Workers Comp Who Has It?

Do You Have Workers Comp?


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    51
In Ohio our WC is required for employees. For the Business owner, we pay an extra $10.00 per yr. We are also in a 75% rateing. It pays to belong to a group.
 
In Ohio our WC is required for employees. For the Business owner, we pay an extra $10.00 per yr. We are also in a 75% rateing. It pays to belong to a group.

No discount in our state no matter what. They look at it as the owner may use it as an insurance plan for themselves. Basically fraud the system

Terry if you get hurt on the job you are covered under W/C for $10 wow. Not here in SC and most states. I thought it was all states. Thats great
 
I do not even know how much it costs to include corporate officers. I know I am not included, but I do carry workmens comp. All my accounts require it, and like above, get new cert's every year. We have a state compensation fund that is typically the least expensive way for a small business to go, at least in Arizona.
 
I do not even know how much it costs to include corporate officers. I know I am not included, but I do carry workmens comp. All my accounts require it, and like above, get new cert's every year. We have a state compensation fund that is typically the least expensive way for a small business to go, at least in Arizona.

I forget for sure but to add me it was like 4K. I'm getting old i cant remember everything LOL
 
That's the part I don't get. The law says you must cover employees and it is up to you if you want to cover yourself. Whenever I'm asked for my insurances I just submit my $1M liability policy and a copy of the exclusion certificate and all is well. I haven't run into a commercial account yet saying that was insufficient (though I certainly haven't built up much of a list yet on the commercial front). You guys are now saying it may be.:confused:

it will work for some but the larger property management companies out this way will require you have it and I have to have it in different states on seperate policies as well $$$$$$$$ :(

BUT It pays for its self ! :D
 
I have 17 seperate states listed as additional on our policy

Like Russ says , you dont have to have seperate W/C policy in every state, but you should make sure your insurance has you listed for other states. Its not something I knew at first until I checked into it and had other states listed on my policy
 
We carry work comp, but in MN owners can choose whether to cover themselves or not, and we do not.

Most commercial jobs require a copy of the policy before beginning work or before payment. Our policy is between $150-$300 depending on limits.

If you have employees, or cover yourself, you pay a estimated deposit and settle up at the end of the year with an audit based on # of hours worked in each job classification. The amount is based on a rate per $100 of labor costs.

We are issued an experience mod each year that is applied to the total cost. If you have had a lot of claims your mod will be above 1.0 and will increase your total. If you have had little or no claims, the rate will be below 1.0 and will reduce your overall cost.

I hope this is of help to someone.

Bob
 
We carry work comp, but in MN owners can choose whether to cover themselves or not, and we do not.

Most commercial jobs require a copy of the policy before beginning work or before payment. Our policy is between $150-$300 depending on limits.

If you have employees, or cover yourself, you pay a estimated deposit and settle up at the end of the year with an audit based on # of hours worked in each job classification. The amount is based on a rate per $100 of labor costs.

We are issued an experience mod each year that is applied to the total cost. If you have had a lot of claims your mod will be above 1.0 and will increase your total. If you have had little or no claims, the rate will be below 1.0 and will reduce your overall cost.

I hope this is of help to someone.

Bob


Ya and make sure you do a good estimate i got whacked on my audit. I just went off the prior years numbers. I had to pay $7000+ extra for 2007 and then another 7000+ extra for this year after the audit:(
 
I HATE the audits. They are never in my favor.
 
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