Indianola Iowa Contractor Workers Compensation Insurance
Indianola Contractors! Workers Compensation Insurance can be purchased through Densmore Insurance Strategies, Inc. Having a workplace that is protected gives you extra security. As a Central Iowa employer, you have an obligation to ensure a safe workplace and the law requires a business to have Workers Compensation Insurance.
Iowa workers compensation insurance laws require most employers in this state to provide coverage against accidental injuries and illnesses that their workers may suffer on the job. It is against the law to deduct employee earnings to cover workers compensation premiums.
All employees must be covered with a few specific exceptions. These include:
- Domestic and casual employees earning less than $1,500 during the 12-month period prior to the injury.
- Agricultural employees working for an employer with a payroll of less than $2,500 during the 12-month period prior to the injury.
- Immediate family members of an employer in the agricultural industry.
- A company’s president, vice president, secretary, and treasurer and their immediate family members, not to exceed four officers per corporation.
- Police officers and firefighters who are covered under the Iowa pension fund.
- Sole proprietors and partners who are actively engaged in the business on a full-time basis.
- Members of an LLC
If you have questions about who you must cover and who is included in your list of exceptions, you can learn straight from the source Mark E. Densmore to receive guidance by discussing your situation.
The Basics of Workers Compensation Insurance in Indianola Iowa
What Is Covered?
Workers’ compensation insurance, or “workman’s comp,” as many people call it, is designed to cover medical treatment for injuries and illnesses suffered on the job. It also covers related expenses such as:
- Lost wages for employees who need to take time off to recuperate.
- Future medical costs for illnesses and injuries requiring long-term care.
- Disability and lost wages for significant injuries that render the employee unable to obtain future work.
- Additionally, if a worker is killed on the job, whether because of an accident, an act of violence, or a criminal act by a third-party, your Iowa workers compensation policy can pay out death benefits to the employee’s family or beneficiaries.
Insurance companies can deny coverage for workers’ compensation claims. Reasons for denials of coverage should be provided to employees in writing when they are hired. These reasons may include cases when the employee was acting under
the influence of drugs or alcohol; was committing a crime at the time the injury occurred; or if the employee’s injuries were willfully self-inflicted. When employee claims are denied, they have the right to challenge this decision by filing a contested case petition with the Iowa Workers Compensation Commissioner.
On our Blog page – you can find out more information about 2019 Work Comp Rates Continue to Decrease in Iowa
Densmore Insurance Strategies, Inc. understands the value of good employees. We know that your day-to-day operations depend on their hard work, expertise, and dedication, and if you supply them with quality benefits and plans, they can work with the peace of mind assurance that they are properly protected.
But should an accident happen, having the right Workers’ Compensation plan from Densmore Insurance Strategies, Inc. can allow your business to ensure payments and cover expenses if an employee is injured from a work-related accident. Injuries can range from car accidents and back injuries to equipment malfunctions and, in some unfortunate cases, death.
Workers Compensation can cover financial obligations such as:
- An injured employee’s medical expenses/treatment
- The replacement of lost wages from injury time off
If your business does not offer Workers Compensation, serious injuries that occur on the job could lead to an employee suing your company for damages. That is why it is important to discuss your options with a specialist at Densmore Insurance Strategies, Inc. who can help you find the right coverage options for all your business needs.
What Does Contractors Insurance in Indianola Cover?
- Commercial General Liability: Covers claims for injuries to other people
This liability insurance will protect you from most claims that would arise from the day to day activities. This includes the activity of running a business and the type of accidents that would occur at a job site.
- Inland Marine Insurance: – Tools and Equipment
Hand tools are normally covered on a blanket basis with no list or schedule. No item can exceed $500 in value. Equipment Insurance will protect your larger tools and equipment such as welders, generators, nail guns and other expensive portable equipment.
- Builders Risk: C.O.C (Course of Construction) – Physical damage insurance for property under construction. Lenders will require it before issuing construction financing. They will usually require this coverage before funding remodeling projects as well and some policies can be endorsed to include the structure being remodeled also.
- Workers Compensation Insurance: In most states and in some businesses, injured employees receive workers compensation insurance, no matter who was at fault for the injury. Contractors are responsible for providing this coverage for employees but may also have the exposure because of subcontractors who have not provided workers’ compensation insurance for their employees. This exposure can be avoided by insisting that subcontractors carry appropriate workers’ compensation insurance.
- Commercial Property Insurance: Covers loss or damage to your belongings due to fire, storms and other causes. Personal auto policies exclude autos used for Commercial and Business purposes and would therefore require coverage on a policy designed for such use. If you use your automobile in business, be sure you have the right policy and coverage is not excluded.
Get the Right Workers Compensation Coverage for your Business
- Pay for an injured employee’s medical treatment.
- Replace part of lost wages if a job-related injury requires time off work.
- Protect your business and assets.
The professional at Densmore Insurance Strategies, Inc. understands that you have several choices to purchase workers compensation insurance in Indianola Iowa. We review the impact & likelihood of your operational & strategic risks and offer recommendations that help maximize your success.
You can find our office in Bondurant, and our clients all around Central Iowa. As an independent insurance agency in Central Iowa, we take pride in reviewing your options with multiple insurance companies and comparing protection and prices to find the best value for your business.
We proudly serve the business members of the Ankeny, Des Moines, Altoona, Bondurant, Indianola, Urbandale marketplace, and we’re committed to being an advocate for you and your business in times of need. We are licensed to serve Iowa, Illinois, Nebraska, Florida, Missouri, Arizona, Texas, and Tennessee. Contact our office at 515.967.3390