Workers Comp

[ACE]

How many of you owner operators carry workers comp and how much do you pay? I know it may very from state to state. I am still looking into how much it will cost me but my agent guessed it would be 3-4 K a year just to insure myself. I am having to discount some subcontract work 3% for not having WC and many contracts ask for proof of WC. The IICRC is requiring proof of WC for certified firms.

 

[Lonny]

Do they require proof even if it is just you doing the work?
Sorry I never carried it for just myself.

 

[Larry B]

We pay $318 per month for employees.



Adding yourself to WK will kill you. Your agent should tell you the prices for an O/O are out of this world because the amount of money it would cost to cover you and a closed business is high.


If your talking just for you purchase health ins and short term Dis ins.

 

[Mark Saiger]

My workers comp in Minnesota is based on per $100 dollars paid. It doesn't cost for me or immediate family members here. My total cost of workers comp for others I employ part time came to about $1000 total for last year. I anticipate it could double for next year due to us having more work. I mainly employ other family members and family friends on out restoration work. These people have been with us for quite sometime now.

Mark Saiger

 

[Curtis Pennington]

If your by yourself file exempt...employees go to a payroll company it will save you a lot of dough.

 

[Curtis Pennington]

If your by yourself file exempt...employees go to a payroll company it will save you a lot of dough.

 

[Gary T]

In Il even though I am an OO, because I am a corp, I have to pay. 4% of the first $12K or something like that. I know it differs from state to state but check with the agency itself. It sucks but better to pay now than pay double+ if they find you haven't been in compliance.

 

[Jeff Madsen]

In Nebraska there is an officers exemption for corporations. If there is any way to legally avoid paying this you should. It's functionally just another cost-shifting tax on self-employed owner operators - just like the thousands I've been forced to pay into unemployment over the years even though I won't be unemployed 'till it's time for my dirt-nap.

 

[clean one]

I'm having to deal with this now too, when i had employee's i carried it. The NC law states if you have less then 3 emp you don't need WC.

If you are a sole proprietorship, partnership, LLC, estate, or trust, you are required by law to carry coverage once you have three (3) employees who are regularly employed, in addition to the sole proprietor, partners, formulators of the LLC, executor of the estate, and bearer of the trust. It does not matter if these employees are full time, part time, regular seasonal or family members.

I can get a ghost policy for 850.00 that i can not file a claim against if something happens
But i have a contractor that says his ins co says i have to have WC

 

[Larry B]

www.shopinsuranceonline.com


The people at the above site can get you awsome prices on Bonding, WK & GL they are easy to work with and get ins certs online in seconds.


If you just want WK call Applachian Underwriters @ 800-797-8955

Great WK prices

 

[clean one]

Thanks Larry i sent them a email

 

[Larry B]

Here is the contact info for the guy we talk with


Jeffrey W Kaplan, President
www.shopinsuranceonline.com
Insurance Source.Com Inc
P.O. Box 270119
Tampa, FL 33688-0119
Cell 863-934-9372 Office: 813-902-8191
Fax 813-902-7007

 

[Larry B]

One other thing about the above company. They do not require huge amounts down to start. I think its like one month then they will let you pay over 10 months so you have 2 months of the year with no payments. Its cheaper to pay all at once but to get it started it helps.

 

[Brian R]

We don't need it unless we have employees.