Terry Campbell
Member
Me and My brother are on it.
Workers Comp Who Has It?
- Thread starter Kory
- Start date
jlpressure
JL Pressure Washing
Usually W/C only covers the employees not you or a partner. If you want it on yourself its pretty big bucks. Just wanted to let you know
jlpressure
JL Pressure Washing
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
Russ Spence
Commercial Pressure Wash Expert
Scott Stone
New member
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.
jlpressure
JL Pressure Washing
I forget for sure but to add me it was like 4K. I'm getting old i cant remember everything LOL
Doug Dahlke
New member
One PM comany I work for would not even let me quote work until I proved I had WC insurance.
Russ Spence
Commercial Pressure Wash Expert
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.
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 !
Chris Francis
Member
Russ how many states do you have to have w/c I though that was able to cross lines of the states. So W/C for every state what about business lec do you need one for every state you work in
Russ Spence
Commercial Pressure Wash Expert
I have 17 seperate states listed as additional on our policy
Russ Spence
Commercial Pressure Wash Expert
yes we are licensed in each state that requires it
jlpressure
JL Pressure Washing
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
Chris Francis
Member
You and Ron the two big boys I know this site damn 17 states damn give me quart of that I would be happy. Hate say this but I read most of yours and Rons post try to copy what I can use it in my business.
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
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
jlpressure
JL Pressure Washing
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
Scott Stone
New member
I HATE the audits. They are never in my favor.
Chris Francis
Member
stop saying audit makes me think of the IRS we all love those thiefs.