workers comp

[customceramicsllc]

builder requests it for bankers,im not required by law to have it being an llc.what should i do next?

[Tiledog]

Do you have it. In IL. it is law now that If sub does not have it contractor has to carry iit for sub and deduct it from wage.

[customceramicsllc]

i called my insurance company and they said im not required by law to have it.they said if i was to get it i would have to have the quote based on $52,000 income(thats the lowest in ct to obtain wc)that would cost me 4 large.
if i had a helper which i dont i could base it on giving helper 5 grand and that would cost me 900 plus bumping my liability insurance up a few bucks.
red tape does my head in.

[Tiledog]

With all we owe the gov. Its a wonder that we can eat. If we were immagrents we would have it made.

[customceramicsllc]

lol dog
i had a filipino with me once.great helper but he took all my cash.(and gas)pick him up drop him off etc.i lost my rag with him one day when i was low on cash and said to him ill pick you up at 7 am tomorrow.
he said "ill have to check my girlfriends schedule"
i said "your on my ****ing schedule and while your at it bring in your ss# tommorow"!
i havn't seen him since

[Tiledog]

I dont want to offend anyone but, I hired a (I guess he was) legal mexican he sspoke fluent english better than me anyway 3 moths latter he thought he knew enough about tile setting that he started his own buisness. lol........
I think he is flipping burgers at hardees now

[tileguytodd]

Workmans Comp policy in MN runs 20 per 100 or 1/5 of your gross Income.
Need i say more as to why i did not have Work Comp?
Woulda run me close to 20 grand per year just on me!!

[Tiledog]

That is one of the reasons I had to let 3 of my 5 people go. Just killing me.

[tileguynky]

Worker's Comp through the state here would run me $3k for one guy at $10 hour with 40 hours a week. Paid $250 and joind local home builders association, now workers comp will run me $1300 for the year. Check with your local hba and see if there is any discounts. Once I get the insurance, not to sure that I will hire somebody just yet.

[MHI]

You are not required by law to have it on yourself.

If you are working as a sub contractor, the contractor who hires you can request it. Actually its the contractors insurance company that requests it.

If you don't want to get it, then you may have to pass on jobs from contractors who are concerned with frilly details like that.

[customceramicsllc]

i heard there was a workers comp waiver?i mean i wont sue anyoone if i break a nail or something.

[Tool Guy - Kg]

Here is a legal way to cheaply satisfy General Contractors who demand Workman's Comp, even if you are not required to carry it as a sole proprietor. So if you can get some sweet work from a GC who demands the WC and you have no employees, this may be just the ticket for you.

Quick disclaimer......I live in WI and this is true in WI. But I won't speak for other states, as I don't know. Talk to your insurance person for details.

Get a hold of your insurance person. Tell them you need WC to satisfy a GC but you will not be using it. Tell them specifically that you want to "opt out" of being covered right now, and that you will be requesting a refund at the end of the year. Not all insurance people handle WC, so you may need to call around. The last time I checked, this coverage was $950 per year for a remodeler. You pay your dough and immediately "opt out".....then at the end of the year, you can get a refund on your $950 (minus approximately $250 that the state holds on to) provided you didn't hire anyone/filed a claim. Now that you got $700 back, you pay $950 for the next year's policy and the process repeats itself.

Red tape...yes.
Bit of a pain...yes.
Is it legal and does it work....yes.

You might ask, well what does this insurance cover if you "opt out" like this?....if you were to hire an employee without letting the insurance people know and they immediately got hurt on the job, this would cover them. If this happened at the GC's worksite, this would shield the GC from having to pay for your new employee. Beware; this isn't a way to "sneak past" getting real insurance for an employee. If you have employees, or will get any, you need to set up a regular policy to cover them with WC. This is only for sole proprietors who "opt out" of the insurance, but still carry the policy to satisfy a GC.

So to sum up, you need to fork out $950/year to get a certificate that satisfies a GC's need for you to have WC. Even though you get $700 back at the end of each year, you pay $250/year for this and you have $950 of your money "out there" all the time. You can't have any employees or helpers at all. Call your insurance person for details.

[BeachTile]

In order to operate legitimately in FL, you must carry WC or file for exemption. The only way to obtain an exemption is to be a vested (10%) owner of an LLC or Corporation. Talk about squashing the American Dream! It makes it especially frustrating to see all of the hacks around here.

[Levi the Tile Guy]

I have never had to carry workers comp. on me, but for my employees it is a fortune. I pay $896.00 a month. and had to go past my agent to the actual company (pinnacle) to let me make monthly payments. No way I could fork out 10,592 for insurance in one payment.

[Bill Vincent]

John-- You're right-- in Ct., in your position, WC's not required. But what some GC's will do is make it a COMPANY policy to require it. It weeds out alot of the fly by nights. Unfortunately, some good people get caught up in it, as well. It's the same up here in Maine.