Ghost Workers Compensation Policy Explained

What is Ghost Work Comp? | Workers Comp “Gotcha”? | Ghost Policy Reqirements | Pre-Approved Business Types | Owner – Partner – Member – Officer | Hiding Payroll

SPECIAL NOTE for North Carolina Customers

Ghost Workers Compensation Policy Starts here

Contractors starting out or trying to work for a General Contractor are being required to have workers comp and general liability insurance.  Call us for Workers Comp that is $200.00 down payment and 8 monthly payments of $100.00.  In Tennessee, the Workers Comp price is $150.00 down payment and 8 monthly payments of $75.00.  The type of work you do as a contractor needs to be on this list, click here

Start your application for a ghost workers comp policy here.  This process will initiate conversation with our office NOT a call center and we do not sell leads.  We provide Ghost Workers Compensation insurance solutions!

Application-General Data

1. Business Name
2. Type of Business Please Choose Sole Proprietor Partnership LLC Corporation S-Corp Non-Profit Joint Venture Religious Org Professional Assoc Governmental Entity Trust
3. Your Name(required)
4. Email(valid email required)
5. Phone Number(required)
6. Years Experience

Physical Address

1. Physical Street Address
2. City
3. State
4. Zip(required)

Mailing Address if Different than above (skip if same)

1. Mailing Address
2. City
3. State
4. Zip

Policy Info

1. Proposed Effective Date
2. States to be included in coverage
3. Preferred Coverage Amount 100,000/500,000/100,000 500,000/500,000/500,000 1mil/1mil/1mil

Rating Information

1. Workers Comp is priced based on EMPLOYEE PAYROLL. Ghost workers comp assumes a Payroll of "0" (Zero).
2. Do you have employees?
3. Yes No
4. How Much Payroll is Anticipated for the above "Employees"
5. Do you use subs?
6. Yes No
7. How often do you use subs?
8. Never Few times a year
   Few times every 3 months Few times every Month
   Few times every Week Every day
   

Individuals to be included/excluded from coverage

1. Owner's or Partner's Name (required)
2. Owner's title LLC Member Owner President Secretary Tresurer Vice-President Partner (required)
3. Include or Exclude Exclude Include (required)
4. Owner's or Partner's Name
5. Owner's title LLC Member Owner President Secretary Tresurer Vice-President Partner
6. Include or Exclude Exclude Include
7. Owner's or Partner's Name
8. Owner's title LLC Member Owner President Secretary Tresurer Vice-President Partner
9. Include or Exclude Exclude Include

Nature of Businsess

1. Describe BusinessExample: Plumber or Electrician, or siding installation or Deck repair.

Validation

1. Ten minus five equals

 

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NOTE: In Georgia, they now require the WC-10 exclusion form to be notarized.

Ghost Workers Compensation Policy is a weird insurance.  Ghost Workers Compensation Policy provides coverage for the business and provides proof of workers comp insurance to those the contractor works.

Home owners, General Contractors, Business owners, Property Owners- all may require proof of workers comp and general liability prior to letting the contractor work.  A Ghost Workers Comp policy provides proof of workers comp.

The strange issue about a Ghost Workers comp policy is that is EXCLUDES the owner from coverage.  The Insurance company is also told that there are no employees.  The result: No Employees = assumed no cost in the workers comp policy for payroll to employees.  No coverage for the owner = The owner has excluded himself/herself.  So the policy is only a Ghost of coverage… BUT, in today’s world most still view the Ghost Workers Comp policy as a “barrier” to keep the business owner or any employee from filing a claim against the business owner, home owner, or property owner.

So, NCCI sells a Ghost Workers Compensation Policy for $1,500.00.  Our Ghost Workers Comp policy has a price of $1,000.00.

The NCCI policy requires a single payment for the full amount.  Our policy requires a down payment of $200.00 and 8 monthly payments of $100.00.

So prior to buying a NCCI policy, review our requirements and see if you qualify.  If so, give us a call or submit the online application for a prompt response to your Ghost Workers Comp Insurance Solution.