Workers Comp for Commercial Property Owners

Workers Comp for Commercial Property Owners

Commercial Property Owners often have staff to manage their properties. These employees could be part of a property management company or hired on directly from the Commercial Property Owner. Regardless of who hires these employees, they should be covered under a Workers Comp policy.

Workers Comp for Commercial Property Owners – Who Should Be Covered?

Generally speaking, any employee that is working on your Commercial Property should be covered under a Workers Comp policy. What about situations where these employees are not yours? Well, if these employees are employed by a third party property management company, they should still be covered. We recommend obtaining a Certificate of Insurance to assure there is coverage in case of an injury. This is important because in some cases you may still be held liable for injuries that are incurred by staff working on your Commercial Property.

Workers Comp for Commercial Property Owners – Classifications

There are several classifications that may apply to your Commercial Property employees. For general maintenance and handyman work, the 9009 class code, building operations, is most common. However, if you have employees hired on as full time janitorial or full time clerical employees, they may be eligible for a separate classification. It is critical to look into your employee classifications, as this simple change can reduce your premium by thousands of dollars annually. If you are not sure about how to classify these employees you can check with the Workers Comp Insurance Rating Bureau of California.

Workers Comp for Commercial Property Owners – Important Recommendations

If you do decide to carry Workers Comp for your Commercial Properties, it is very important you maintain continuous coverage, with no lapses. This will show the carriers that you take your Workers Comp seriously, and it may allow you obtain additional discounts on your policy. In addition, it is generally a good idea to shop your policy annually. The carrier rates and guidelines change often, and this is especially true for the Commercial Property class codes. You should work with your Agent/Broker to obtain new quotes every year, as it may save you a lot of money.

If you would like to learn more about Workers Comp for your Commercial Property, give us a ring! You can reach us at 925-297-4829.

All information is general in nature and is intended to provide guidance only. It is up to you to request specific coverage options, the agency and agent do not bear this responsibility. Always read the policy if there is a questions about coverage or a claim. If any information herein should conflict with your actual policy’s specific language, the policy language will be controlling.

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