As an independent contractor in Playa Vista, 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 Playa Vista 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 Playa Vista CA 90094 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 Playa Vista will normally have at least a staff member or more. Thus, 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 takes place to any of your staff members.
Workers’ compensation insurance coverage in Playa Vista CA is an insurance policy that provides wage replacement and medical expenditures to your employees in case they are injured. This policy is in exchange for mandatory forfeiture of their right to take legal action against the employer for compensation.
Why This Policy Is Practical
This policy serves to safeguard the employer from punitive lawsuits by their staff members. Sometimes, the lawsuits can cause monetary damages resulting in the business to become insolvent when the damages awarded are too high for the company to pay for. Therefore, this system of cumulative liability was adopted to solve the concern.
The compensation strategies in Playa Vista vary among jurisdictions. However, in general terms, a kind 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 employee, payment or reimbursement of medical costs along with benefits awarded to the staff members’ dependents in case of death.
As a business 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 granted 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. Therefore, there isn’t a single rule that is followed when awarding 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 adjust the policy accordingly.
Normally, damages sought for pain and suffering due to the neglect of the employer along with punitive 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 is in place.
Not All Businesses Apply
Not all companies need to have workers’ compensation insurance in place. For example, small companies (particularly sole proprietorships and collaborations) will not need the insurance coverage unless they have employees who aren’t also owners. In some cases, the state laws will permit 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 workers are solely paid on commission. Depending upon the state, the law may treat uninsured contractors as staff members in case they are hurt while working for you.
Getting the Plan
As a rule, if you have staff members who aren’t owners, then it is a requirement to have such compensation insurance plans in place. Most companies take measures to ensure that their workplace is safe, but accidents do happen, and livelihoods are lost as a result. Hence, getting workers’ compensation insurance will protect both you and your staff members in the event of an accident.