Door and Window Contractors Workers’ Compensation Insurance
What is Workers’ Compensation Insurance?
Workers’ Compensation insurance offers wage and medical benefits to workers who are injured or sick while at work. The insurance is required by each state, and the medical and wage benefits vary from state to state. Workers’ compensation is regarded as insurance for social reasons because it is based on a social contract between labor and management in exchange for the purchase of workers’ compensation insurance. The entrepreneurs are protected from civil lawsuits from their employees who are injured during the course of work. We will explain the coverage, advantages, consequences, and cost of workers’ compensation insurance for Door and Window Contractors.
What does Workers’ Compensation cover for Door and Window Contractors?
For Door and Window Contractors, Workers’ compensation insurance usually includes:
Medical Expense: It includes all the expenses like hospital stays, medicine prescriptions, and check-ups from a doctor.
Lost Wages: If the employee is not able to work due to injury.
Rehabilitation expenses: If the employee needs physical therapy or other treatment.
Death Benefits: If an employee dies as a result of work-related injury. It is important for Door and Window Contractors to have workers’ compensation insurance to protect their employees and their business. If an employee is injured on the job, workers’ compensation insurance will help the contractor to cover their expenses. These expenses are like medical treatment, financial assistance, etc. It can also protect the contractor from legal liability.
Why do Door and Window Contractors Need Workers' Compensation insurance?
Door and window contractors need workers’ compensation insurance because it is mandatory in most states. For Example, in North Carolina all businesses that hire more than three employees are required to have workers’ compensation insurance.
For Door and window contractors, workplace accidents or injuries can result in huge financial burden, Workers’ compensation insurance helps contractors by covering medical bills, rehabilitation expenses and lost wages.
By providing workers’ compensation insurance, contractors can protect themselves from any lawsuit which can be filed by injured employees.
If you are a door and window contractor, it is very important to have Workers’ compensation insurance in order to protect your employees and business.
Common injuries and risks experienced by Door and Window Contractors employees?
Door and window employees can face some types of injuries and risks during
installation. Some of the injuries and risks are mentioned below:
– Falls from ladders or scaffolding
– Cuts from sharp tools
– Eyes Injuries
– Electrical Injuries
– Neck, Back and Shoulder Injuries
– Hearing Loss
– Sprains and strains
– Skin rashes
The consequences of not having workers' compensation Insurance for Door and Window Contractors
The consequences of not having workers’ compensation insurance for door and window contractors can be severe. It can be of both types, financially and legally.
Legally, as we mentioned earlier, In most states, it is a legal requirement for contractors to have workers’ compensation insurance. If they fail to provide, they can get results in the form of fines and penalties.
From a financial perspective, not having workers’ compensation insurance can be very expensive for contractors. If an employee suffers a work-related injury or illness and the contractors do not have insurance, they can be held personally liable for medical expenses and wage replacement.
There are benefits of workers' compensation insurance for Door and Window Contractors.
All companies are required by law to offer their employees workers’ compensation insurance, even if someone is hurt when they are working their first hour. Terrible injuries can occur even before someone has received all the necessary training on a piece of equipment. Employees who are hurt on their first day of work have the same protective rights as those who have worked there for years.
Serious penalties await employers who fail to provide workers’ compensation coverage for their workers. As a cost of doing business in the state, an employer must pay for workers’ compensation. Criminal prosecution, fines, and exorbitant legal fees could arise from not having workers’ compensation insurance.
In the following states, there is a possibility of going to jail:
Workers Compensation Benefits (Continued)
Workers’ compensation insurance provides important benefits for both contractors and employees. Here is how it can benefit them: Lost wages and medical expenses: Workers’ compensation insurance covers the medical expenses and lost wages of employees who are injured or become ill on the job.
Lawsuits: Insurance for workers’ compensation generally offers protection to contractors from lawsuits brought by injured employees. Most of the time, employees who take advantage of benefits from workers’ compensation lose the right to sue their contractor over negligence. This could assist window and door contractors in staying clear of costly legal cases.
Rehabilitation: In cases where an employee’s injury or illness requires rehabilitation to return to work, workers’ compensation insurance covers these costs. Death Expenses: If work-related injury or illness leads to an employee’s death, then workers’ compensation
insurance provides benefits to the dependents of the deceased.
Death Expenses: If work-related injury or illness leads to an employee’s death, then workers’ compensation insurance provides benefits to the dependents of the deceased.
Workers' Compensation Required Limits
The limits on a workers’ compensation insurance policy include employee benefits and employer liability. The employee benefits portion of the policy covers medical expenses, rehabilitation expenses, lost wages, and death benefits to the employee’s dependents. Employee benefits do not usually have limits or exclusions.
Employers’ liability limits are defined within each insurance policy. Business owners may choose to increase the limits for coverage. Each state sets the minimum required coverage limits. Legal, statutory liability limits in most states are:
– $100,000 per occurrence for bodily injuries
– $100,000 per employee for bodily injury by occupational disease
– $500,000 policy limit for bodily injuries by disease
At UnderWrite Insurance Services, we offer one million dollars insurance policies as well.
The Common Workers' Compensation Class Code(s) Used
A class code is assigned by the National Council of Compensation Insurance (NCCI) or by state agencies based on the activities of the occupation.
There are many different workers’ comp class codes for door and window installers. Below are the class code(s) used:
Code 5103: Door and Window Installers
Code 5102: Door And Window Installation–all Types–Residential and Commercial Class
How much do workers comp cost for Door and Window Contractors?
Insurance for window and door installers doesn’t need to be expensive. A typical general liability insurance policy provides coverage of $1 million per case and $2 million over the duration of the insurance policy. A small window and door installation business could pay between $45-$70 per month for this amount of protection. However, the cost for insurance coverage can vary based on:
● Size of Business
● Number Of Employees
● Yearly payrolls
● Claim history
In the end, it is very necessary to have Workers’ Compensation Insurance for Contractors. Hope this article, Workers Compensation Insurance for Door and Window Contractors, gives you the answer to your questions.
UnderWrite Insurance Services is a national insurance agency that provides A-rated workers’ compensation insurance to cover Door and Window installation employees. For a free insurance quote, submit an application below or give us a call at 201-580-6806.