As an independent contractor in Shaver Lake, 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 Shaver Lake 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 Shaver Lake CA 93664 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
A lot of mid-sized businesses in Shaver Lake will usually have at least an employee or 2. 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 Shaver Lake CA is an insurance policy that offers wage replacement and medical expenses to your employees in case they are injured. This policy is in exchange for obligatory relinquishment of their right to sue the company for compensation.
Why This Policy Is Useful
This policy serves to safeguard the employer from punitive lawsuits by their staff members. Often, the claims can cause financial damages causing the business to become insolvent when the damages granted are too expensive for the employer to manage. Therefore, this system of collective liability was adopted to resolve the problem.
The compensation plans in Shaver Lake differ amongst 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 repayment of medical costs along with benefits granted to the employees’ dependents in case of death.
As a company owner, you should understand why such an insurance policy is handy. Apart from saving you from lawsuits that can damage your reputation, it also prevents you from closing down due to high damages granted to the injured employee.
The Policy Is Not Standardized
The workers’ compensation insurance plans are regulated by the individual states and areas the business is located. Thus, there isn’t a single guideline that is followed when granting damages. Thus, 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 company along with compensatory damages for the company are not covered by the workers’ compensation plan. Hence, it would be prudent for the company 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 example, small businesses (especially sole proprietorships and partnerships) won’t require the insurance coverage unless they have staff members who aren’t also owners. Sometimes, the state laws will allow 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 deal with uninsured professionals as employees in case they are hurt 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. Many companies take measures to ensure that their work environment is safe, but mishaps do happen, and incomes are lost as a result. Therefore, getting workers’ compensation insurance will safeguard both you and your workers in case of an accident.