Hands on it !

By: Helpico Insurance Agency  11/11/2014
Keywords: Workers Compensation Insurance

Summer is an extremely busy season for Helpico Insurance Agency’s Remodeling and Construction Contractors’ clientele. They work extended hours, sometimes sacrificing their weekends, but how many of them know that there is no worker’s compensation charge on the overtime pay? When winter is approaching and their projects slow down, they often have idle time which they pay to the employees, but how many of them know that it is also excluded from the workers compensation payroll amount? Many professions have these specific details in their class codes and not just the employers, but very often the agents, also don’t know about them. Based on insurance complications and lawsuits complications, this information is very much off the map for most involved sites. At Helpico, they try to stay tuned to details and help very small contractors to avoid overcharges when audited by the insurance companies. They take care of very small and small size accounts ($1,000 to $100,000 in payroll). Commissions on this insurance product are very low and retention is the strong reason behind their efforts. “Workers compensation is like another language for contractor-employers. They are busy at audit time and realize their loss when the bill comes in the mail,” shares an agent from Helpico. She also said that rates are unreasonable, and too high for most contractors’ work classes. The load has to be spread over other professions, if contractors are to be able to pay coverage, or they have to have the option to opt out legally, as truckers do. There is logic in her words and even untrained eye could see that contractors’ jobs are less risky than those of truck drivers.

Keywords: Workers Compensation Insurance

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