Lakewood, CO, like many cities, towns, and states across America is seeing a surge in the numbers of companies working with independent contractors, as well as a surge in the number of people running a small business, being self-employed, and working as an independent contractor due to the shift toward the gig economy. Whether you are a small or large company, an Uber driver or a carpenter, it can be confusing trying to figure out where you understand without talking with your Colling Insurance Services, Inc. Agent. Here’s some information to give you the basics. <\/p>\n
The State of Colorado requires all employers to carry workers’ compensation insurance, with very few exceptions. You are required to carry workers comp if you: <\/p>\n
There are common law guidelines to help you distinguish employees from independent contractors, but Colorado has a strict workers compensation system and is firm about independent contractors and subcontractors being considered employees unless they don’t qualify under specific exceptions in Colorado state law. <\/p>\n
Here are the few exceptions: <\/p>\n
Corporate officers and members of an LLC – <\/strong>If you own at least 10% of the company you can opt-out of coverage if the rejection is done in writing, otherwise, Colorado includes you in coverage.<\/p>\n Sole proprietors and partners — <\/strong>You have the option to include yourself but are excluded from required coverage. <\/p>\n Maintenance and domestic workers: <\/strong>Some maintenance and domestic workers may not need to be covered by the law if they only perform work on a part-time, limited basis for a homeowner. <\/p>\n While workers’ compensation insurance is not required in Lakewood, CO, it is a good idea for self-employed and independent contractors to provide coverage for themselves, as the chance of injury still exists for entrepreneurs. <\/p>\n Whether you are an SMB or a large corporation, an independent contractor or self-employed, if you have questions about your worker’s comp needs, give the insurance experts at Colling Insurance Services, Inc. a call or come by our office for answers today. <\/p>\n","protected":false},"excerpt":{"rendered":" Lakewood, CO, like many cities, towns, and states across America is seeing a surge in the numbers of companies working with independent contractors, as well as a surge in the number of people running a small business, being self-employed, and working as an independent contractor due to the shift toward the gig economy. Whether you […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17],"tags":[470,514,516],"class_list":["post-687","post","type-post","status-publish","format-standard","hentry","category-commercial-insurance","tag-colling-insurance-services","tag-inc","tag-lakewood-co"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\tDo Self-Employed and Independent Contractors Need To Buy Their Own Workers Comp? <\/h3>\n