As an independent contractor in San Luis Obispo County, 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 Experts Near Me In San Luis Obispo County 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 San Luis Obispo County CA 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
Many mid-sized businesses in San Luis Obispo County will typically 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 happens to any of your employees.
Workers’ compensation insurance coverage in San Luis Obispo County CA is an insurance policy that provides wage replacement and medical costs to your employees in case they are hurt. This policy is in exchange for compulsory forfeiture of their right to sue the company for compensation.
Why This Policy Is Practical
This policy serves to safeguard the company from punitive lawsuits by their staff members. Often, the lawsuits can cause financial damages leading to the business to become insolvent when the damages awarded are too high for the company to pay for. Thus, this system of collective liability was adopted to fix the concern.
The compensation strategies in San Luis Obispo County differ amongst jurisdictions. Nevertheless, in general terms, a type of disability insurance through replacement of salaries can be adopted. There will also be compensation for the financial loss for the injured employee, payment or compensation of medical expenditures in addition to benefits awarded to the workers’ dependents in case of death.
As an entrepreneur, you should understand why such an insurance coverage comes in 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 staff member.
The Policy Is Not Standardized
The workers’ compensation insurance policies are regulated by the individual states and territories the business is located. Thus, there isn’t really a single guideline that is followed when awarding damages. Hence, when your company expands to other states, it would be prudent to find out from your lawyer how the law works in that area, and therefore you can adjust the policy accordingly.
Usually, damages sought for pain and suffering due to the neglect of the employer in addition to compensatory damages for the employer 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 staff members 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 instance, small companies (specifically sole proprietorships and collaborations) will not require the insurance coverage unless they have staff members who aren’t also owners. Often, the state laws will enable the owners to get the compensation plan for themselves (as their own workers) if they want.
Some states also do not need the business to have compensation insurance plan in place if the workers are exclusively 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 employers take measures to guarantee that their workplace is safe, but accidents do take place, and incomes are lost as a result. Hence, getting workers’ compensation insurance will protect both you and your staff members in case of a mishap.
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