As an independent contractor in Rancho Santa Margarita, 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 Rancho Santa Margarita 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 Rancho Santa Margarita CA 92688 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
The majority of mid-sized businesses in Rancho Santa Margarita will generally have at least a worker or two. Thus, as a business 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 employees.
Workers’ compensation insurance coverage in Rancho Santa Margarita CA is an insurance policy that provides wage replacement and medical expenses to your employees in case they are injured. This policy is in exchange for necessary relinquishment of their right to sue the company for compensation.
Why This Policy Is Valuable
This policy serves to safeguard the employer from punitive lawsuits by their staff members. Often, the lawsuits can cause monetary damages resulting in the business to become insolvent when the damages granted are too high for the company to manage. Thus, this system of collective liability was adopted to fix the problem.
The compensation strategies in Rancho Santa Margarita vary amongst jurisdictions. Nevertheless, in general terms, a kind of disability insurance through replacement of earnings can be adopted. There will also be compensation for the economic loss for the hurt worker, payment or compensation of medical expenses in addition to benefits awarded to the staff members’ dependents in case of death.
As an entrepreneur, you should comprehend why such an insurance coverage 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 injured staff member.
The Policy Is Not Standardized
The workers’ compensation insurance policies are controlled by the individual states and areas the business is located. Therefore, there isn’t really a single guideline that is followed when awarding damages. Thus, when your company expands to other states, it would be prudent to find out from your lawyer how the law operates in that location, and therefore you can adjust the policy appropriately.
Usually, damages sought for pain and suffering due to the negligence of the employer in addition to 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 employees 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 example, small businesses (particularly sole proprietorships and collaborations) won’t require 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 want.
Some states also don’t need the business to have compensation insurance plan in place if the staff members are entirely paid on commission. Depending on the state, the law might treat uninsured professionals as workers in case they are injured 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. The majority of companies take measures to make sure that their workplace is safe, but mishaps do happen, and livelihoods are lost as a result. Hence, getting workers’ compensation insurance will safeguard both you and your employees in case of an accident.