Elect Coverage for Workers’ Compensation

Depending on your role as an artisan contractor in Ohio, workers’ compensation may be optional. Ohio requires all employers with at least one employee to have workers’ compensation however you may be able to decline coverage as well.

As the owner if you are a sole proprietor, partnership, limited liability company (LLC) acting as a sole proprietor, LLC acting as a partnership or an individual incorporated as a corporation you can choose coverage with your initial application or at a later date by completing the appropriate form with the Ohio Bureau of Workers’ Compensation (BWC).

If you choose not to cover yourself and you are injured at work BWC will not pay benefits for your work-related injury. Other insurance may or may not pay for your work-related disability or medical bills!

As a business owner why would you risk the future of your company by not purchasing workers’ compensation for yourself?

I hear from business owner’s many reasons from;

I no longer work in the business I work on the business; I won’t get injured. Think again, you are driving to a prospects office and are struck by an uninsured motorist and are disabled. This may be covered by workers’ compensation if you had selected not to exempt yourself.

I can’t afford coverage. You can’t afford not to have coverage. This is a business expense that needs to be budgeted for to ensure the future of the business.

The reasons that people may exempt themselves could go on and on but as you can see the risks are too great. Part of any well-constructed insurance plan uses insurance as a means to transfer risk to another party and the Ohio Bureau of Workers’ Compensation has been taking on this risk for years.

For the most part employees in Ohio are covered by the Ohio Bureau of Workers’ Compensation because Ohio is a monopolistic state for the coverage. However, the Trusted Choice Agents at Richey-Barrett can assist you in reviewing your current coverage, see if there are any credits available for you, or assist you in applying for coverage with the state.