Workers’ Comp Insurance for Drywall Companies in Georgia
As many employers know, Workers’ Compensation is typically required in Georgia. Beyond knowing that you need coverage, you might have additional questions about how Workers’ Compensation works for drywall companies.
Workers’ Compensation mandates for drywall companies in Georgia are not always cut and dry, so employers may have questions. In all likelihood, your drywall installation company will need Workers’ Compensation. You can get coverage by consulting our brokers and getting a quote. There is no grace period for Workers’ Compensation in Georgia, meaning your company will need it immediately if it employs upwards of two employees. The cost of insurance varies, depending on each drywall company’s history of workplace accidents. If your company does not have insurance, it might find itself facing many consequences from the State Board of Workers’ Compensation as well as responsibility for compensating an injured worker for their lost wages and medical expenses.
To learn how NPN Brokers can find coverage for your drywall company, call Georgia Workers’ Compensation insurance brokers at (866) 340-9120.
Frequently Asked Questions About Workers’ Comp Insurance for Georgia Drywall Companies
Like most businesses in Georgia, drywall companies typically need Workers’ Compensation coverage. Whether or not it needs insurance is not the only question your drywall company might have about the Workers’ Compensation system in Georgia. Thoroughly understanding your company’s coverage requirements is important so that no rules are broke and so that your business is protected.
Which Companies Need Insurance?
Workers’ Compensation is mandatory for any business that has more than two workers in Georgia, including drywall installation companies. If your company is an LLC or a corporation, officers or members may be eligible to file for an exemption from insurance. If you employ independent contractors, they will not need to be included in your drywall company’s plan. Any regular employees, including full-time, part-time, or seasonal employees, must be included in your drywall company’s information for Workers’ Compensation in Georgia.
How Can Companies Get Insurance?
Drywall companies can begin the process of getting insurance by gathering information about their business and sending those details to our Workers’ Compensation insurance brokers. Based on the information you provide, our brokers can get a quote for your drywall company within a day. You can then review policies and quotes so that you can find the best Workers’ Compensation plan for your company and its employees. Once you sign onto a policy, you may need to send proof of coverage to the Georgia State Board of Workers’ Compensation.
Is There a Grace Period for Insurance?
Georgia does not provide a grace period for drywall companies when seeking Workers’ Compensation. This means your company cannot be uncovered for any period of time and also be immune from civil or criminal consequences. There are two main situations where drywall companies might be temporarily without insurance. The first is if a company was just recently formulated. The second is if a drywall company’s policy was dropped and it needs to find new coverage. When a Workers’ Compensation policy is canceled, a carrier will give a company fair warning. Before your coverage stops for good, our brokers can find you a suitable policy to replace your previous one so that your drywall company is never without an active Workers’ Compensation plan in Georgia.
How Much Does Insurance Cost?
The price of Workers’ Compensation generally increases as the risk of workplace accidents does. Drywall installation is moderately dangerous, as installers are typically tasked with carrying heavy materials and using hazardous machinery. According to the U.S. Bureau of Labor Statistics, there were a total of 35 fatal drywall and insulation installation accidents throughout the entire industry in 2019. Non-fatal injuries sustained by drywall installers include repetitive motion injuries, fall injuries, lacerations, cuts, and broken bones. Improper ventilation might cause drywall installers to inhale toxic materials or dust, resulting in lung and breathing issues. Because of the risks associated with drywall installation, Workers’ Compensation premiums might start on the higher side. However, companies can limit the cost of premiums by working hard to train drywall installers and lowering the number of accidents among workers in Georgia.
What if a Worker Files a Claim?
If one of your employees is injured while working for your drywall company in Georgia, they can file a claim with your Workers’ Compensation carrier. While your carrier might ask you to interview other employees or review security camera information to gain greater insight into the cause of a worker’s injuries, your insurer should handle the majority of the responsibilities regarding processing claims. This means you can focus on your company’s success without worrying about what happens with an employee’s Workers’ Compensation claim.
What if Companies Do Not Have Insurance?
Several things might happen if you do not get Workers’ Compensation for your drywall installation company in Georgia. The first is consequences from the State Board of Workers’ Compensation. The Board of Workers’ Compensation levies fines against companies that fail to comply with insurance requirements. Fines can add up to $5,000 or $10,000, depending on the violation in question. Up to a year in jail is also a possible punishment against owners of drywall installation companies that do not maintain Workers’ Compensation in Georgia. Fines can be imposed with each violation of Georgia’s Workers’ Compensation code.
In addition to civil and criminal penalties, drywall installation companies can be held liable for damages incurred by a worker if they fail to have Workers’ Compensation in Georgia. So, any damages that would have been available to an employee through Workers’ Compensation would be available to them through their employer. As an added consequence to employers, the State Board of Workers’ Compensation can increase the damages available to injured workers by 10%.
Get an Insurance Policy for Your Georgia Drywall Company Today
Reach out to our Workers’ Compensation insurance brokers by calling NPN Brokers today at (866) 340-9120.
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