Workmans Comp

Newton

Hi all. I'm new to this forum, as well new to construction. I have 15 years of repairs and maintenance experience from picking up a tool bag to overseeing work on military bases. My father-in-law and I have a handy man/renovation company that we plan on moving up into general contracting. He has already taken the state exams and passed with flying colors. After the rest of the application process we should be certified building contractors for Florida. My question is how do general/builder contractors work the workmans comp issue especially in Florida? We already got one quote for three employees and this is just for trim and finish carpentry.

Grumpy

GC's have their own classification for WC insurance. Just make sure each and every sub you hire has WC with equal or greater coverages as you... and you'll be OK.

Newton

Grumpy, thanks for the reply.

hauoli63

You also need to make sure that you get a Certificate of Insurance from your subs and KEEP them. When your policy comes up for renewal every year, you will get audited and have to prove that your subs had WC when they did work for you or you will have to pay WC insurance based upon their salary (what you paid them for the work) as well as what you pay yourself and your employees! WC is also based upon your revenue for the year. For us, we won't use subs that don't carry their own WC because it increases the amount we have to pay for ours ... besides the increased risk to us if they get hurt on the job.

__________________
~~ Lisa ~~

www.chantillyplumbing.com

Newton

Thank you Lisa for the reponse, that sheds some light to my question. Anymore responses out there are definitely welcomed.

"Newton"

Grumpy

Actually I'd like to interect something. Sometimes it is based on revenue and sometimes it is payroll.

My GL & WC are both based on payroll.

hauoli63

Mine is based on payroll and revenue.

__________________
~~ Lisa ~~

www.chantillyplumbing.com