Expert answers to all your business insurance questions.
Can I exclude owners and officers from coverage in Nevada?
You already know who needs workers’ comp coverage in Nevada. (Basically, if you run a Nevada business with at least one employee, you need workers’ comp.)
Now, it’s time to cover who doesn’t need to be on your policy—that is, who are you legally allowed to exclude from workers’ comp coverage? Your business partner? Your corporate officers? We’ve got answers and instructions.
Do you have business partners?
Any business partners in Nevada will automatically be excluded from workers’ comp coverage. But they can choose to be included in coverage, if they wish. To do that, they’ll fill out an election of coverage form (D-44) which you’ll submit to your insurance company. (If you’re insured with a traditional company, you’ll likely need to sign a physical document. With Huckleberry, this process is online and super easy.)
Does your Nevada business have corporate officers?
If your business is organized as a corporation, any officers are automatically included in workers’ comp coverage. However, they can choose to remove themselves from the policy by filling out a D-43 form which you’ll submit to your insurance provider. (Again: if you’re with Huckleberry, you’ll do this online.)
Now, if your company officers choose to remain on your policy, their premium (and potential lost wages payout) will be based on a minimum of $6,000 per year and a maximum of $36,000 per year in payroll.
Can you exclude LLC members?
In Nevada, LLCs are treated the same as corporations from a workers’ comp standpoint—that is, your LLC members will automatically be included unless they submit a D-43 form. (As with corporations, the premium for these members will be based on a minimum payroll of $6,000 per year and a max of $36,000.)
If you’re a sole proprietor, can you exclude yourself?
Actually, sole proprietors aren’t required to purchase workers’ comp in the first place. If you’d like to elect coverage for yourself, though, you can fill out a D-45 form. (Keep in mind that workers’ comp is not a good replacement for standard health and life insurance products.)
Did you find what you need? Great. If you’re ready for an instant estimate on workers’ comp, we can get you one in less time than it takes to brew a cup of coffee. Everything is online. Everything is easy.
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