BUSINESS LIABILITY
- Errors & Omissions
- Directors & Officers
- Liquor Liability (if required)
- General Liability
- Employment Practices Liability
- Fiduciary Liability
PROPERTY
- Fire
- Theft
- Flood & Water Damage
- Wind & Hail
- Earthquake
- Equipment Breakdown
- Inland Marine
BUSINESS AUTO
- Collision
- Comprehensive
- Auto Liability
- Cargo Liability
- Hired & Non-Owned
BUSINESS INTERRUPTION
- Business Income
- Extra Expenses
CYBER
- Data Breach
- Cyber Liability
WORKERS’ COMPENSATION
- Lost Wages
- Medical Treatment
Every state requires workers’ compensation insurance, including California. In fact, workers’ compensation is required even if your business only has a single employee. While it might be a legal requirement, it’s also a good business decision.
What is workers’ compensation insurance?
- Workers’ compensation, sometimes known as workers’ comp, is insurance coverage that pays the medical expenses and lost wages for your employees when they’re injured or become ill while on the job. In the rare and tragic event of death while on the job, it also pays death benefits to your employee’s family. You also benefit from workers compensation insurance. Your policy covers the enormous expenses of on-the-job accidents and protects you if an employee or their family decide to sue.
How much does a California workers’ compensation insurance policy cost?
- A big concern for most business owners is the cost of workers compensation insurance. Your premiums depend on a wide variety of factors including your business industry, the work your employees perform, how many employees you have, and past workers comp claims. You can work to lower your premium costs by increasing safety and decreasing accident.
What happens if I don’t purchase workers’ comp insurance in California?
- Not purchasing workers’ compensation insurance in California is a criminal offense. Stiff penalties can be levied against you and your business including a fine of $10,000 and up to one year in jail. The Uninsured Employer’s Benefit Trust Fund could also file a lien against your property if it has to pay benefits for one of your employees. The Division of Labor Standards Enforcement can assess a penalty that’s twice the amount you would have paid in premiums or $1,500 per employee. Even worse, if an employee is injured during this time, you could be fined as much as $10,000 per employee.