As an independent contractor in Simi Valley, 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 Simi Valley 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 Simi Valley CA 93062 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
Many mid-sized businesses in Simi Valley will generally have at least an employee or 2. Thus, as an entrepreneur, 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 Simi Valley CA is an insurance policy that offers wage replacement and medical expenditures to your workers in case they are hurt. This policy is in exchange for obligatory relinquishment of their right to take legal action against the employer for compensation.
Why This Policy Is Useful
This policy serves to safeguard the company from punitive claims by their workers. Often, the suits can cause monetary damages resulting in the business to become insolvent when the damages awarded are too high for the company to afford. Hence, this system of collective liability was adopted to solve the concern.
The compensation plans in Simi Valley vary among jurisdictions. However, 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 hurt employee, payment or repayment of medical costs along with benefits awarded to the staff members’ dependents in case of death.
As a company owner, you should understand why such an insurance policy is handy. Apart from saving you from suits that can damage your reputation, it also prevents you from shutting down due to high damages awarded to the injured employee.
The Policy Is Not Standardized
The workers’ compensation insurance coverage are regulated by the individual states and areas the business is located. Hence, 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 attorney how the law works in that area, and therefore you can change the policy appropriately.
Normally, damages sought for pain and suffering due to the neglect of the company along with punitive damages for the employer 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 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 (particularly sole proprietorships and partnerships) will not require the insurance coverage unless they have workers who aren’t also owners. Sometimes, the state laws will permit the owners to get the compensation plan for themselves (as their own employees) if they want.
Some states also do not need the business to have compensation insurance plan in place if the staff members are exclusively paid on commission. Depending on the state, the law might deal with uninsured contractors as staff members in case they are hurt while working for you.
Getting the Plan
As a rule, if you have workers 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 work environment is safe, but mishaps do happen, and livelihoods are lost as a result. Therefore, getting workers’ compensation insurance will protect both you and your employees in case of an accident.