bad form, trevor…. you started a whole new thread instead of responding to your original one..
it screws up the flow of information.. we’re here to learn as much as you
if it were my thread , i’d delete this one and respond to your original one..
but, that’s just me
Mike Smith Rhode Island : Design / Build / Repair / Restore
Replies
TP,
Sole proprietors, with no other employees usually aren't required to have Workmans Comp. You may even have trouble getting a policy.
You may be covered by the GC's policy, but as a GC, I don't hire too many subs without WC. Reason being, when I'm audited, my premium is increased to cover them. Comp is usually based on a rate per hundred dollars payroll. Rates will vary greatly by your location. I pay between $13-15/100, in MI & Wi. Being a trim sub, may lower your costs,as you aren't likely to be on a roof, etc.
I have comp, and no other employees. But I am incorporated, and pay monthly on an estimated premium. That premium is based on the payroll of having two employees. Basically I pay double my actual rate. Then after my audit, they refund the extra amount I've paid during the year. So in essence, I loan the insurance company a couple grand a year, just to get the comp.
Comp is usually beter coverage than, a disability income policy. Which, as a sole prop, would be an option for you, just to have some safety net. The disability policies are realy cheap, but you get what you pay for. Limited benefits, and at times a wait, before they will pay.
This is about my knowledge on the subject. A call to an agent would be advisable. THey will know the ins and outs for your situation, and locale. Good luck.
Brudoggie
Basically I pay double my actual rate. Then after my audit, they refund the extra amount I've paid during the year. So in essence, I loan the insurance company a couple grand a year, just to get the comp.
That's my favorite part.
Would any other service provider get away with that??
EricI Love A Hand That Meets My Own,
With A Hold That Causes Some Sensation.
I have an interest in this thread, thought about starting a new one.
But if anyone can answer your questions with authority and validity, it will save me from doing so.
In NY State it is quickly becoming a requirement that even a sole proprietor carry WC, even though the law still states that it is not necessary. You don't have a lot of choice. I'm not sure who a policy will cover, especially a minimum type of policy.
The NYS scaffold law is reeking havoc on all insurance premiums through out the state, in particular WC. You may wish to contact your local represantative in Albany to see what he has done to fix this problem. Likely not much, as the insurance companies are one of the biggest lobbyists in Albany.
BUT, I digress!
If a second pair of hands are needed I either pay cash or have the homeowner hire the sub (ie electrical/plumber).
I can no longer purchase even GL if I am hiring subs. I must have WC, EVEN though the subs have it already. The reason...........they might be lying!!!
Having the HO hire the subs is one way around it, but you're (we) are gonna get our collective azzes reamed out here!
You have to raise your rates, suck the big lemon, and pay all those policies so the the Ins. Co.s can keep they're warm little friends in office in Albany. You have to work harder at selling your rates, because they are higher than alot of the other contractors. Heck, some one here suggested that less than 1/3 of all people in the trades are covered by WC.
It's a tough uphill climb from where I am!
I'd like to here what some of the sharp pencils have to add to this.
Yeah, I know, the attitude; I was born with this inate sense of fairness and justice............
Eric
I Love A Hand That Meets My Own,
With A Hold That Causes Some Sensation.
will you guys stop ?
you're restarting this whole conversation in mid - thread ?
there's another one going with 16 responses to it .... sheeesh Mike Smith Rhode Island : Design / Build / Repair / Restore
what just happened?I Love A Hand That Meets My Own,
With A Hold That Causes Some Sensation.
tpcarp .. started a whole new thread instead of responding to the one he started..
now you guys are starting the whole thing over instead of adding to the knowledge base
here's the original one..
http://forums.taunton.com/tp-breaktime/messages?msg=53115.1Mike Smith Rhode Island : Design / Build / Repair / Restore
I'm so stooopid.............I thought we WERE in the other thread.
So what, yoo gonna quit on us now??
This is the new WC thread, a continuation of the old one.
Ya want me to go back and post a link?
EricI Love A Hand That Meets My Own,
With A Hold That Causes Some Sensation.
Mike,
Sorry, when I posted my reply, the other thread wasn't showing. Might as well steal this one for a minute. I dense packed my first cathedral ceiling recently, thanks to your posts. LOVE IT!!! Brudoggie
yeah that was my post as well......still figuring out the system
TP Carp
so ... delete this thread... you're the only one who can do it !Mike Smith Rhode Island : Design / Build / Repair / Restore
How?
?????????????????/
C'mon Mike, his post is right on the topic.
Guess that's just me!
Eric
I Love A Hand That Meets My Own,
With A Hold That Causes Some Sensation.