Individual contractors need workers compensation too

The purpose of having workers compensation insurance is to protect both employers and employees from a financial loss due to an on-the-job injury. By law, all employers are required to carry a certain amount of workers compensation insurance. However, if you are an individual contractor without any employees, should I really carry this type of insurance plan? The answer is yes.

According to the State of California Department of Industrial Relations, purchasing workers compensation is optional, if you do not have any employees. However, they suggest to carry it in the event you hire an employee, even if it is temporary, you are already covered. For example, general contractors are protected in the event they need to work with a subcontractor for a specific job. There will be no delay in work if you already have the necessary insurance coverage to add a subcontractor.

Your workers compensation plan will protect anyone who works for you, including family, volunteers, temporary staff, part-time, full-time and subcontractors. Should you hire someone, you can be fined and sued for not carrying workers compensation insurance. It can be rather costly, especially if the employee gets hurts while on the job. Protect yourself, your business and your family from any financial disasters and start carrying a workers compensation policy right away. It is better to be prepared in the event of hiring someone than have to wait for the insurance policy to go into effect.

For more information about workers compensation plans available to individual contractors in Hemet, California contact Agape Brokers Insurance Agency today.

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