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Tyrone Said:

Is workers compensation insurance on a scale?

We Answered:

Work comp works similar to your personal auto insurance, the more accidents you have the higher your premium will be. Every employer has what is called an 'experience modifier' (ExMod). The more claims you have against you, the higher your exmod will be. To get the rates, they take the standard rate for your class code and multiply it by your exmod to get your current rate.

What this means is that if the annual WC premium is $500,000 for a company with exmod of 1.00; if the same company has exmod of 1.50, for the same amount of coverage the premium would be $750,000 (500,000 x 1.5). If your exmod was 0.75, your premium would be $375,000 for the same amount of coverage. It really pays to keep your claims to a minimum.

Your annual WC premium is calculated based on your annual payroll. The more employees you have, the more you have to pay.

Terrance Said:

What is the average cost per person for Workers Compensation Insurance in the State of Florida?

We Answered:

How in the world do you average a clerical paper pusher ($75 a year) and a deep sea fisherman ($25,000)?

You can't, and get a reasonable number.

You need to talk to a local agent, and get a real quote, based on REAL payrolls and REAL job descriptions - pretty darned descriptive job descriptions, too.

*Zeuz's $5 rate for risky is way, way too low. It can be up to $25, and is, for roofers.*

Gertrude Said:

If you are on workers compensation insurance in CA and you get pregnant will your benefits (Payments) stop?

We Answered:

No. It is irrelevant to the injury.

Judith Said:

Is there an alternative to workers compensation insurance for sole proprietor in Ohio?

We Answered:

If the owner of the project requires you to carry Work Comp, there is no way around getting it. How many employees do you have? If you have none, then you can get a minimum premium policy by excluding yourself from coverage.
Good luck to you!

EDIT-

I apologize, this came off sounding rude, that was not my intention. There is generally a bond available depending on the state you live in, but you will generally have to put up some sort of collateral, get approved through review of your personal credit and your financial strength, which can be difficult and pay premiums on top of that so it is generally not a very economical replacement for a Workers Compensation policy.

Good luck to you!

Marjorie Said:

Who is required by law to have workers compensation insurance?

We Answered:

It depends on your state laws. Most states will not require it for him as a sole proprietor but it is a really good idea. Also, if he ever hires one person, he will likely be required to have it. What if he falls off a ladder & breaks something? He will be out of work a good long time & what will you use for income? He may have good health insurance but that will only pay the medical bills, not his loss of income. The homeowner/building owner will likely not be liable if your husband just injured himself in the course of the work & the homeowner/building owner did nothing wrong.
Go to the agent who writes his general liability/commercial auot policy & ask for a quote.