I am the owner of a small private practice in psychology and am hiring on some independent contractors in order to secure a local government contract, which will require me to have worker's comp insurance. I have no idea where to even start or what to get or who is best to buy it from. Any thoughts?
I am the owner of a small private practice in psychology and am hiring on some independent contractors in order to secure a local government contract, which will require me to have worker's comp insurance. I have no idea where to even start or what to get or who is best to buy it from. Any thoughts?
You can get quote from any agent that write workers compensation insurance in your state. You will need to provide your SIC Code that designates the type of industry you are in. Some companies will not write coverage if you are a sole proprietor, however some will. Also, rates will vary by insurance company. When you get with an agent they will gather all the necessary information to work up a quote for you. As you hire employees you will have to report their wages since rates are based on job classification and wages. You will have to report wages for all employees employed, you can only exclude yourself as the owner. Do you require your independent contracts to also carry workers compensation coverage?
Debbie C.