Workers’ Comp Policy Coverage for Fencing Contractors in Georgia
If you are a fencing contractor in Georgia, you may need to purchase a Workers’ Compensation policy. Getting insurance can safeguard you from financial difficulties after a workplace accident.
Fencing contractors that purchase Workers’ Compensation in Georgia can rely on wage-loss benefits and medical benefits to support them if they are injured on the job. Any fencing contractor that employs three or more workers will be required to buy Workers’ Compensation in Georgia. Rates are determined largely by a fencing company’s risk factors, like its age and prior injury claims. If there is ever a lapse in your policy coverage in Georgia, you may risk incurring fines from the State Board of Workers’ Compensation or being held financially responsible for injuries sustained by a worker or by yourself.
To learn more about what our Georgia Workers’ Compensation insurance brokers can do for you, call NPN Brokers now at (866) 340-9120.
Benefits Provided by Georgia Workers’ Comp Policies for Fencing Contractors
The importance of getting Workers’ Compensation coverage for fencing contractors is magnified by the benefits such policies provide. If you work as a fencing contractor in Georgia, getting Workers’ Compensation can allow you to obtain benefits for lost wages and medical expenses following a workplace accident.
In Georgia, Workers’ Compensation provides wage-loss benefits to injured fencing contractors. For catastrophic injuries, contractors can receive wage-loss benefits of about two-thirds of their average weekly wages for the time that they are unable to return to work. Catastrophic injuries include paralysis, head injuries, burns, blindness, and amputations.
For non-catastrophic injuries, which would be most other injuries, fencing contractors can receive wage-loss benefits of two-thirds of their average weekly wage for up to 400 weeks, up to over seven years. If contractors can return to work with restrictions, they can receive wage-loss benefits for up to 350 weeks. Because putting in fencing is a labor-intensive job, many fencing contractors with serious injuries cannot return to work in any capacity until they totally heal from their injuries in Georgia.
Workers’ Compensation also covers a fencing contractor’s medical expenses following a work-related injury in Georgia. In cases of non-catastrophic injuries, fencing contractors covered by insurance can recover compensation for all necessary medical expenses for up to 400 weeks in Georgia. Fencing contractors may be eligible for lifetime medical benefits in cases of catastrophic injuries.
Georgia Fencing Contractors that Need Workers’ Comp Insurance Policies
If you install fencing as an independent contractor in Georgia, you will likely not be required to have Workers’ Compensation. However, you may need to find a policy if you have employees or bring in subcontractors.
Independent contractors are excluded from Workers’ Compensation in Georgia and are not eligible for benefits from a short-term employer’s policy. This means that fencing contractors that work for themselves, whether as independent contractors or sole proprietors, will need to find their own Workers’ Compensation policies if they want to stay protected.
Owners of fencing companies need insurance in Georgia if they employ upwards of two workers. If you hire subcontractors as a fencing contractor in Georgia, you may need to provide them with a Workers’ Compensation policy if they are not already covered.
If you are not required to buy Workers’ Compensation as a fencing contractor in Georgia, you should still find coverage. Our Workers’ Compensation insurance brokers can pair fencing contractors with flexible policies that meet their needs without becoming too expensive. This can allow you to take advantage of Workers’ Compensation benefits if you are hurt on the job instead of being financially liable for your own injuries in Georgia.
Workers’ Comp Insurance Policy Rates for Fencing Contractors in Georgia
Policy rates for Workers’ Compensation depend on several factors, such as industry, payroll, and age. Considering these factors will help fencing contractors determine the cost of coverage.
Workers’ Compensation insurance carriers typically consider a company’s payroll, age, and history of workplace accidents. Those considerations are then applied to a company’s code from the National Council on Compensation Insurance and a company’s experience modification factor to help set premiums.
Fencing contractors are moderately high-risk, meaning their base Workers’ Compensation premium rates could be higher. However, maintaining safe working practices and lowering the number of Workers’ Compensation claims can help to keep insurance costs low in Georgia.
Lapses in Workers’ Comp Policy Coverage for Fencing Contractors in Georgia
A lapse in Workers’ Compensation policy coverage could make fencing contractors in Georgia vulnerable to fines and financial responsibility for workplace injuries.
Any person or entity required to have Workers’ Compensation must be covered at all times in Georgia. There cannot be any lapses in coverage for any period of time, lest you risk incurring fines. If you want to find a new policy, you must do so while a previous policy still covers you and your employees.
Several things could happen if you are without insurance at any time as a fencing contractor in Georgia. First, you or a worker you employ could be injured on the job. Should this happen, your fencing company, or you, if you are an independent contractor or sole proprietor, will have to pay benefits to an injured worker. If you are hurt, you might have to cover the cost of your injuries yourself in Georgia.
The next thing that could happen is that the State Board of Workers’ Compensation could impose financial penalties on a fencing contractor. This will only happen if a fencing contractor needs Workers’ Compensation because they have three or more workers and fails to get it. Such fines can add up to several thousand dollars and cause serious financial headaches for fencing contractors in Georgia.
Buy Workers’ Comp for Fencing Contractors in Georgia Today
For more information about our Workers’ Compensation insurance brokers, call NPN Brokers today at (866) 340-9120.
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