I own a company in Missouri. It was an LLC until recently we had it changed to an S corp for tax purposes. I have always had my guys, and so has every other contractor in this area, carry their own work comp and G/L. It will run them about $1500-$2000 a year. That is a whole lot less than if I were to take it out of their checks. One because I do not want to have to mess with it. Two I may get stuck with higher premiums to carry some of the guys that are short timers with me. And three I would need to recoup extra in case someone got hurt or damaged something and I would have to file a claim.
It is also best to carry your own so you can go to work anywhere. If you look at many of the ads on the bar they require installers to carry their own.
But shop around! I have had State Farm for a long time on my houses and vehicles, but my agent was honest enough to tell me that he would not sell me work comp insurance. He told me where to go and who to talk to-I saved about 70% from what State Farm would have charged me.
Good Luck-hope this helps.
Re: insurance
Member #: 33592
Registered: 10/3/2004
Posted:
14
Name:
Ray
Company:
Integrity Communications
Occupation:
Owner
Location:
Missouri
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