As an independent contractor in Truckee, 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 Truckee 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 Truckee CA 96160 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
The majority of mid-sized businesses in Truckee will generally have at least a staff member or two. 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 staff members.
Workers’ compensation insurance coverage in Truckee CA is an insurance policy that offers wage replacement and medical expenses to your staff members in case they are injured. This policy is in exchange for obligatory relinquishment of their right to sue the employer for compensation.
Why This Policy Is Helpful
This policy serves to protect the company from punitive claims by their employees. In some cases, the suits can cause monetary damages resulting in the business to become insolvent when the damages granted are too high for the company to afford. Therefore, this system of cumulative liability was adopted to solve the issue.
The compensation plans in Truckee vary among jurisdictions. However, in general terms, a type of disability insurance through replacement of incomes can be adopted. There will also be compensation for the financial loss for the hurt employee, payment or compensation of medical expenditures in addition to benefits awarded to the staff members’ dependents in case of death.
As a company owner, you should understand why such an insurance policy comes in handy. Apart from saving you from suits that can damage your track record, it also prevents you from closing 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 territories the business is located. Thus, there isn’t a single rule that is followed when awarding damages. Hence, when your company expands to other states, it would be prudent to learn from your attorney how the law works in that location, and therefore you can change the policy accordingly.
Usually, damages sought for pain and suffering due to the neglect of the company along with compensatory damages for the employer 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 workers at risk of injury even if 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 companies (particularly sole proprietorships and collaborations) will not require the insurance coverage unless they have employees who aren’t also owners. Often, the state laws will enable the owners to get the compensation plan for themselves (as their own employees) 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 contractors as workers in case they are injured 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 guarantee that their workplace is safe, but accidents do happen, and incomes are lost as a result. Hence, getting workers’ compensation insurance will protect both you and your staff members in case of an accident.