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  • Writer's pictureJoyce Insurance

Electrician and Plumbers Workers Compensation Insurance

Artisans such as Plumbers and Electricians and their employees are very prone to injuries at their workplaces, and not just from falling while trying to collect coins and mushrooms – okay, that’s out of our system now. We promise. Mishandling of tools or accidents at workspaces is so prevalent for these professions that Plumbers and Electricians cannot survive in the market without Worker's Compensation Insurance.

Here is a quick guide presented by Joyce Insurance Agency on how important Workers’ Compensation insurance is for plumbers and electricians. It will not be as fun as a Ted Talk on microdosing mushrooms, but it is incredibly important. Workers Compensation Insurance is not only essential to protect your career; it can also save your life.

For situations taking place in New York, ordinary Slips and Falls at job sites can cause serious damage to your employees. And if a small surgical procedure is necessary, it can cost more than the annual wage of an average plumber or electrician or US President; Ouch. Talk about adding insult to injury. If you own a skilled trade business, helping your injured employees is your responsibility. If this is the first you’re learning that you’re now a responsible adult, allow us to offer both congratulations and consolation. The cost of taking care of workplace incidents requires Plumbers and Electricians to have some sort of Insurance for injuries. Thus the Worker's Compensation Insurance is absolutely necessary for every contractor.

If a heavy pipe lands on a Plumber or an Electrician is zapped at the workplace and they do not have Workers’ Compensation Insurance, the medical procedures to bring them back to their feet might leave the company owner in debt or behind bars for the rest of their lives. This could also be an end to their careers and that causes more problems such as, how will they pay off their debt? Or how will they survive without an income?

Bottom Line?

A plumber or electrician who does not have a Worker's Compensation Insurance is one accident away from a seeping Financial crisis or jail. And no, this isn’t an empty promise; In Congers, New York, a construction company is alleged by prosecutors to have lied about having more than 90 employees to try to avoid paying mandatory workers’ compensation coverage. Why is that such a big deal? Prosecutors say he should have paid over 1.4 million dollars. In a similar situation in Pearl River, New York, a contractor who claimed they had no employees to avoid workers’ compensation payments was arrested on felony charges when one of their employees was injured. Both contractors were shocked to learn that they would actually be held accountable for being terrible people. Doesn’t sound like a fun spot to be in!

In New York State, Workers’ Compensation is mandatory if you have employees. That means if you have any humans working for you, although we hear Bodegas are working to get cats recognized as formal employees. Workers’ comp will pay medical bills and loss of wages to any employees, including the owner, if they are injured on the job. If you happen to head home with one less thumb than usual? 75 whole weeks of pay in cash. Just a little missing pinky? 15 weeks of pay will do. Your head, shoulders, knees and toes (and eyes and ears and mouth and nose) are very important!

All of these scenarios ensure that Workers’ Compensation Insurance is necessary for every contractor, with employees or not. Companies that have Workers’ comp guarantee stability, whereas the risk behind not having insurance will very quickly come crashing down on the companies’ financial situation. And when it comes to finances, most businesspeople prefer stability. Unless they’re an amateur poker player in Vegas, but that’s for another presentation.

For a contractor with a number of individuals working in collaboration, the risk of injury to any of the employees is far more than for just one worker. It’s similar mathematics to mo’ money mo’ problems except it’s more people more problems, and then the people’s problems cost more money. This means that companies need the insurance to offset any potential medical bills, regardless of if the company creates enough revenue to pay for some small injuries. Larger firms have more employees and thus the risk of one employee being seriously injured is much larger.

Now we know how important the Worker's Compensation Insurance is for Plumbers, Electricians and other contractors. But how do we get coverage?

All you need to do is find a reliable insurance company and pick the right policies with favorable pricing to suit your business requirements. You’re probably thinking “Okay but I don’t know any insurance agents.” Oh my god, rude. We’re right here.

Joyce Insurance Agency has your back. We’ll help you find the right policy for you! We’re basically matchmakers. Joyce Insurance Agency is committed to find you the best insurance option that suits your budget. You can choose and pay only for the policies that ensure your company's survival in case of a crisis.

Don't forget the hefty paperwork that needs attesting and verifications. We take care of that, too!



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