Colorado Worker’s Compensation Laws and SB178 - What you need to know!
The state of Colorado has mandated expensive worker’s compensation coverage for anyone with the legal status of “employee” for many years. SB178 changes that for truckers. As of August 21st, 2018, significantly more affordable Occupational Accident policies that meet the statutory standard of “similar coverage” can be substituted in place of Worker’s Compensation.
What does this mean for me?
Ideally, more money in your pocket! Cost isn’t the only advantage, to be sure. Occupational Accident Insurance is more flexible than Worker’s Compensation, covers accidents that don’t occur directly in the course of your work, can be tailored more for your specific circumstances. But for most truckers, the main reason to change your policy will be to save money.
How much money are we talking about?
We can’t always guarantee a specific rate without learning the specifics of your need and situation. But on average, an Occupational Accident policy is less than half the cost of a Worker’s Compensation policy. The savings can be very substantial.
What do I need to do?
Just call us! Classic specializes in transportation services, and you won’t find anyone more up-to-date on industry changes and legal requirements. We will find you the right policy, at the best price available, and we’ll do it fast.
Call us today at 888-498-0255