Approximately how much is nonspecific liability insurance for a stucco & stone repairman?
I am currently working for someone who has a small stucco and stone repair business. He has "demanded" that I obtain general liability insurance and that I pay for it myself. Approximately how much will 1,000,000.00 contained by coverage cost me for 6 months? Am I really responsible for paying for it? I am 28 and I live in Columbus, Ohio if that helps. I am really only just looking for a vauge estimate. I know the details matter when it comes to something like this. Ballpark it...Thanks! :)
Answers:
You must be a sub contractor to the person you work for ... otherwise it is up to the boss to own the insurance.
The estimate of $1000, - 1500 sounds about right. And you will have to buy it for a year.
Good luck
Probably $1,000-$1,500 per year. No one sell it on a 6 month basis as it's not worth it to issue a 6 month policy. I wouldn't risk my million dollars for $500 bucks, not including expenses.
If your an employee, you shouldn't be required to provide that coverage. It's individual for the person who owns the business.
If you buy it to cover yourself, it WON'T cover your boss. It Won't provide any payments for lawyers to represent him contained by case of a claim.
It will only cover you.
Your boss also must provide Workers Comp coverage for you or any organization (by state law). He can be fined and be obligated to pay the work comp premiums for the prior 3 years, if caught.
Well, you can't buy it for six months. Or fairly, six months will cost you the same as a full year. And for one guy, it will probably run between $1500 and $2,000.
You have to foot it in full, because it's a seasonal business. And if you cancel it in the middle, you don't get a refund - the guy you're working for will hold to pay for your other six months - so it won't make him healthy.
Your boss is trying to get out of paying workers comp and gl coverage for YOU, and he's trying to call you a subcontractor. Likely, unless you can hire someone else to show up and he doesn't mind, it's not going to work. Be sure to incorporate that $2,000 in to the "job costs", and also, payroll taxes and employment taxes. If you do it this agency, your costs will be MORE than $2,000, with all the self employment taxes. Source(s): agent, 21+ years
Related Questions:
Answers:
You must be a sub contractor to the person you work for ... otherwise it is up to the boss to own the insurance.
The estimate of $1000, - 1500 sounds about right. And you will have to buy it for a year.
Good luck
Probably $1,000-$1,500 per year. No one sell it on a 6 month basis as it's not worth it to issue a 6 month policy. I wouldn't risk my million dollars for $500 bucks, not including expenses.
If your an employee, you shouldn't be required to provide that coverage. It's individual for the person who owns the business.
If you buy it to cover yourself, it WON'T cover your boss. It Won't provide any payments for lawyers to represent him contained by case of a claim.
It will only cover you.
Your boss also must provide Workers Comp coverage for you or any organization (by state law). He can be fined and be obligated to pay the work comp premiums for the prior 3 years, if caught.
Well, you can't buy it for six months. Or fairly, six months will cost you the same as a full year. And for one guy, it will probably run between $1500 and $2,000.
You have to foot it in full, because it's a seasonal business. And if you cancel it in the middle, you don't get a refund - the guy you're working for will hold to pay for your other six months - so it won't make him healthy.
Your boss is trying to get out of paying workers comp and gl coverage for YOU, and he's trying to call you a subcontractor. Likely, unless you can hire someone else to show up and he doesn't mind, it's not going to work. Be sure to incorporate that $2,000 in to the "job costs", and also, payroll taxes and employment taxes. If you do it this agency, your costs will be MORE than $2,000, with all the self employment taxes. Source(s): agent, 21+ years
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