Saving money these days is a major influence on corporations that hire workers to perform needed tasks for the normal operation of their business. By engaging the services of individualistic contractor rather than hiring employees, NY companies may be able to avoid paying high insurance premiums on those workers. For independent contractors insurance NY looks at several factors to determine whether a worker is actually an individualistic contractor or employee.
The true test of an individualistic contractors is not whether or not a worker signs a contract stating that he or she is an independent contractor. NY State laws will consider a person that is labelled as an individualistic contractor an employee if the person or company engaging the worker's services demonstrates a certain level of supervision, direction and control over the worker's activities in completing the job. The individualistic contractors
Independent contractor insurance NY based protection includes Worker's Compensation, Commercial/General Liability, Automobile and Umbrella Liability policies. As an independent contractor working within the state of New York if you wish to obtain a permit to work within a municipality of the state, you must have the above-mentioned coverage.
Depending on the particular type of contractor you are, you may require different levels of insurance coverage. If you are the owner of a large business that provides millions of dollars of services each year, you should consider getting much better coverage than if you go door-to door and wash windows of retail store fronts as an individualistic contractor.
Anyone that is truly classified as an independent contractor is not eligible for any type of insurance coverage that might be offered or required by NY law for an employee. If you are injured while working on a project as an independent contractor, it is up to you to have insurance for such a contingency. Employers are not required to have workmen's compensation insurance for an independent contractor. There is also no such thing as unemployment insurance for an individualistic contractor. If you finish a job and do not get another one for 6 months, you cannot file for and collect unemployment insurance in the interim.
Any company that claims that all of the people that do work for them are individualistic contractors may be subject to an investigation by the NY Board of Labor or the IRS. These and other governing bodies frown on companies that try to avoid paying insurance, taxes and other costs when a worker is classified as an employee. The independent contractors insurance NY game will not be tolerated by the governmental authorities. If you try to avoid paying your fair share of taxes and other costs by falsely classifying employees as independent contractors, you may feel the wrath of Big Brother peering over your shoulder.
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