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Does Workers Comp cover

Discussion in 'Business Operations' started by THill3, Aug 18, 2005.

  1. THill3

    THill3 LawnSite Member
    Messages: 60

    Not sure and havn't even looked at my policy since I got it but does workers comp cover the owner of the company?
  2. brinlee lawn

    brinlee lawn LawnSite Senior Member
    Messages: 273

    Depends on how you set it up. It costs more to cover yourself.
  3. rodfather

    rodfather LawnSite Fanatic
    Messages: 9,501

    Normally it doesn't.
  4. alwaysgreener

    alwaysgreener LawnSite Member
    Messages: 52

    As the business owner/employer, you'll pay Workers Comp premiums based on a rated percentage of your payroll. Your rating will change once a year, depending on a combination of: (1) the loss experience of your business (“experience rating”) — the higher your losses, the higher your premiums; and (2) your loss experience compared with that of other employers in the same business (“experience modification”). This rating system gives businesses a powerful financial incentive to curb work-based risk exposures through comprehensive safety regulations and programs.
  5. alwaysgreener

    alwaysgreener LawnSite Member
    Messages: 52

    Oh Yea and by the way workers Comp does not cover you as an employer, you should look into special “Occupational Disability Income” insurance that will reimburse you for illnesses and injuries incurred around the clock. but you should check it out in your area.
  6. ProLawns

    ProLawns LawnSite Senior Member
    Messages: 476

    If you're incorporated and you draw a salary as an employee I believe it does.
  7. burroughslawnservice

    burroughslawnservice LawnSite Member
    Messages: 26

    I was unable to send you a private message PROLAWNS. Would you be interested in a residential account located at HWY 13 and Pleasure House Road? My wifes coworker needs a reliable person. Call me 757-277-2074. :blob3:
  8. farmerphilco

    farmerphilco LawnSite Member
    Messages: 56

    Owners, partners, and officers are automatically exempt from work comp. you must apply for work comp.
  9. mbella

    mbella LawnSite Bronze Member
    Messages: 1,284

    Yes it does. However, you may elect out. In my case, it saves me 10% of my salary each year.
  10. farmerphilco

    farmerphilco LawnSite Member
    Messages: 56

    you are automatically exempt, you must elect to be covered by work comp

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