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Ghost Worker's Compensation Policy
A ghost insurance policy helps self-employed business owners satisfy workers comp insurance coverage requirements.
Ghost Worker's Compensation policy is tailored for workers' compensation, excludes the owner from coverage when no additional employees are present. Ideal for subcontractors, this policy satisfies the coverage requirements of general contractors.
What is Ghost Worker's Compensation Policy?
A ghost worker's compensation policy is a type of workers' compensation insurance policy that is specifically designed to satisfy the coverage requirements of a general contractor or other entity that has hired a subcontractor. It excludes the owner from coverage and doesn't have any additional employees working for the business. This policy does not provide actual workers' compensation benefits unless the employer hires employees or becomes liable for an uninsured subcontractor. The ghost worker's compensation policy may not be available in all states.
Why Would I Need a Ghost Policy?
Getting a ghost policy is typically done to fulfill an insurance certificate requirement for a general contractor or other business you perform company with. Small subcontractors frequently win bids to complete projects, but before they can begin work, they must show that they are covered by workers' compensation. The purpose of a ghost policy is to guarantee that a subcontractor has insurance in case they engage workers or another uninsured subcontractor to help with a project. Additionally, it enables them to exempt from their policy any payments made to subcontractors.
Ghost policies are only a type of workers' compensation insurance for independent contractors. Many small contractors and/or subcontractors do not employ staff and are unwilling to pay higher insurance premiums for their own coverage. The least expensive option for independent contractors seeking a workers' compensation policy is through a ghost policy.
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We're not only your go-to source for ghost compensation policy insurance in Connecticut we're also licensed in several other states to provide you with the same level of exceptional service and coverage. Whether you're located in New York, New Hampshire, Rhode Island, Massachusetts, Texas, California, or South Carolina, our dedicated team is ready to assist you in finding the perfect ghost compensation policy solution for your needs.
Worker's Compensation Policy in Connecticut
Connecticut mandates workers' compensation insurance for businesses with one or more employees, including full-time, part-time, and contract workers, regardless of their weekly wage.
Who needs workers’ comp insurance in Connecticut?
Connecticut businesses with employees are required to provide workers’ compensation benefits. This policy covers the cost of medical care for job-related injuries and provides death benefits in the event of an employee fatality.
Employers are not required to cover household employees who work fewer than 26 hours per week. All other employees, whether they’re part-time, full-time, or seasonal, must be covered under an employer’s workers’ compensation insurance.
If you’re a business owner, member of an LLC, corporate officer, partner in a partnership, sole proprietor, or independent contractor, you’re not required to have workers’ compensation coverage.
Given the high cost of medical bills, you should consider purchasing this policy even when it's not required. Individual health insurance plans typically won't cover work-related injuries.