CONCRETE CONTRACTOR WORKERS COMPENSATION INSURANCE

What Is Workers’ Compensation Insurance?

In California, concrete contractors are required to carry workers’ compensation insurance regardless of having employees. Starting in January 2023, contractors who possess a C-8 Concrete, C-20 Heating, Warm-Air Ventilating and Air Conditioning, C-22 Asbestos Abatement, or D-49 Tree Service license are required to hold valid workers’ compensation insurance as of January 1, 2023. By July 1, 2023, if workers’ compensation insurance has not been acquired, the license classification will be removed.

Workers’ compensation insurance provides financial and medical benefits to employees who are injured on the job or become ill as a result of their job duties.

If an employee is injured while working on a construction site or performing duties related to the concrete contracting business, workers’ compensation insurance will cover the cost of medical treatment and lost wages. It will also provide death benefits to the families of employees who are killed in work-related accidents.

Having workers’ compensation insurance is not only required by law in California, but it is also important for protecting both your business and your employees. It ensures that your employees have access to the medical treatment and financial support they need in the event of a workplace injury or illness, and it helps to protect your business from financial liability in the event of a workplace accident.

If you are a concrete contractor in California, it is important to make sure you have adequate workers’ compensation coverage in place. This will help to ensure that you and your employees are protected in the event of a workplace injury or illness.

While workers’ compensation can help offer benefits to cover work-related injuries and illnesses, you may still be at risk to additional liabilities. Think about other types of insurance that can help protect business. Other coverages include:

  • General liability
  • Errors and omissions
  • Commercial auto insurance

General liability insurance helps protect your business from different claims. These include bodily injury, personal and advertising injury, and property damage.

Errors and omissions insurance helps protect you and your business when a mistake is made in the professional services provided to a customer.

Commercial auto insurance helps protect you if you’re using a vehicle for business purposes and are found at fault of a car accident. If there is property damage or bodily injuries, this can help cover the costs.

Without these other coverages, you company may be liable for the expenses. The costs of damages can be expensive and sufficient to bankrupt any small business or company.

Do I Need Workers Compensation Insurance If Am Self Employed?

Although Workers’ Comp is typically used for employees, it can also apply to independent contractors. As an independent contractor, work comp insurance can help protect you from work-related injuries or illnesses. In addition many companies you do subcontracting work for my require you and your company to obtain workers’ compensation insurance prior to working on their job site.

Who needs it?

All Concrete Contractor C-8 License, subcontractors and independent tradesman should will be required by law to carry workers’ compensation insurance by January 1,2023.

It’s always good to have insurance in case of accidents, even if it isn’t required contractually.

Do I Need Workers Compensation Insurance If Am Self Employed?

Yes! Starting in January 2023, contractors who possess a C-8 Concrete, C-20 Heating, Warm-Air Ventilating and Air Conditioning, C-22 Asbestos Abatement, or D-49 Tree Service license are required to hold valid workers’ compensation insurance as of January 1, 2023. By July 1, 2023, if workers’ compensation insurance has not been acquired, the license classification will be removed.

How much does it cost?

Insurance companies use a many of different factors to come up with your workers’ compensation insurance cost, such as:

  • Total Payroll
  • Industry Type
  • Number of Employees
  • Employees’ type of work
  • Claims history

Every business is unique, and workers’ compensation insurance costs differ. The costs can also change depending on the number of employees a business has. That’s due to payroll is a major part of the premium estimate for work comp insurance.

The greatest way to find out how much your workers’ compensation insurance will cost is to a Quick & Easy Quote

Basic Coverages

  • General Liability (GL): often referred to as business liability insurance, is coverage that can protect you from a variety of claims including bodily injury, property damage, personal injury and others that can arise from your business operations. Typically needed before a contractor can begin work on a job
  • Commercial Auto: Commercial auto insurance is liability and physical damage protection for vehicles, such as cars, trucks and vans, that are used for business. Commercial vehicles require a separate policy because they’re typically exposed to more risk than personal vehicles. You have the choice to cover attached equipment such as ladder racks and permanently attached tool boxes. Individual tools and materials usually aren’t covered under this policy.

Other coverages contractors might need

  • Business Owners Policy (BOP): Packages contractors liability and coverage for personal property and commercial buildings into one policy.
  • Workers’ Compensation: Protects if your employees become ill or injured while at work.

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