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  #11  
Old 08-20-2012, 09:27 PM
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cutman2000 cutman2000 is offline
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Quote:
Originally Posted by cgaengineer View Post
General liability does not cover injuries to employees.
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Would getting workers comp be economically worth it for a part time employee?
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  #12  
Old 08-20-2012, 09:27 PM
nepatsfan nepatsfan is offline
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Originally Posted by cutman2000 View Post
Then why are they telling me that It's(workers comp) not needed unless I have 4 or more employees?
I do have general liability. I know it covers damage or job site accidents, will it cover employee accidents and injuries?
Just because it isn't the law in your state doesn't make it a smart thing to do. According to you, you don't need it in your state but that doesn't make it a good idea.

General liability should cover your employees job site accidents to property damage etc. It will not cover your employees injuries. If your employees ever had an injury they would sue you. Just because you are not required to have workers comp doesn't mean you wont be held liable for their injuries. You aren't required to have the insurance, but you will be held responsible to pay for the employees medical bills, lost wages etc. If that's a risk worth taking for you to save a few bucks, go for it. I wouldn't do it.
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  #13  
Old 08-20-2012, 10:56 PM
LwnmwrMan22 LwnmwrMan22 is offline
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Quote:
Originally Posted by cutman2000 View Post
Would getting workers comp be economically worth it for a part time employee?
Work Comp rates are based on payroll paid.

My rate is $3.86 / $100.

That means that for every $100 in payroll, I am charge $3.86 for Work Comp.

It does not matter if the employee is part time, full time, some time, all the time.

It DOES matter if the employee is paid $10 / hour vs $14 per hour, as I will get to $100 faster paying $14 / hour than $10 / hour.

It's cheap insurance.

2 winters ago I had a 4 year employee cut 1/2 of his pinky off in my log splitter, splitting wood for me.

He and I both filled out paperwork, work comp paid all of the bills, unemployment insurance paid for part of his time off.
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  #14  
Old 08-20-2012, 11:13 PM
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cutman2000 cutman2000 is offline
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Quote:
Originally Posted by LwnmwrMan22 View Post
Work Comp rates are based on payroll paid.

My rate is $3.86 / $100.

That means that for every $100 in payroll, I am charge $3.86 for Work Comp.

It does not matter if the employee is part time, full time, some time, all the time.

It DOES matter if the employee is paid $10 / hour vs $14 per hour, as I will get to $100 faster paying $14 / hour than $10 / hour.

It's cheap insurance.

2 winters ago I had a 4 year employee cut 1/2 of his pinky off in my log splitter, splitting wood for me.

He and I both filled out paperwork, work comp paid all of the bills, unemployment insurance paid for part of his time off.
So workers comp is not expensive at all? How is it paid, monthly, quarterly, etc?

The unemployment insurance, is that something I have to pay along with workers comp?
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  #15  
Old 08-20-2012, 11:51 PM
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spazfam spazfam is offline
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The rate for workman's comp depends on a lot of factors such as state you do business in, years of experience in field and in business. WI is a min $900.00 a yr or 9.68/100.00.
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  #16  
Old 08-21-2012, 07:33 AM
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cutman2000 cutman2000 is offline
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Originally Posted by spazfam View Post
The rate for workman's comp depends on a lot of factors such as state you do business in, years of experience in field and in business. WI is a min $900.00 a yr or 9.68/100.00.
So I just look for a company online or local?
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  #17  
Old 08-21-2012, 07:37 AM
Duekster Duekster is offline
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Quote:
Originally Posted by cgaengineer View Post
My company, a partner and I...the two of us do not have WC, but our employee does. As an owner you are not required.
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I do not think Owners are covered by Comp even if you wanted it.

To the OP. I tend to agree just because you are not required to carry comp, to does not mean you are not responsible for employee welfare. Look at the OSHA laws.
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  #18  
Old 08-21-2012, 08:29 AM
LwnmwrMan22 LwnmwrMan22 is offline
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Quote:
Originally Posted by cutman2000 View Post
So workers comp is not expensive at all? How is it paid, monthly, quarterly, etc?

The unemployment insurance, is that something I have to pay along with workers comp?
Read my post in your other thread under business management. You may understand more about my Quickbooks reasoning.

Unemployment insurance SHOULD be paid with whoever does your payroll taxes.

U.I. is "cheaper" than work comp, but if you lay your guys off for the winter, and they claim unemployment insurance, your rates will increase quickly.

Work comp rates vary GREATLY between insurance companies.

Even with my current work comp through Hartford, the fact that I run it through Quickbooks, I received a cheaper rate per hundred than my insurance agent could get me with Hartford.

The Quickbooks work comp was 1/2 of what I was paying previously.
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  #19  
Old 08-21-2012, 08:30 AM
LwnmwrMan22 LwnmwrMan22 is offline
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Quote:
Originally Posted by Duekster View Post
I do not think Owners are covered by Comp even if you wanted it.

To the OP. I tend to agree just because you are not required to carry comp, to does not mean you are not responsible for employee welfare. Look at the OSHA laws.
You can cover yourself with work comp in MN as an owner.
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  #20  
Old 08-21-2012, 08:34 AM
Duekster Duekster is offline
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Quote:
Originally Posted by LwnmwrMan22 View Post
Read my post in your other thread under business management. You may understand more about my Quickbooks reasoning.

Unemployment insurance SHOULD be paid with whoever does your payroll taxes.

U.I. is "cheaper" than work comp, but if you lay your guys off for the winter, and they claim unemployment insurance, your rates will increase quickly.

Work comp rates vary GREATLY between insurance companies.

Even with my current work comp through Hartford, the fact that I run it through Quickbooks, I received a cheaper rate per hundred than my insurance agent could get me with Hartford.

The Quickbooks work comp was 1/2 of what I was paying previously.
I found the Hartford rate good through QB too but not overly greater than I got independently. I decided to stay with my agent and bundle my GL / WC for a better overall rate.
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