Which company offers workers comp?

Here is source One for thoughts about this subject before anything.

The Owner-Operator Coverage Dilemma | Layover.com

Source Two

Missouri Example. As a leased driver in that state you should still have workmans.

When is a Truck Driver an Owner-Operator who is excluded from the Missouri Workers' Compensation law?

It's strictly a example to show what is possible.

 

To be honest with you, you might want to speak with @Ridgeline about this. some things are above my paygrade. I gave you what little bit I understand.

I once got mashed with the milk tanker at work on the farm loading milk. Chopped up pretty good. Workmans comp made my ER bills go away and then some for lost wages. My company WAS NOT HAPPY. They screamed, they yelled, they #####ed basically. ##### ##### #####. How dare I file workman comp like a princess. Put some duct tape and bactine on that and get back to work.

Shrugs.

 

Depending on your home state you may have to start out in a risk pool. DOT# has nothing to do with a comp policy.

 

Whether you're leased to a carrier, or are a carrier, doesn't matter. You would be considered an employer regardless.

Obviously, check your state laws and see if you're exempt. Usually business principals, and sometimes a low number of employees qualify. Failing that..

For years I could never get a straight answer, much less a quote, on WC. Like other group-style insurance products, most don't want to even waste time talking with you unless you have at least a dozen on payroll.

I caught a break accidentally. I use ADP for payroll processing, and a insurance salesman reached out with a deal they offer via the payroll service.

The main benefit being the premium is collected on each payroll. Like a payment plan, only it's the actual premium being collected week by week. The reason that's good for a small business is the conventional WC policy normally doesn't do payments. Annual premium is based on payroll. First year you estimate. Then the entire year premium is due up front. There are finance companies that will set up payments, but that is separate. Then, at the end of the year, they audit your payroll. If your payroll was higher than the estimate, you get a bill due on receipt and they adjust your premium up. If it was lower, they will credit the overpayment to the new term.

 

I wouldn't know. I am a carrier, not leased to one.

What I do know for sure is that WC is about the shadiest kind of insurance to have to deal with. More mystery there than it's worth.

Edit to add: Used to be anyone could get a DOT number, but I think they quit doing that a few years ago. Maybe you can get something like that from your state? I don't know.

To be fair, it took me 7 yrs in business to get an insurance agent that actually acts like they know what they're doing. Of course that was after getting the ADP deal in place, so never asked about WC to test his limits.