In NJ it seems that the underwriters always try to include the owner’s estimated salary in their WC figures, even though we aren’t covered. You have to look out for that. I don’t put myself on it because, well duh, I wouldn’t be covered. Its also the reason I don’t personally do ladder or roof work anymore. If I fall, we’re just kinda effed over and out.
$1000 for a ghost policy that doesn’t cover anything? Honestly, I’ve had maybe 10 people ask for our WC info in 14 years. I wouldn’t worry about getting it as a sole operator unless you have a monster job that requires it and doesn’t mind the price of the policy being baked into their price.
My business is an S-Corporation and the shareholders, my son and I, are W-2 wage earning employees. I got an exemption from Workers Comp for myself from my States’ Department of Labor, but my son wanted to be covered.
Even though my son is only a 2% shareholder the underwriter requires that the Workers Comp formula must be applied to him making a minimum of $34,800 in wages. Learning that was an unpleasant surprise. I will try hard this season to get him enough work to make at least $34,800.
I operated without it for 3.5 years then got subs and employees. In the beginning I missed out on jobs on the Las Vegas and high end condos that required workers comp but now I get them and it ain’t worth my time going down there as so many guys drive down prices or I’m missing the high paying jobs.
Well, prices are much lower where i am(San Bernardino county) and operating cost is the same, and more for gas). That’s residential.
Still working in San Diego with new and existing clients. I’m going to stay there too. Hopefully i can get my site to show up in this area too.
I’m just stumped on how to do that correctly
