What is the name of your state? Iowa
I have recently started as a subcontractor for a national company based in Texas. My wife and I are partners in this and we have no employees. According to the company, since I am subcontracting from them I must have my own workers comp. They say that a number of the reps have policies that actually cover no one since they exclude themselves. I had my insurance agent look into it and finally found one company that would write a policy, but would not exclude my wife and I since then no one would be covered. They wanted $2200.00 per year based on an estimated $20,000.00 in earnings. How should I proceed? I'm not real concerned about being covered, though I would if it weren't outrageous. Is there any way of simply waiving workers comp so that neither I nor the company I sub for has to have it?
I have recently started as a subcontractor for a national company based in Texas. My wife and I are partners in this and we have no employees. According to the company, since I am subcontracting from them I must have my own workers comp. They say that a number of the reps have policies that actually cover no one since they exclude themselves. I had my insurance agent look into it and finally found one company that would write a policy, but would not exclude my wife and I since then no one would be covered. They wanted $2200.00 per year based on an estimated $20,000.00 in earnings. How should I proceed? I'm not real concerned about being covered, though I would if it weren't outrageous. Is there any way of simply waiving workers comp so that neither I nor the company I sub for has to have it?