Who has Worker's Comp?

[Jeff 232]

Comp is killing me i paid over 5K this month and I'll owe more at the end of the year. But its required on some of my jobs and I also use it as a selling tool

[Able Hands 14]

I guess, once again, I'm in with the ILLEGITIMATE crowd.

Currently, I do not have W/C. I hope some day soon that I reach the point where it becomes a necessity. As a sole proprietor, I am not required to have W/C. I suppose I could pay $800 for the W/C certificate that covers everyone except me… But WHY?

I fully understand the marketing aspect of W/C. However it is really expensive for a complete lack of real world value. I can sign a W/C waiver that accomplishes the same thing at no cost. If a home owner requires it, then I would be nervous going in and probably not take the work anyway. If a homeowner is going to be a stickler for W/C beyond a waiver, then I know they are going to be a pain in the A$$ during the job, and I don’t need the headache.

I’ve had two commercial relationships ask for it, but when they realized that I am a sole proprietor with zero employees they both offered their W/C waiver form.

If/when I have employees, I will have W/C in place before they go on the first job. But until then I see no reason. If a potential high dollar commercial account wants it then I’ll have to evaluate the ROI.

Matt

[Don M. 14]

When I called several temp agencies here in town they told me they dont allow their workers to get more than 3 feet off the ground. Does any of your temp agencies do that too?

[Electro 14]

As a sole pro. you would not be covered by your WC policy. But as a S corp. or LLC you would. Compare the cost of WC to a disability policy. I look at this way, expensive maybe, don't look at it as taking 900.00 or whatever the amount lump some would be. What does it cost you an hour for that protection. If your policy was $ 2000.00 that would be about a $ 1.00 an hour. Would you lose any clients if you raised your price $ 8.00 per day?

We had a member of our local trade chapter sue a client because he got hurt at their home and he had no insurance. How does that make our trade look?

People complain when government agencies policy an industry. Proper insurance is part of the cost of doing business.

Electro

http://www.yourcostcenter.com

[Jeff 232]

As a sole pro. you would not be covered by your WC policy. But as a S corp. or LLC you would. Compare the cost of WC to a disability policy. I look at this way, expensive maybe, don't look at it as taking 900.00 or whatever the amount lump some would be. What does it cost you an hour for that protection. If your policy was $ 2000.00 that would be about a $ 1.00 an hour. Would you lose any clients if you raised your price $ 8.00 per day?

We had a member of our local trade chapter sue a client because he got hurt at their home and he had no insurance. How does that make our trade look?

People complain when government agencies policy an industry. Proper insurance is part of the cost of doing business.

Electro

http://www.yourcostcenter.com

Electro,

Just because your an S Corp doesnt mean you automatically covered under WC. Im S corp and I'm not covered. Its alot of extra $$$$ to get coverage for me ALOT!!!!

JL

[Electro 14]

JL

Here in NJ as an S Corp. you are covered under WC. You must wisely choose what classification you are listed as. If you list yourself as one who actually does the work at let's say $ 13.00 per hundred, that would be about $ 3.70 per hour. If you list yourself as sales it would equate to about $ .17 per hour.

Of course every state is a little different. Also speak to your accountant regarding what you draw as salary vesus owners withdrawal. It makes a difference for WC.

Electro

[Barry M 73]

I talked to the PM that required I have WC before starting the work, but he wasn't aware that I was a one man operation. So he said it's fine as long as I have the certificate of clearance thru the state, no problem. I can even hire a temp helper and still not need WC. I don't see the sense in paying for something you don't need. The PM is cool with it, I'm within the law, so until I have to have it, no thanks.

While we're on the topic of insurance, I just got my GL ins bill today and noticed it went up a little. So I started looking at it and I see there is a new catagory called Terrorism Risk Insurance Act + $10. See they get my money one way or another anyway!

[Rfitz 14]

I have recieved estimates on it, but so far I am getting Jacked, I pay monthly and it is REALLY expensive, over $250 a month for each employee, and frankly the customer doesnt look at it as peace of mind because it cost him money, and though it seems today everyone is looking for the cheapest price in town, on everything, Walmart Mentality, not realizing until it is too late you get exactly what you pay for, there is a small % that do expect and will pay for quality and professionalism but a very small %, it all comes down to the bottom line for most, so unfortunately I have to offer their service as well as an option so as to not to lose work, basically splash and dash if that is all they will pay for.. I know it sucks, but I have too eat too..

[safetouch 14]

Yea it's a crime to pay all that money but it just that fact of life, like Death and Taxes, we live with it, I can be exempt all day long but the unfortuanate reality is without I cant get th big contracts. The true solution would be if voters were to pay attention to what our leaders are doing to small business. We are the sreators of this nightmare, but as a large part most are concerned with who got voted off of American Idol or where Brad Pitt is. If Workmans Comp was unregulated and a competitive market industry, we would have drive thru , you probly would get asked questions like - "would you like to upsize that with 2 mil in libility sir" No I want the happy mea from asking please....lol anyway we have got away from paying atention to our elected leader, they sure dont have my intrests at heart, so here I am calling them out... Sorry to blab thats about the nuts and bolts of it all... LOL so anyone know how I can get cheap Workmans comp coverage in Florida?????? Please tell me Im all ears..........

[David O'Connell Jr. 14]

We are exempt here.

[Thad 135]

We are exempt here.

I thought that everybody in FL had to have it.

What did I miss?

[CCPC 26]

I thought that everybody in FL had to have it.

What did I miss?

No. Only if you are Inc. or a LLC, up to three owners who own at least 10% of the business are eligible for an exemption.

[Jim Carroll 14]

One of my comercial accounts has asked me to start caring it. So I prob. will got a quote the other day for $900 are there any "special" things I should be looking for?

That is about what I pay, with no employees, however, after my annual audit I get back around $475.00

[Jeff 232]

JL

Here in NJ as an S Corp. you are covered under WC. You must wisely choose what classification you are listed as. If you list yourself as one who actually does the work at let's say $ 13.00 per hundred, that would be about $ 3.70 per hour. If you list yourself as sales it would equate to about $ .17 per hour.

Of course every state is a little different. Also speak to your accountant regarding what you draw as salary vesus owners withdrawal. It makes a difference for WC.

Electro

I am a worker on the jobs and as S Corp am not covered. I got a quote to have me put on comp coverage, with the payroll I do Id have to pay over $4600 just to cover me.

As I was told insurers dont want to cover the owner or Prez, they think you'll use it as a health plan, fraud! say you get hurt on the job even if you werent

JL

[Ron Musgraves 240]

I have not read all the posts, don’t have time.

Even if I lived in a state and I do, if you’re self employed you’re not required to have workers comp for yourself.

I'm here to tell you that I would not except a wavier: I would ask you to get WC. If you told me I’m exempt and I won’t get it, even if the law said you didn’t need it I would either let you go or never hire you.

Believe me I have been told my price was more than acme but I have all the insurance and they refused to get it. ( I got the work) numerous times.

Get it, it’s not that big of a deal…………..

[Ron Musgraves 240]

Good topic, can't and dont want to believe some of these answers.

You guys complain about fly by nite people and maybe half the BBS is.

another observation, two nicknames in 1 and 2 only has two full names.

I cant accept not having what you need, reguardless of the rules.

some may take this as and attack, Dont, I thought the same way when i started. I'm doing those a favor that want to make more money. your being discriminated agaist and dont know it.

[Ron Musgraves 240]

As I was told insurers dont want to cover the owner or Prez, they think you'll use it as a health plan, fraud! say you get hurt on the job even if you werent

my does, but maybe you pay for something that doesnt. that does not sound right, maybe i miss understood.

If i fall down or get hurt, i'm covered.

[PWkid 79]

I agree Ron, I carry workers comp and have for a long time.It cost me $ 7000.00 a yr for me and my employee. Most credible GC's or Property managers in my area won't except " I am exempt" in my area. Carrying workers comp seperates me from other Pwer's in my area.

[Don Phelps 85]

For those that don't know, there's a state site to go to to see who has coverage and who doesn't. There's a lot out there that say they do when they don't. Sooner or later they have to figure out that honesty is the best policy.

[David O'Connell Jr. 14]

I was told that as pressure washers we fall into 3 categories:

Ground work at about 12 dollars per hundred

Building/wall work at about 23 dollars per hundred &

Roof work at about 35 dollars per hundred

So that means a lot of bookkeeping for what percentage of what job fell into what category.

If you do a roof, the walls, and the driveway you get to pay a part of all the categories.

What fun…..

[Ron Musgraves 240]

David, I realize that its expensive in your state. thats silly numbers, 35% of payroll. WOW!!!!!!!

I think i would still have it. I do see why its hard decsion.

that roof stuff pays well, I hear guys clearing 15 20 k per job?

[PWkid 79]

http://www.fldfs.com/WCAPPS/Compliance_POC/wScripts/Employer.asp?EmpID=%20E00710309

I agree honesty is the best policy thats why I choose to be honest.

[Rfitz 14]

The way I see it now is a win win situation for you the biz owner and the company you might do work for, basically, you have 2 options, either take it away from your workers hourly pay, (which is what I will do ) or add it on to each job which in most cases wont work, because most if not all customers are looking for the highest level of quality work at the absolute cheapest price in town, most customers of mine at least if they new my hourly rate would puke, $175 and up. although they dont see all the hidden cost of a small business owner, and most wouldnt believe you even if you showed them all your overhead cost, they would still believe you pocket / profit every penny of every hour you work / bill / charge etc.. and if were really really lucky we might net 40% of gross sales at the end of the year, and even that is a stretch, unfortunately you have to keep a microscope on each worker on each job, that is why it is hard to get big in this business, it is not easily duplicateable.. I find I have to be at almost every job, or something somewhere will fet Fuc$#@!&* up... almost always

[Mike Williamson 198]

I'm familiar with the legalities you address. For example, our company is not legally required to have W/C. Also true is that most P/W companies with which we compete are similarly not required to posses W/C.

However, in the scheme of legitimacy, marketing, and overall business management I stand by my statement.. There is no reason why a LEGITIMATE business would operate without it. I see that Jim seems to agree as well...

We carry W/C even though state insurance law precludes us from benefitting from it as we are the owners of the Co.. Why do we spend the money?? Aside from the simple fact that many of our commercial accounts require it, we also use W/C as a powerful marketing tool. If I'm required to own it, why not profit from it ??

So what you're saying is that in order to be legitimate, you must buy insurance that won't benefit you or the customer one bit?

Not only that, you are saying that since you must buy this insurance that you aren't required to have, don't need, and can't benefit from, simply to be legitimate, then you'll mislead the customer into thinking that as the business owner, you will be barred from suing them for an injury that occured on their property, simply because you purchased insurance that you can't benefit from?

Very strange.

[Mike Williamson 198]

For those that don't know, there's a state site to go to to see who has coverage and who doesn't. There's a lot out there that say they do when they don't. Sooner or later they have to figure out that honesty is the best policy.

Hey, Don! Why is your exemption certificate listed as non-construction? Pressure washing is a construction related industry, per the folks who determine such! That's why so many of us had to incorporate 2 1/2 years ago!

Do you have a policy listed under a different name, or is it just the exemption cert?