As an independent contractor in Tarzana, 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 Tarzana 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 Tarzana CA 91356 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
A lot of mid-sized businesses in Tarzana will typically have at least an employee 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 staff members.
Workers’ compensation insurance coverage in Tarzana CA is an insurance policy that offers wage replacement and medical costs to your workers in case they are hurt. This policy is in exchange for mandatory forfeiture of their right to take legal action against the company for compensation.
Why This Policy Is Handy
This policy serves to safeguard the employer from punitive lawsuits by their staff members. In some cases, the lawsuits can cause financial damages causing the business to become insolvent when the damages awarded are too expensive for the company to manage. Therefore, this system of collective liability was adopted to solve the issue.
The compensation strategies in Tarzana differ amongst jurisdictions. Nevertheless, in general terms, a kind of disability insurance in the form of replacement of earnings can be adopted. There will also be compensation for the financial loss for the injured employee, payment or repayment of medical costs along with benefits granted to the staff members’ dependents in case of death.
As a company owner, you should understand why such an insurance coverage comes in handy. Apart from saving you from suits that can damage your credibility, it also prevents you from shutting down due to high damages awarded to the injured worker.
The Policy Is Not Standardized
The workers’ compensation insurance policies are regulated by the individual states and territories business is located. Therefore, there isn’t really a single rule that is followed when awarding damages. Thus, when your company expands to other states, it would be prudent to learn from your lawyer how the law works in that location, and therefore you can adjust the policy accordingly.
Generally, damages sought for pain and suffering due to the negligence of the company in addition to punitive 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 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 staff members 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 workers) if they wish.
Some states also do not require the business to have compensation insurance plan in place if the staff members are entirely paid on commission. Depending on the state, the law may treat uninsured professionals as staff members 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. Most companies take measures to make sure that their work environment is safe, but accidents do occur, and incomes are lost as a result. Therefore, getting workers’ compensation insurance will safeguard both you and your employees in the event of an accident.