As an owner I am not required to provide Workmans Compensation for myself or any principals of the company.

I go to jobsites and by doing so run the risk of getting hurt.

Workers Comp is expensive and in the past I have chose not to buy it.

There is a way to be protected if you are a "non tools on" employee or owner.

You can file yourself as a salesman and receive Workers Comp for about $200 a year.

This is not a scam... I go to jobsites not only to check up on the men but also to sell extras and or new work.

My insurance company suggested that I do it this way. It saves me alot of money and I still get the bennies.

The "forgiven" billions that the coal companies owe has left a bad taste in my mouth concerning comp. The only time a member of my family needed to utilize comp, their "doctor" claimed it was a previous injury and my wife was turned down. We had to pay for the surgery for the hernia she received at work.

My buddy gets hounded and threatened for the couple hundred he finds himself owing from time to time, but the coal companies DON'T pay, and quite frankly, don't have to by some unwritten exception to the law.

You'd be better off spending that $200 on some reputable accident insurance, atleast they don't have prostitutional doctors whose job is to turn down all claims.

JMHO

</rant>

-Virgil

Hi tsolanto

I have in the past have had the same problem with the cost of workmans comp. Last spring I dropped my personal workmans comp coverage. When my accountant noticed this changed he insisted that this was a big mistake.
I contacted my insurance company and explained that my job was to mainly to meet customers at the job site to layout new jobs and to estimate new work.
I was told that if I spend any time at the job site that this is classified as a working executive. The rate is for this classifiacation is not much cheaper than a hands on rating.

I took my accountant advice and decided to reinstate my workmans comp coverage.

On Dec. 6 last year while walking to my truck I slipped on some ice and broke my hip and three ribs. I have been out of work since that time. Needlees to say I'm glad I listened to good advice.

I guess what I'm trying to say is to think twice before dropping your coverage.

Have you ever considered getting a disability policy instead of WC. Disability income combined with a decent health insurance policy is much better than WC alone. Just make sure the disablity policy has benefits that don't expire and that you are covered as long as you can't do the exact same job. Some policies won't pay if you can do any job.