Start Workers Compensation
Insurance in California
If you've taken the leap recently
to start out on your own and open a new business you're
inundated with the chore of getting your company off the
launch pad. Beyond acquiring office space, capital
equipment, and attracting the best employee talent
available you probably had no idea as to how one would
acquire workers' compensation insurance. At
workers-comp-california.com we are here to help and make
your life simpler so you can get back to the business of
getting your company off the ground. Here are some
great tips on how to start Workers' Compensation
insurance in California.
who you have to insure
First tabulate the number of
employees eligible for your coverage. Remember this is
not just as simple as all of your w2 payroll employees.
1099 Contractors can be required for workers'
compensation coverage in many situations. Also, you'll
be happy to know that owners of the company typically do
not have to insure themselves.
Split up the compensation
amounts by job type
Next, you are going to have to
determine out of the employee compensation, titled
'remuneration' on the quote form, how much money per
employee job type, duties or description are allocate
per job classification. Here's the slightly tricky
part.. you will have to determine by a classification
code you assign these amounts. If you need assistance
determining which job classification code to use it is
better to ask us rather than guessing. Using a risky
code by mistake could be costly to the premiums.
Get started on your quote form
There is a standard form to request
a workers' compensation quote, and it is typically much
easier to complete than the form appears. To make it
simple, we've highlighted just the fields we absolutely
need in yellow to request your quotes. That way you are
actually just filling out a piece of the form. What
could be easier? Access the
Workers Comp Quote form.
Don't wait to get this done
This is not a situation which gets
better putting it off with time. The State of CA law
requires you to get the coverage, and the insurance
carriers will mandate that you do not go uninsured prior
to getting an approval with them. So, the longer you
wait the more difficult, expensive and risky the
situation gets. Operating a business without
workers' compensation insurance is a serious situation.
You have a very short period of time as a startup
company to submit your application for coverage so get
it done today!
There is always a path!
Don't delay if you think you are a
high risk due to the industry your company operates, or
if you have complexities to deal with like operations in
other states or foreign employees coming and going.
Even if you've had a cancellation in coverage the best
path is to quickly jump on your project and get to
work. The State of California mandates the coverage for
all business, therefore it uses the Stand Fund to
compete and insure companies where the private market
How to get the best Workers Comp rate
State Fund in California