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Any small business owners here?

  1. #1
    Balls deep
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    Any small business owners here?


    Anyone on here that has any suggestions for Workers Comp? Like where you get/got it from and any place you recommend? I am looking to leave my regular job to go work full time for my dad but his one rule is I need to come up with my own Workers Comp policy in order to leave my "corporate" job which unfortunately will have to remain nameless at this time.

    I have benefits through the VA already so I am not looking for a full coverage policy just the bare minimums for Workers Comp. Anyone here sell policies or know of a super awesome dude/chica that can set me up?

    Fell free to shoot it to me in a PM if need be.

    Thanks!

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    06 CBR 1000RR w/ some stuff

  2. #2
    Senior Member Pearldog's Avatar
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    Re: Any small business owners here?

    Hi Broke-

    Feel free to give me a call or email. I own an independent insurance agency in Milford, NH and we work with quite a few different carriers. I'm sure we can get you setup when your ready.

    Thanks

    Lyle (Pearldog)

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    Lyle Fulkerson
    HPM Insurance
    Milford, NH & Londonderry, NH
    603 673 1201
    www.HPMInsurance.com

  3. #3
    Angry Gumball RandyO's Avatar
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    Re: Any small business owners here?

    Broke

    as bare minimum policy, as owner you are not required to cover yourself with workers comp, only employees, if your the employee, your dad is required to cover you, I do not believe you can "pay for your own" when you are the employee

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    RandyO
    IBA#9560
    A man with a gun is a citizen
    A man without a gun is a subject

  4. #4
    Lifer SteveM's Avatar
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    Re: Any small business owners here?

    Quote Originally Posted by RandyO View Post
    Broke

    as bare minimum policy, as owner you are not required to cover yourself with workers comp, only employees, if your the employee, your dad is required to cover you, I do not believe you can "pay for your own" when you are the employee
    My guess is that his dad is in the trades and is going to classify him as an independent contractor. While this doesn't require that he get WC, his dad insisting on it is probably prudent.

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  5. #5
    Angry Gumball RandyO's Avatar
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    Re: Any small business owners here?

    Quote Originally Posted by SteveM View Post
    My guess is that his dad is in the trades and is going to classify him as an independent contractor. While this doesn't require that he get WC, his dad insisting on it is probably prudent.
    not necessarily, I do not carry workers comp on myself cause as owner, I can't collect, as owner I need a disability policy instead,


    independent contractor=business owner = check policy good before you pay for premiums on a policy you can't possibly collect on

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    RandyO
    IBA#9560
    A man with a gun is a citizen
    A man without a gun is a subject

  6. #6
    Lifer SteveM's Avatar
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    Re: Any small business owners here?

    Good point, Randy.

    The laws vary a bit by state. In NH, it appears the employer can elect to exclude a limited number of officer's and there is a rate listed for sole,proprietors. Apparently WC is available for sole owner / independent contractors.

    The best advice, of course, is to consult with a knowledgable agent.

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    Last edited by SteveM; 08-07-12 at 08:33 AM.

  7. #7
    Lifer Stromper's Avatar
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    Re: Any small business owners here?

    Call your local

    Chamber of Commerce

    They had deals on all the insurance that saved me thousands on all my insurances

    IF you are working above then you need some kind of insurance. I am also not sure of what happens if you are a "partner" in a business re Workers comp etc.

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    The calculus of hate

    It is not that I should win it is that you should lose
    It is not that I succeed it is that you fail
    It is not that I should live it is that you should die

  8. #8
    Lifer daviid's Avatar
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    Re: Any small business owners here?

    Your dad wants you to get your own Workers Comp because he is trying to 1099 you. If he holds proof you have WC then he does not have to pay it. If you are under his direct control (ie Be here from x to z) and are unable to tend to other customers, you will be classified as a Improperly Classified Employee. My understanding is that he can actually be held liable for the taxes he is supposed to withhold from you after the fact.

    If your dad is going to do this to you, you need to think twice about the relationship with your dad.

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    David King | ASRA/CCS/WERA SE EX #484

    "Any society that would give up a little liberty to gain a little security will deserve neither and lose both."
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  9. #9
    Lifer RyanNicholson's Avatar
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    Re: Any small business owners here?

    Quote Originally Posted by swinslow View Post
    It would be really nice to be able to start and hold your own business but looking at the economy that we have now, it is just not something that would fairly work with how others say it would. I am guessing that there will be more things that could work well with what your expectations are. It would also be a good matter of being able to balance out the means.
    As a small business owner (with no need for WC, so I have no opinion as far as this thread goes) I disagree vehemently.

    1) Start business
    2) Work hard and don't suck at it
    3) Profit

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    Last edited by RyanNicholson; 08-07-12 at 07:59 PM.

  10. #10
    Lifer SteveM's Avatar
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    Re: Any small business owners here?

    In my experience, a lot of people have trouble with #2 on your list.

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