Quote:
Originally Posted by kblickster
Why do some companies require a one truck/one driver operation to have worker's comp insurance?
I know that I can buy a ghost policy for 800.00 and cover myself - but what is the point?
|
Better read the fine print.
Those "ghost policies" are nothing more than a certificate to show your customer you have a work comp policy.
It does not provide any coverage to you as an O/O.
As was said, the customers require proof of work comp from each subcontractor, or else at the end of their policy year when their insurance company audits their books, the customer would have to pay for work comp on a percentage of the amount of money they paid you during that period.
Most customers do not want to pay that, hence the requirement that each subcontractor must provide a work comp certificate.