I should add that if you have one of those ghost policies, at the end of the policy year the insurance co. will audit your records, and as long as you can prove that you had no employees during the policy period, then you will receive a refund for all but about $200.00 of your premium, so the effective yearly cost of that certificate is about $200.00.

But the when you renew for the following year, it's another $800.00 (roughly)

At least that's how it worked when I was O/O dump truck.

When I had employees the work comp cost me about 12% of gross payroll if I remember correctly.

I never could see any sense in an O/O incorporating. If you're the driver and you're involved in a crash, you're personally liable anyhow whether your company is incorporated or not.

If you have employees then incorporation is a must.

Just curious, what is the percentage on a HHG operation? not including yourself, just labor.

Mines 9% for drywall, again this does not include myself.

My brother in law is in the roofing business.............sit down.............60% :shock:

Some insurance companies won't write "ghost polices." My first insurance company wouldn't, I'm not sure if the one I use now will or not.

Do the percentages vary much from a flatbed operation to say a reefer operation?

No, I'm not. When I was first interviewing companies, I found several who required a work comp policy. HHG, however, was the only industry who required me to carry one on lumpers as well.

Huh?

If I'm not mistaken, I believe it's about 10%, but it depends upon what state you're in. WI is a pretty decent state when it comes to work comp rates.

I've heard that roofing is horrible when it comes to work comp.

I would believe so. I'm sure the amount of insurance providers who actually write these policies are pretty slim. I couldn't find one independently who would write the policy - I ended up having to get it through my company. Those companies who do write them know the industry pretty well. The company that carries my work comp and occupational accident policies is Transguardwhich specializes in insurance for the moving industry.

Ummm k Rev...im confused...I thought we were only talking how it pertains to 0/oPs n own authority?

I don't see where it would be much of a difference, if you have employees they'll quote the rate that pertains to your business. They shouldn't care if you lease or have your own authority, they only care about your employees.

Re: Why the need for Worker's Comp Insurance
 

From the original post:

It's pretty clear we're talking about trucking companies that require their owner/operators to carry work comp insurance.

Pepe..you live in Califonia correct?? The state of CA requires you to carry Workman's Comp on yourself.. I do believe.

Pepe..you live in Califonia correct?? The state of CA requires you to carry Workman's Comp on yourself.. I do believe.[/quote]


In CA you sign a waiver and not have it if you're a one man operation. If you have any employees then you have to have it.

Most states will allow you to have an occupational policy in lieu of a workers comp policy. OOIDA has a couple that run about $140/month. One pays $400/week, the other $500/week. One of them has a lifetime benefit of $500M, the other $1MM, if I remember correctly. I would prefer the occupational policy. They are less costly and less hassle to collect.

You can sign a waiver for every state if your a one man operation. In some states like New Hampshire your not required to have it at all so in my case it doesn't matter.