workmans comp

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tonyou812

tonyou812

Senior Member
Location
North New Jersey
Is it possible to shop around for workmans comp insurance or do all the insurance companys charge the same amount. I am interested in obtaining this insurance specifically for the hirring of temp workers. I am new to the bizz and work mainly alone so i dont feel that i need it for myself just yet
but occasionally i will need to hire some help and I want to do it legal and safe. any help on this would be greatly appreciated.
 
Try calling Paychex i think all workers comp is the same but they allow me to pay it weekly based on labor used for the week. My insurance carrier wanted a big deposit and i would be audited at the end of the year. With Paychex no deposit and no audit.
 
a lot of temp services come w/ their own workers comp and liability for their employees. call and ask them
 
tonyou812 said:
Is it possible to shop around for workmans comp insurance or do all the insurance companys charge the same amount. I am interested in obtaining this insurance specifically for the hirring of temp workers. I am new to the bizz and work mainly alone so i dont feel that i need it for myself just yet
but occasionally i will need to hire some help and I want to do it legal and safe. any help on this would be greatly appreciated.
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In the end the state controls the comp rates, and every trade has it's ratings, and there are sub trade ratings, don't forgetyou will have to pay both private insu and state dis fund.

It's not cheap when you try to run a legal contracting business in New Jersey. It's ever tougher with all the underground workers doing contracting and since they don't pay for insurances licenses state or federal taxes they can under cut your prices.
 
Get workmans comp even if it just covers you especially if you have no health insurance and even if you do some have exclusions for self employed accident claims.A small hospital stay can run into thousands of dollars.
 
Rewire said:
Get workmans comp even if it just covers you especially if you have no health insurance and even if you do some have exclusions for self employed accident claims.A small hospital stay can run into thousands of dollars.
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When i started out before we were went the Inc. route comp insurance was not required by the state for just myself, but what i did discover was I was loosing out on a lot of work, just because the law did not require it, did not mean it was not needed to do business, the larger part of my customers did not want anyone working in their home with out comp insurance, and all of the commercial, and industrial accounts requires it.
 
Rewire said:
Get workmans comp even if it just covers you especially if you have no health insurance and even if you do some have exclusions for self employed accident claims.A small hospital stay can run into thousands of dollars.
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I had to have a certif. of workers comp for the contractors I work for. I was quoted $850.00 per year and it did not cover any one. For $853.00 it would cover workers up to $5000.00 of payroll and then so much per hundred of payroll, now like you I do not have any employees however if i did hire someone they were covered. Now if I wanted this to also cover me as the owner it was going to be about $1700.00 per year
 
ceb said:
I had to have a certif. of workers comp for the contractors I work for. I was quoted $850.00 per year and it did not cover any one. For $853.00 it would cover workers up to $5000.00 of payroll and then so much per hundred of payroll, now like you I do not have any employees however if i did hire someone they were covered. Now if I wanted this to also cover me as the owner it was going to be about $1700.00 per year
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I took a spill off a 6ft ladder three feet up ,shoulder landed on ladder dislocating it along with tearing most of the tendons an ambulance took me to the ER a week latter the Orto surgeon looked at it ,4 hours of surgery to put it all back together and a year of PT.I am glad I ponied up the extra to cover myself.
 
Rewire said:
I took a spill off a 6ft ladder three feet up ,shoulder landed on ladder dislocating it along with tearing most of the tendons an ambulance took me to the ER a week latter the Orto surgeon looked at it ,4 hours of surgery to put it all back together and a year of PT.I am glad I ponied up the extra to cover myself.
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Yes, you were smart to include your self in your ins. and I should have made clear in my situation that I also work a full time job with the state and have my own ins. Yes, if you are out own your own it would be well worth the money
 
Rewire said:
I took a spill off a 6ft ladder three feet up ,shoulder landed on ladder dislocating it along with tearing most of the tendons an ambulance took me to the ER a week latter the Orto surgeon looked at it ,4 hours of surgery to put it all back together and a year of PT.I am glad I ponied up the extra to cover myself.
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i have a disability insurance plan that pays out much better than comp, covers hopsital and PT, and costs MUCH less than workers comp. Not sure what you're paying, but you may want to check in to it. I'm trying to get a berkshire policy at the moment, which looks even better, but apparently they don't want to cover people who actually work and may pose a legitimate risk. its currently still "under review."
 
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