As an independent contractor in Westlake Village, 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 Company Near Me In Westlake Village 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 Westlake Village CA 91359 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 Westlake Village will typically have at least a staff member or more. Thus, 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 happens to any of your employees.
Workers’ compensation insurance coverage in Westlake Village CA is an insurance policy that provides wage replacement and medical expenditures to your employees in case they are hurt. This policy is in exchange for necessary relinquishment of their right to take legal action against the company for compensation.
Why This Policy Is Helpful
This policy serves to protect the employer from punitive suits by their employees. Often, the claims can cause financial damages leading to the business to become insolvent when the damages awarded are too high for the employer to pay for. Thus, this system of cumulative liability was adopted to solve the concern.
The compensation plans in Westlake Village vary amongst jurisdictions. Nevertheless, in general terms, a form of disability insurance through replacement of incomes can be adopted. There will also be compensation for the economic loss for the injured worker, payment or compensation of medical expenses in addition to benefits granted to the staff members’ dependents in case of death.
As an entrepreneur, you should understand why such an insurance coverage comes in handy. Apart from saving you from lawsuits that can damage your reputation, it also prevents you from shutting down due to high damages granted to the hurt worker.
The Policy Is Not Standardized
The workers’ compensation insurance coverage are regulated by the individual states and territories business is located. Thus, there isn’t really a single rule that is followed when granting damages. Hence, when your company expands to other states, it would be prudent to find out from your attorney how the law operates in that area, and therefore you can change the policy accordingly.
Normally, 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 employer 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 instance, small companies (specifically sole proprietorships and partnerships) will not require the insurance coverage unless they have staff members who aren’t also owners. Often, the state laws will enable the owners to get the compensation plan for themselves (as their own workers) if they want.
Some states also don’t require the business to have compensation insurance plan in place if the staff members are exclusively paid on commission. Depending upon the state, the law may treat 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. Most employers take measures to guarantee that their workplace is safe, but mishaps do take place, and livelihoods are lost as a result. Hence, getting workers’ compensation insurance will safeguard both you and your staff members in the event of an accident.