularly sole proprietorships and collaborations) won’t need the insurance coverage unless they have employees who aren’t also owners. Sometimes, the state laws will enable the owners to get the compensation plan for themselves (as their own employees) if they wish.
Some states also don’t require the business to have compensation insurance plan in place if the employees are exclusively paid on commission. Depending on 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 workers 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 occur, and livelihoods are lost as a result. Hence, getting workers’ compensation insurance will safeguard both you and your workers in the event of a mishap.