As an independent contractor in Universal City, 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 Universal City 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 Universal City CA 91608 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 Universal City will normally have at least a worker or two. Hence, 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 occurs to any of your workers.
Workers’ compensation insurance coverage in Universal City CA is an insurance policy that supplies wage replacement and medical expenditures to your workers in case they are hurt. This policy is in exchange for obligatory forfeiture of their right to take legal action against the employer for compensation.
Why This Policy Is Practical
This policy serves to protect the company from punitive claims by their workers. Often, the claims can cause monetary damages leading to 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 fix the concern.
The compensation plans in Universal City vary among jurisdictions. However, in general terms, a type of disability insurance in the form of replacement of salaries can be adopted. There will also be compensation for the financial loss for the hurt staff member, payment or repayment of medical expenditures along with benefits awarded to the staff members’ dependents in case of death.
As a company owner, you should comprehend why such an insurance policy comes in handy. Apart from saving you from suits that can damage your reputation, it also prevents you from closing down due to high damages awarded to the hurt staff member.
The Policy Is Not Standardized
The workers’ compensation insurance coverage are controlled by the individual states and territories the business is located. Therefore, 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 discover from your attorney how the law operates in that location, and therefore you can adjust the policy accordingly.
Generally, damages sought for pain and suffering due to the carelessness of the employer in addition to compensatory damages for the company are not covered by the workers’ compensation plan. Thus, 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 is in place.
Not All Businesses Apply
Not all companies need to have workers’ compensation insurance in place. For example, small companies (specifically sole proprietorships and partnerships) will not require the insurance coverage unless they have workers who aren’t also owners. Sometimes, the state laws will allow 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 employees are solely paid on commission. Depending upon the state, the law may treat uninsured specialists as staff members 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. The majority of employers take measures to make sure that their workplace is safe, but mishaps do take place, and livelihoods are lost as a result. Hence, getting workers’ compensation insurance will protect both you and your staff members in case of an accident.