Plumbing businesses in the NY area will learn from this blog some of the questions they should be asking when it comes to workers’ insurance. Did you know that there are tons of workers’ compensation codes for different business operations? If not, don’t worry! The best news for plumbing contractors is that Enforce Coverage Group has cracked the codes!
Do NY Plumbing Businesses Need Workers’ Comp Insurance?
Are you having trouble finding the right workers’ comp insurance for your business? Would you like to find a quote for business insurance that will be easy on your budget?
Your plumbing business needs workers’ comp insurance to have a safety net against liability. In NY, companies must provide insurance for all their employees, whether they are family or friends.
Plumbing companies should protect their employees from injury by having the proper workers’ comp insurance. A business’s resources can be strained when an employee gets hurt real bad and ends up not working. That’s why workers’ compensation insurance is so important.
The best news about finding a workers’ comp quotation is that it could save you money! Plumbing contractors can find workers’ comp insurance rates for their specific business at Enforce Coverage Group’s website.
Is My Plumbing Business Properly Classified for Workers’ Compensation Insurance?
Many plumbing businesses are confused about whether or not they need workers’ compensation insurance for their employees. You may have heard that you only need it if your business is considered “high risk,” but did you know several factors to consider when determining the classification?
All NY businesses with employees must obtain workers comp insurance coverage. Proper classification is essential so that your payroll is reported to the insurance company correctly and so you don’t pay the wrong rate for your employees.
To get the right coverage for your plumbing business, the workers’ comp insurance provider needs details about your company. They typically request information about your location, the number of employees, type of work performed by each employee (e.g., plumbers), hours worked per week, and other factors that might impact classification.
Some factors to consider when determining your company’s classification are:
- Are you a sole proprietorship? A corporation? A partnership?
- What type of entity is formed in the state where the business operates?
- What kind of license does it have, if any (e.g., contractor)?
- Are services provided as part of your plumbing operations?
- What is the average number of hours per week that your employees spend at work?
- Do you have a full or part-time staff, and what are their job titles, positions, responsibilities, and duties (e.g., plumbers, assistants, secretary, etc.)?
- Does your plumbing business operate out of multiple locations (i.e., in more than one city or state)?
- Do you have a warehouse for storing equipment?
- Is your plumbing business seasonal in nature (i.e., does the activity level fluctuate during different periods)?
- What is the ratio between your payroll and gross receipts?
- Does your company operate with employees who are out on disability, workers’ compensation, or other kinds of assistance or benefits)?
- How many employees do you have? -Are your employees full-time, part-time, or temporary (e.g., seasonal)?
- Does your company carry general liability insurance coverage of at least $500,000 per occurrence and $750,000 in the aggregate for all circumstances arising out of one event?)
As NY workers comp experts, we help ensure your plumbing company is classified correctly with the proper class codes and rates.
Do You Know About Class Code 5183?
Plumbing businesses will use this class code the most with the work they do. Class code 5183 is for operations that involve working on equipment that transports liquid or gas within a building. This equipment includes things like bathroom fixtures, kitchen sinks, water disposals, pipes, and much more.
Installing sprinkler systems and water well pumps also falls under class code 5183. Operations that happen within the plumber’s shop also fall under this code. Things like cutting pipes, attaching fittings, or fixing shop machinery are all operations under code 5183 within the shop.
Good News For Plumbing Businesses in New York
You know as a business owner that finding the best workers’ compensation coverage for your business is essential, if not crucial. For instance, you want to make sure that you’re getting the most affordable policy possible while still having enough coverage in case of an accident or injury on site.
Enforce Coverage Group offers competitive rates and excellent customer service. You deserve the best coverage at an affordable price. That’s why we offer custom coverage plans for every one of our customers. We want you to have the best workers’ comp insurance policy for all your business’s needs.
Our goal at Enforce Coverage Group is simple: Help NY business owners get their workers’ comp coverage fast, easy, and affordably. If you’re looking for a company that will take care of everything while being friendly and helpful along the way, then look no further than us!
Contact Enforce today to start your policy! Click here to get your quote!