Workers’ compensation insurance
is essentially a form insurance that offers medical aid and financial
assistance to the employees who get injured while on the job. It is
essentially the employees’ right to sue his employer for the
negligence whatsoever included in the policy.
Companies need to have workers’compensation insurance policy for the welfare and protection of
their employees from sudden accidents. Some of the states like:
California makes its mandatory for the employers to have
workers’ compensation insurance even if they have hired a
single employee. So, all those employers who have hired an employee
on contract basis and/or on permanent basis need to have this type of
insurance plan.
So, if you are the sole owner of your
business and have hired or keep hiring employees on temporary basis,
still you are still required to have workers’ compensation
coverage. For this, you may seek right assistance from your chosen
insurance carrier, insurance agent, or maybe your lawyer. Explain
your business and the exact situation to your insurance company and
they will be able to suggest you with the right plan.
As per the law, it is necessary for all
the employers in California to have workers’ compensation
insurance in California from a licensed and authorized service
provider like: - Bozzuto
Insurance Agency.
As far as the premium rates are
concerned, it is not planned by the state. It is the Workers’
Compensation Insurance Rating Bureau which regulates the rates that
all the carriers need to adhere. So whatever rate they decide, they
need to file with the California Department of Insurance.
And while you look for the best
insurance carrier, you should enquire about a few things, such as: -
- Premium rate
- Cost
- Experience of writing workers’ compensation insurance policy for similar domain of business
- Benefits offered
- Tie-ups with the hospitals and medical institutions
- Ease of getting the claim amount, etc.
Hence, it is important to consult an
experienced and licensed insurance carrier. They will be able to help
you with the premiums after looking at your history of work-related
injuries, payroll, etc.
Contact
Us to help us write workers’ compensation insurance plan
for your business.
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