California Contractors Insurance
California Workers Compensation Insurance
Workers Compensation insurance provides benefits to employees injured on the job and protects employers by limiting their liability.
Contractors Insurance Solutions specializes in Workers Compensation for contractors in Los Angeles and also serves contractors all across California. CIS conducts an in-depth Needs Analysis evaluation for your company. There are different types of policies a contractors can buy to meet California State requirements. The choice in policy is determined by a number of factors including but not limited to the type of business being conducted, and the number of employed workers. California State Law requires that any business which has one or more employee must obtain Workers Compensation Insurance. Creating the right Workers Compensation insurance package is one the most important business decisions you will make as a contractor. Because Contractors Insurance Solutions is owned and operated by a licensed California contractor, the company is passionate about providing its clients with the highest quality service and support in selecting an appropriate Workers Compensation package. By partnering with a broker whose focus is construction, a client may be assured that he or she is receiving quality coverage at an excellent rate.
In California, employers are legally enforced to purchase a workers compensation liability insurance for their employees. Workers compensation coverage allows the employer to protect their employees in case of an injury in their place of business.
What is Workers Compensation?
Workers Compensation varies from state-to-state but the components are virtually the same. If an employee is injured on the job, he is entitled to some type of compensation. If the accident happened at a construction site, such as if a worker fell from scaffolding and was severely injured, the employee is entitled to financial compensation. He may be able to collect lost wages up to a certain amount of time or depending on the severity of the injury, pain and suffering. (Some states actually provide a chart in their codes and regulations. For example, if an employee lost a limb, the employee is entitled to lost wages for 800 weeks.)
How Does Workers Compensation Protect an Employer?
Legally, fault doesn’t matter with workplace injuries in California. The insurance covers the employer from serious financial hardship if a worker’s injuries cause him to be out of work for months. Workers compensation also helps a business owner from any potential lawsuits. Under the law, as long as an employee is receiving workers compensation benefits, he is not allowed to also file a lawsuit for the same injuries that arise from the accident.
The Cost of Workers Compensation
Most construction policy’s rates vary from what trade to trade. Roofing contractors rate is 36% to 75% on a hundred dollars. If you pay your employees less than $24 an hour the employer would pay $75 for every $100 they pay their worker in California. The rates and prices change from class code of work being done. If the work is dangerous it will cost more money to insure the employee.
Once an employee has either left your company or is terminated the employer is not responsible to cover them. This protects the employer because upon cancellation, the employer is not liable for injury caused after the employee’s termination. Why is this important? Well, an employee cannot file a lawsuit a year after termination claiming that he suffered an injury on the job. As long as the employer can prove that the employee was covered under there policy, the employer is protected.
Don’t Take Any Chances
If you are a business owner, don’t gamble with your business and employees. Protect yourself with workers compensation liability insurance. Otherwise, your employee might sue you, win your business and you might find yourself working for him one day.
What Contractors Workers Compensation Insurance Is and Why It's Important
As a business owner, as soon as you start taking on your own employees, you will gain a number of serious responsibilities. Foremost among these is the ability to provide for these individuals if they get hurt while on the job. Following is everything you need to know about contractors workers compensation insurance, including what it is and why you need it.
These policies will cover all of the damages that people incur after having suffered personal injuries on the work site. These include lost wages, medical expenses, legal fees if any are incurred, medical supplies and even pain and suffering in some instances. This way, you won't have to pay for these things out of your own pocket. More importantly, both regulatory bodies and your workers can know that you have the ability to take care of these expenses in t
It is vital to note that having this coverage is absolutely essential once you start adding employees to your team. This is a legal requirement that all business owners must adhere to. If they do not, they could face fines and other penalties. Laws pertaining to these plans exist to protect workers and they are taken quite seriously.
Another key thing to note is that some people have taken advantage of this coverage in the past. For instance, workers might harm themselves at home or in some other part of their personal lives and then report these same injuries as work injuries. More commonly, however, people simply claim to be more injured than they actually are or they claim to be injured when they're actually not.
All insurance companies have their own claims adjusters and workers comp investigators. Their goal is to protect both your interests and their own. If investigators find people engaging in lively activities that contradict their claims of being injured, they will collect evidence and take action on your behalf.
You may be able to get a good deal on this insurance if you opt to purchase it through a company that you are already working with. For instance, your business probably has general liability coverage. When you get ready to secure this plan, simply ask your current provider whether or not loyalty discounts are available.
It is definitely a good idea to work with an agent or broker, particularly if you have never shopped for commercial coverage before. These professionals can tell you all about the best coverage limits for keeping your company in compliance and for meeting the needs of your overall risk profile. They can additionally tell you more about the available plan terms and features while helping you choose policies that are best in line with your budgets and your short and long-term needs.
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