As an independent contractor in Sheridan, 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 Sheridan 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 Sheridan CA 95681 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
Many mid-sized businesses in Sheridan will usually have at least a staff member or more. Hence, 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 occurs to any of your workers.
Workers’ compensation insurance coverage in Sheridan CA is an insurance policy that provides wage replacement and medical expenditures to your staff members in case they are hurt. This policy is in exchange for mandatory relinquishment of their right to sue the employer for compensation.
Why This Policy Is Helpful
This policy serves to protect the company from punitive suits by their staff members. Sometimes, the suits can cause financial damages leading to 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 solve the issue.
The compensation plans in Sheridan vary among jurisdictions. Nevertheless, in general terms, a kind of disability insurance in the form of replacement of incomes can be adopted. There will also be compensation for the financial loss for the hurt staff member, payment or reimbursement of medical expenses in addition to benefits granted to the staff members’ dependents in case of death.
As a company owner, you should comprehend why such an insurance coverage comes in handy. Apart from saving you from lawsuits that can damage your track record, it also prevents you from closing down due to high damages granted to the injured staff member.
The Policy Is Not Standardized
The workers’ compensation insurance coverage are managed by the individual states and territories the business is located. Hence, there isn’t really a single rule that is followed when granting damages. Therefore, when your company expands to other states, it would be prudent to find out from your lawyer how the law works in that location, and therefore you can adjust the policy appropriately.
Typically, damages sought for pain and suffering due to the neglect of the employer as well as 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 even if such an insurance plan remains in place.
Not All Businesses Apply
Not all companies have to have workers’ compensation insurance in place. For example, small businesses (specifically sole proprietorships and collaborations) won’t need the insurance coverage unless they have staff members who aren’t also owners. In some cases, the state laws will allow the owners to get the compensation plan for themselves (as their own workers) if they wish.
Some states also do not need the business to have compensation insurance plan in place if the workers are entirely paid on commission. Depending upon the state, the law may deal with uninsured specialists as employees 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 employers take measures to guarantee that their workplace is safe, but accidents do take place, and livelihoods are lost as a result. Hence, getting workers’ compensation insurance will safeguard both you and your staff members in case of an accident.