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Occupational accident insurance shields independent contractors who are not covered by workers compensation from the medical bills and lost income that can result from being injured on the job. from the Great American Insurance Company. The PEO provides critical assistance with employer compliance, which helps protect you against liability. HOW MUCH DO CONSTRUCTION WORKERS MAKE (2022): Average Salaries Updated! Occupational Accident Insurance Larger businesses also find value in a PEO arrangement. One reason is that some states allow employers to opt-out of the workers compensation program in their state. In states like Texas and Oklahoma, businesses can also opt out of offering workers compensation benefits. Truck Insurance MCS 90 is an endorsement that is required for certain regulated motor carriers. This reduces the burden on small business owners. Each Independent Contractor is required to have his business join the Association thusly upholding his/her independent contractor status. for owner-operators who do not fall under the requirements of worker's Fax: 562-279-0566 and 800-810-6998, CLAIM PROCEDURE FOR OCCUPATIONAL ACCIDENT INSURANCE. OAI plans typically cost the employer less than workers compensation coverage. They were founded in 1973 and all of their officers either are truckers or were truckers. The coverage can be purchased by the owner-operator or the motor carrier, but acts as a safeguard for a fleet and independent contract should the owner-operator seek coverage under the motor carriers Workers Compensation policy. Another advantage of workers compensation is that for a claim to be paid out, proving that an injury or illness resulted from work-related reasons lies with the worker, not the employer. You can typically purchase contingent liability coverage only after you have an occupational accident insurance plan in place. Occupational accident insurance makes benefits available to owner-operators who are considered independent contractors and are not covered by workers compensation insurance. Get Your Occupational Accident Insurance Today! (70% of income up to $450 weekly max), $10K Hernia Coverage (Life Time Maximum Amount), $10K Hemorrhoids Coverage (Life Time Maximum Amount), $10K Severe Burn (Life Time Maximum Amount), Aggregate per Occurrence Since many truckers are independent contractors, theyre not covered under workers compensation insurance. There are 160 million work-related illnesses each year. TruckersB2B provides you with savings on everything you need to run your trucking business all from industry leading vendors. Membership in the OOIDA is $45 a year. WE ARE LEADERS IN TRANSPORTATION SUCCESS! Laws governing this terminology can vary from state to state. An average PEO client is a business with 20 or more worksite employees. In an employee injury lawsuit brought under these plans, the employer bears the burden of proof. (adsbygoogle = window.adsbygoogle || []).push({}); We needed to change our insurance coverage after getting our Hazmat endorsement. It is extremely critical that all trucker have occupational accident insurance to protect themselves. Your policy deductible, amount of coverage, and policy limits will also impact premium costs. Occupational accident insurance can fund the assumed risk. Occupational accident insurance covers most of the same things that workers compensation How Occupational Accident Insurance Protects You. What makes occupational accident injury insurance attractive to trucking businesses? Having workers compensation gives you peace of mind, allowing you to concentrate on the tasks at hand. In general terms, the PEO will focus on employment related issues and you will be responsible for the actual business operations. If you pay by credit card, there is a small processing fee of 5%. The company you contracted with was reputable. NICA Occupational Accident Insurance If you employ independent contractors to drive your trucks, you need occupational accident insurance. Enroll online today If you are interested, learn more at the best workers comp insurance for independent contractors. No. Some policies provide vocational training, just in case a trucker cannot return to truck driving due to an injury or illness. Truckers who cant work might struggle to support their families or make payments on their trucks. Covers independent contractors; Not required by law; Less expensive overall; The limits, deductibles, and payout amounts decided by the motor carriers policy; Workers Compensation Insurance. WebThe lower cost of occupational accident insurance is attractive for businesses, but there is additional risk that must be considered. The company distributes, Are you a resident of California, and you need an auto insurer? Occupational Accident has been a work injury solution for independent contractors in the trucking space for over 25 years. However, non-employee drivers dont have to be covered by workers compensation insurance in most states. CLAIM PROCEDURE FOR OCCUPATIONAL ACCIDENT INSURANCEAny doctor may treat you. Business owners want to focus their time and energy on the "business of their business" and not on the "business of employment." Youll be able to choose a policy limit, disability coverage and deductible. OAI is used as a substitute for workers comp in these situations. Most state laws dont require companies to provide workers comp insurance for independent contractors. Contingent liability coverage can protect your trucking company should an owner-operator initiate an action claiming to be an employee, rather than an independent contractor, and demanding workers compensation benefits. As businesses grow, most owners do not have the necessary payroll and accounting skills, regulatory compliance knowledge, or a back ground in risk management. Survivors Benefit Lump Sum + $1000 MTH UP TO 125 Months, $450 VBATruckers - Individual & Group Occupational Accident Plans Drivers receive additional support for work related injuries with the following services: Learn more about our Occupational Accident services. Occupational accident insurance is an alternative way to fund the employer's obligation to the Independent Contractor. Personal Injury; Dog Bite; Birth Injury; Brain Injury; Slip and Fall; Whiplash; Workplace Injury. Occupational Accident Insurance for Truckers Workers Compensation pays for employees medical expenses and lost wages. This allows you to focus on the company's core competency and grow the bottom line. The only responsibility you have is to report your hours to your PEO dedicated payroll contact. Occupational Accident Insurance Coverage | Trusted 71% of their customers rated their service quality as excellent. Truck Insurance Occupational Accident OTTO INSURANCE 2023 REVIEWS: Is It Legit? He is a licensed P&C insurance agent. Great Northern Insurance Agency| Best 2023 Reviews, GREAT FLORIDA INSURANCE COMPANY: Reviews and Ratings, IS MERCHANTS INSURANCE A PERSONAL OR BUSINESS INSURANCE? OAI is not an option in some states because they dont allow businesses to meet or replace their workers compensation obligations through OAI. 5 years It covers your rig 24/7, whether operating for personal or business use. Texas and Oklahoma allow an employer to opt out of the state's workers compensation law. Most workers compensation insurance policies cover the following: Workers compensation insurance protects you as an independent contractor not only if you are injured on the job, but it can also protect you from costly lawsuits if a subcontractor is injured on the job. What Is Occupational Accident Insurance? Great Americans Trucking Division does not currently provide any monoline Workers Compensation coverage. To add someone, fill out the application in full and mail in with the applicable fees to NTA Administrative Services, 2201 Willow Avenue, Suite D 224, Signal Hill, CA 90755. The PEO takes on the administrative burden and allows the employer to concentrate on their business instead of payroll, workers' compensation and employment related tax burdens. A PEO traditionally has a high deductible workers' compensation policy that allows their clients to reap the benefits of being larger. The employer retains responsibility for hiring/firing, product development and production, business operations, marketing, sales and service. Even if an employee chooses to take time off under the Family and Medical Leave Act, the employer cant make them use all of their earned time off. WebAn occupational accident insurance policy gives the employer the means to fund most or all of this obligation at a lower cost than a workers compensation policy. Here are some interesting facts about how and why employers choose this coverage: With a workers compensation policy, you get statutory benefits, but with an occupational accident insurance policy, you must make the following choices: As a motor carrier you will be responsible for any legal obligation to an Independent Contractor not covered by an occupational accident insurance coverage. We have evolved into a highly respected, The cost of OAI will vary depending on the insurance company. Thereafter, you will only pay the monthly fee (Plan A $147.00 or Plan B $126.00) plus a small administration fee ($5.00).This is a month-to-month policy. Safety Experts & Consultants, Trucking Industry Defense Attorney Firms. OAI coverage is a type of accident insurance that is similar to but not as comprehensive as workers compensation. What exactly does an E&O policy offer? Contingent liability coverage can protect your trucking company should a driver initiate an action claiming to be an employee, rather than an independent contractor, and demanding workers compensation benefits. What Is Occupational Accident Insurance? & Its Coverage? Owner Operator Plans: age 23-70, Truckers Occupational Accident Insurance pays benefits for injuries sustained in a covered accident, $1M Accident Medical Expense, $0 deductible. Our mission is two fold. Download the driver handout. Occupational accident policy premiums for truckers with limits between $500,000 and $1 million can range between $60 and $160 per month per operator. Fax: 562-279-0566 and 800-810-6998. Travel to job sites, changing work environments, and a diverse client base keeps you on your toes. If a serious accident occurs, your primary concern should be recovering from the injury and not financial loss such an accident can cause you. Web800.821.5401 Independent Contractor Insurance Coverages 2-Wheel Delivery Vehicles: $150,000 CSL On-The-Job Accident Medical Benefit $150,000 ($250 deductible) Temporary Total Disability Benefits are based on 75% of the Average Weekly Earnings up to a maximum of $500 per week. If you are injured on the job or while performing contract work, you may be responsible for covering your own medical expenses and left without a safety net while you recover. per month / per driver. This What Is The Farmers Truck Insurance Exchange. Call 405-860-6323 Helping truckers recover from accidents Helping truckers get back to work ASAP Owner-operators or businesses that contract to owner-operators may want to contact their insurer to see if they offer this form of insurance. However, if you opt out of all or part of your state's workers compensation program, you assume liability for the same benefits you would have available to you under a workers compensation policy. Explore Our Commercial Trucking Insurance Products - 1st Guard Why arent some employees covered by workers compensation? You retain ownership of the company and control its operations. Occupational accident insurance is normally divided into several areas: Alternatively, the policy may have a combined single limit that will have one lump sum available to pay benefits in all three areas. Make your check payable to NTA Administrative Services (which is a separate company from NorthAmerican Transportation Association Inc) and remit to: NTA Administrative Services, 9120 Double Diamond Parkway, Ste 346, Reno, NV 89521. Workers compensation insurance is required in most states. Use our product concierge to personalize your search to your specific needs. Employers are not required by state law to purchase coverage for independent contractors. occupational accident insurance for truckers The greater the benefits provided, the higher the premium. When someone is injured on the job, most people assume workers compensation insurance must be investigated for claims purposes. Hemorrhoids Coverage (Life Time Maximum Amount), $10K Web$500,000 Occupational Accident Plan Eligibility: You are eligible if you are a current, dues paid member of Owner-Operator Independent Drivers Association, you are 18 or over, Companies in the trucking industry use occupational accident insurance to provide benefits to owner-operators who are not employees. The premium amount will also be determined by your industry, the number of employees, and your history of accident claims. Occupational accident coverage pays for medical expenses and lost wages if you get injured or become ill while driving a log truck. Trucking companies are among the big purchasers of occupational accident insurance. It is mandatory that the Independent Contractor business be a participant in the Master Group. This could save you a great deal of money in the long run. Among these are two main types of commercial truck insurance: workers compensation insurance and occupational accident insurance. Just ask your local independent insurance agent to contact an NTA agent who can provide the assistance you need to address your risks and concerns. Second, contractors who work for a company but are not full-time employees are not usually covered by workers compensation. Added benefit of OAI:OAI also provides a limited level of protection to employers if an independent driver who becomes injured claims to be an employee who is eligible for workers compensation benefits. Buyers of OAI have more options than those offered by workers compensation. Businesses can assume less risk, and independent contractors have peace of mind that theyre protected while on the road. Customize your coverage with a variety of options available to provide even more protection: occupational disease, hernia, occupational cumulative trauma, emergency evacuation and more. An amount available to pay medical benefits arising from a single accident, Accidental death and dismemberment benefits, normally limited to a multiple of the employee's annual salary, Disability benefits that will pay part of a disabled employee's salary for a certain period of time. Great American offers coverage in those jurisdictions, when the Motor Carrier is sponsoring a Great American Occupational Accident program. A significant negative of OAI is that it doesnt reduce the risk of lawsuits by employees from work-related injuries as much as workers comp does. Whether you're looking to protect a single Independent Contractor or hundreds, we focus on helping drivers get well and return to work as quickly as possible. 5 Best Occupational Accident Insurance for Truckers for If you run a trucking company, this coverage can be beneficial for several reasons: Because benefits are not mandated by law, occupational accident insurance is more flexible than workers compensation.

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