Rfitz 14 Report post Posted July 27, 2006 Do all biz owners need it YES For Sure, unfortunately in this line of work you cant have it and be compmetetitive, just the facts, people do not care if you have it and will not pay the extra for carrying, sorry if I busted anyones bubble just the facts mam..??? Share this post Link to post Share on other sites
Celeste 341 Report post Posted July 27, 2006 Do all biz owners need it YES For Sure, unfortunately in this line of work you cant have it and be compmetetitive, just the facts, people do not care if you have it and will not pay the extra for carrying, sorry if I busted anyones bubble just the facts mam..??? Hope your bubble isn't going to get busted on this one, but we are educating our customers every time we speak to them that they SHOULD look for and expect certificates for BOTH WC and GL. We have both, we are competitive and people WILL and DO pay us more because of what we provide (which mean superior work, quality products as well as protection for them). But then again, I also consider part of being competitive to also include allowing us to pick and choose our customers just as they are picking and choosing us. Further, there are companies out there (not resi work) that won't even let you on their job site without it. How can you compete if you DON'T carry it? Celeste Share this post Link to post Share on other sites
cdposey26 14 Report post Posted July 27, 2006 I agree Celeste. We are constantly educating our residential customers. I think rfitz is off by saying you can not pay for WC and be competitive. True a lot of residential do not know or care, most commercial accounts we have care and the WC has easily been worth the $5000 a year we pay. Share this post Link to post Share on other sites
Work2Fish 14 Report post Posted July 27, 2006 I have an exemption and i go solo. Share this post Link to post Share on other sites
FCPWLLC 233 Report post Posted July 27, 2006 We pay it, but it causes us to lose bids. I currently do no work for any Builders because I have the added expense. They want you to have it but don't want to pay the prices so they usually hire the guy that signs the exemption and works for beer money. I'd say that I lose alot of other bids because I have to charge more. I am not covered or protected by the WC so I will not cut into my profit to foot the bill; I pass the cost on to the people that it supposedly covers... The customers. Someone here said that not having WC is a disadvantage but in some senses, HAVING the WC has put us at a disadvantage trying to bid competitively with guys without it. Also it takes away funds that would be better spent on marketing. Share this post Link to post Share on other sites
Mike Williamson 198 Report post Posted July 27, 2006 They want you to have it but don't want to pay the prices so they usually hire the guy that signs the exemption and works for beer money. Yep, you know how us exempt, beer money guys are! Share this post Link to post Share on other sites
Electro 14 Report post Posted December 9, 2006 In this day and age of law suit crazy people, if you have even 1 employee you would be crazy not to carry WC. You are putting your family's lifestyle at risk. I understand when you look at this large premium and prices are already tight how you base your decision on risk. Let me offer this thought. Break all your expenses down to the working hour. I have posted a shot of what an average employees costs exclusive of overhead. Do this for your company and then base some of your financial decisions on an educated basis. Decide if it is worth raising your price $. 50 to $ 2.00 per hour. http://forums.thegrimescene.com/attachment.php?attachmentid=6382&stc=1&d=1165671687 Brian http://www.yourcostcenter.com Share this post Link to post Share on other sites
whytewash 14 Report post Posted December 9, 2006 I do not have it and will not get it as long as I am the sole employee. I can not sue myself and am not sure how I would make a claim against my corporation. What I do have is an exemption for from Florida that I had to PAY for even though I could not possibly benefit from WC. I have had one client ask for proof of WC and that is why I applied for the exemption. I am also insured but as I understand it that does not absolve the home owner nor business of liability if I am injured on their property. I never realized this as a home owner but that is what I understand from my insurance agent. If I am in the dark regarding the WC issue for an owner/operator with an S-Corp I am open for suggestions. joe Share this post Link to post Share on other sites
tunatussle 14 Report post Posted November 26, 2007 Only been asked one time by a large corp and proved to them that I did not need it per law in PA. At first they threatened to withhold WC from my invoice until I forwarded a letter from my lawyer(son) who set them straight. Work alone and no employees. Share this post Link to post Share on other sites
Doug Dahlke 114 Report post Posted November 27, 2007 I have no employees but still carry a WC ghost policy. It will cover temporary employees that I sometimes use. Share this post Link to post Share on other sites
Jeff 232 Report post Posted January 31, 2009 Man I just got my renewal for WC $16K, just part of doing biz. I just hate that some of my competition plays the system, they either hire under the table or they list employees as subs and they pay for their ghost policy. Theres so many ways to get around the cost of WC for contractors that dont mind taking risk. Just isnt fair or right, if you are going to do biz, do it the legal & right way. All contractors insurance cost are effectted by those who play the system They dont know when someone get hurt bad working for them it can cost them their biz. You dont think if someone gets hurt bad working for them and they have no insurance, who do they think they are going to sue when they have no money...the contractor who's been paying them & playing the system. Lawyers and insurance companies will see right through the cheating scam Like I said WC is just part of doing business, just like putting gas in the truck. Share this post Link to post Share on other sites
RMedbery 26 Report post Posted January 31, 2009 Holy cow, just some quick math using the rates I pay puts your payroll at almost half a million. You must be bigtime, or paying too much...one. Share this post Link to post Share on other sites
Doug Dahlke 114 Report post Posted January 31, 2009 One of the PM companies I work for won't let you even bid work without verification of WC coverage. This year I picked up a few more properties from them that are not near a large city where the local guys won't pay to have the coverage. More work for me. If I can get some additional contracts on properties along the way it could start to pay off big. If you have any plans to do commercial you need the policy. Share this post Link to post Share on other sites
centexpw 16 Report post Posted February 1, 2009 Having Employees w/o WC is foolish. Having WC has put $$ in my pocket. It has given me the edge to bid jobs and win bids. If some hack bid against me and wins and they dont have WC, or lie that they do. I squeal until they get proper coverage or drop out. Gotta make the playing field level. Share this post Link to post Share on other sites
Greg R 82 Report post Posted February 1, 2009 (edited) Yep... and I wouldn't work without it. Too many people out there looking for a winning lottery ticket. If your solo your not required to in Indiana but if you have employees your risking everything you've worked for by not having it. Edited April 22, 2009 by Greg R Share this post Link to post Share on other sites
ScottD. 14 Report post Posted April 21, 2009 Yep we have it. It has allowed us to bid (and win) large jobs that required it. It is not required in Texas, but before we got it, we did lose a few bids specifically because our competitors had it and we didnt. Share this post Link to post Share on other sites
David O'Connell Jr. 14 Report post Posted April 22, 2009 We were exempt, and now we carry it. Share this post Link to post Share on other sites
topcoat 14 Report post Posted December 11, 2009 Yup. Well, my employees do anyway. Share this post Link to post Share on other sites
Russ Spence 76 Report post Posted December 11, 2009 we are covered in 13 states Share this post Link to post Share on other sites
tonyshelton 112 Report post Posted December 11, 2009 we are covered in 13 states We got that same coverage. We're only covered in four- the states of: Confusion Intoxication Inebriation Altered Consciousness Share this post Link to post Share on other sites
Russ Spence 76 Report post Posted December 11, 2009 We got that same coverage. We're only covered in four- the states of:Confusion Intoxication Inebriation Altered Consciousness thats a few of them! Cant believe we have not crossed paths! Share this post Link to post Share on other sites
Russ Spence 76 Report post Posted January 26, 2010 (edited) We just got our renewal and I had to get help getting off the floor! Edited May 10, 2010 by Russ Spence Share this post Link to post Share on other sites
tonyshelton 112 Report post Posted January 26, 2010 How about those 30 customer letters that come in asking for proof of insurance a month before it's due!!! Aaaaargh! Paper pushers have too much time on their hands. Share this post Link to post Share on other sites
Danny Bates 14 Report post Posted February 17, 2010 I'm getting quotes right now and HOLY CRAP what are these peope smokin??? But I've got 2 big accounts i'm probably gonna land that require it so i'm gonna bit the bullet and get it. Share this post Link to post Share on other sites
Jim Gamble 20 Report post Posted April 24, 2010 We have had Workers Comp going on 19 years now. Never 1 claim. Our policy is lower then 15 years ago. Share this post Link to post Share on other sites
