Workers compensation for roofing business

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Posted: Thu Feb 11, 2010 9:13 am Post subject: Workers compensation for roofing business

We're about to start our new roofing business. We've been suggested to go for workers' compensation insurance. The rep says that we'd need to pay around $30 for every $100 worth of wages. We're not really sure if it's gonnabe beneficial for us at all! _________________ Register Now to have your Insurance queries solved.

Justinh

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Posted: Fri Feb 12, 2010 11:52 am Post subject:

Once you're injured, the coverage will reimburse you for the lost time as well as the medical bills. The state has allocated specified amounts for different categories of serious injuries. Such amounts may vary from two thousand to one million. It will cover for your hospital visits, physio-therapies, chiropractic visits etc.

steven

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Posted: Fri Feb 12, 2010 5:13 pm Post subject:

Depending on the state, you are probably going to be required by law to carry worker's compensation coverage for your employees. Commonly, worker's comp is a mandatory purchase; not an optional one. There are some exceptions to the rule, and most states allow "self-insured" worker's compensation environments if certain metrics are met. What state are you in, what kind of company entity are you planning on creating (self-employed, partnership, etc.) and are you going to hire any workers? This info will let me give you much more specific details. InsTeacher

InsTeacher

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Posted: Sat Feb 13, 2010 8:07 am Post subject:

You're right..we're about to start a partnership in the state of Louisiana. We're also looking to hire some workers soon. _________________ Register Now to have your Insurance queries solved.

Justinh

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Posted: Mon Feb 15, 2010 12:54 pm Post subject:

It's hard to sue a co. with w comp. benefits for sufferings and pains. However, you may sue a third party if it's warranted. This is done just to ensure that the insured's family manages a decent living in the event the insured gets hurt at work.

roddick

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Posted: Fri Jun 24, 2011 6:48 am Post subject:

Thanks for the information, i also want to buy an insurance for my workers. ___________ upgrade sap 6.0