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Occupational Accident Insurance For Independent Contractors

In as much as there are person called “Independent Contractors”, there is need to consider “Occupational Accident Insurance For Independent Contractors“.

There as been divers views about who an Independent contractor is, trying to link them as employees and some persons putting them as private entity.

Lets use New Jersey to explain this:

The term “independent contractor” is often used to describe someone who is a sole proprietor or sole member of a limited liability company (LLC) exempting them from workers compensation insurance requirements. They do not need to provide insurance for themselves. They could operate their business without having workers compensation coverage; the terms of the independent contractor agreements they sign often require insurance coverage not by statute but by contract.

So when we talk about Occupational Accident Insurance For Independent Contractors, it is about independent contractor providing its own workers’ compensation insurance coverage where necessary.

It has become standard practice though not legally binding for an employer to require a new independent contractor to sign a written independent contractor agreement as part of their hiring process.

READ: Can I Be Sacked For Causing An Accident At Work?

A written independent contractor agreement is a contract that clearly outlines the terms and conditions of the employee’s independent contractor relationship. The contract outlines who owns who’s equipment, who owns the tools, and even who owns the motor vehicle (for example, a truck driver) the employee is driving. The contract also outlines who’s responsible for maintaining and insuring equipment, tools, and motor vehicles.

Occupational Accident Insurance For Independent Contractors

In candid terms, when we talk about occupational accident insurance for independent contractors we are talking about an independent contractor providing its own workers’ compensation insurance coverage. This is borne out of the fact that independent contractors are not covered in the routine workers compensation.

How Workers Compensation Works & Requirements

Workers’ compensation is a form of insurance that pays out cash benefits or medical care to workers who are hurt or sick as a result of their work.

This type of insurance is paid for by employers, who do not have to pay for it themselves. Instead, the employer’s insurance carrier pays out the weekly cash benefits and the medical care as ordered by the Workers’ Compensation Board.

The Workers’ Compensation Board is an agency of the state that handles workers’ compensation claims. If the Board decides that an insurer should pay out the cash benefits and / or medical care, it will also determine the amounts to be paid out.

No one is held responsible for a worker’s injury. The amount of compensation a worker receives is not reduced because of the claimant’s negligence, nor is it increased because of an employer’s fault.

READ: How Does The Workers Compensation Claim Process Work? Find Out Here

A worker loses their right to workers’ compensation if their injury is the result of intoxication due to drugs or alcohol or if the injury was the result of their intent to injure themselves or someone else.

A claim is made if the employer and insurance carrier agree that your injury or illness was a result of work. If your employer and insurance carrier dispute your claim, you won’t receive any cash benefits until the workers’ compensation law judge has ruled on your claim. If you aren’t receiving benefits because your employer and your insurance carrier are arguing that your injury wasn’t work-related, you may still qualify for disability benefits. However, any disability benefits you receive will be taken out of your future workers’ compensation award.

If you’re able to go back to work, but your injury means you won’t be able to make as much money as you used to, you may qualify for a benefit that makes up the difference. In addition, you may also be eligible for a disability benefit before you’re fully healed.

Occupational Accident Insurance For truckers

For truckers Occupational Accident Insurance is a great choice because it helps protect independent drivers who might otherwise be worried about coverage if they get hurt.

Trucking Occupational Accident coverage includes medical, disability, death and dismemberment benefits for accidents that occur on the job. It has;

  • Flexible policies offer you wide range of limits
  • Available for accounts of all sizes
  • Generous Disability Calculations that help drivers save on out-of-pocket costs
  • Passenger Accident and Non-Occupational coverages on select plans
  • Bundle with other coverages
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