Workers Compensation Insurance
This has become a hot topic this year! Two of the biggest players in 2016 are going to be “Travelers” and “The Hartford”. Travelers late in 2015 had a rate DECREASE by 30% for many industries. Then dropped again in January of 2016. They purchased a safety company called www.riskcontrol.com they offer free risk control to help minimize risk (accidents) AND minimize your out of pocket expense for workers compensation insurance. Underwriters are the people who decide the price you’ll have to pay for workers compensation insurance. They love nothing more than to see your company’s safety program and your loss history. If you show you’re doing all you can to keep your workers safe, the insurance companies will reward you for such measures by giving you a discount on your workers comp insurance. Hartford, though a bit more picky, has always been a big hitter when it comes to work comp. You will need a good agent to know how to pitch it to Hartford, as well as know how to get Hardford to place in the lowest rated category for them. If you are not currently insured by Travelers or The Hartford for your Workers Compensation Insurance, then you are going to lose out on some HUGE savings this year. These companies can only be quoted by “Independent Insurance Agents” or brokers. I am both an independent insurance agent as well as an insurance broker. It just depends on what classification of insurance we are looking at.
Workers Compensation Insurance Discounts
Some of the things you can do on your own I have listed above. You can contact an independent insurance agent or a broker like myself so they can shop the various insurance companies out there for you. You can implement a safety program. There are so many tools for this even on OSHA’s website they have Safety and health Topics, broad training, SHARP, FREE On-Site Consultations, the list goes on and on. If you can perform these on a weekly basis, and keep a track record with names of employees who have attended weekly onsite safety trainings and show this to your insurance company, then you’re going to love them and they you. You can purchase a safety program through us we charge $700 a year for. This allows you to assign an employee per week a safety topic to share with his crew, office, etc. An email will be sent out with OSHA topics and ways to stay safe. The important thing is that you don’t have one safety guy. It is important to have everyone become aware of their own safety and the safety of others, rather than just when the safety guy is walking around. Nothing will reduce workplace accidents than a weekly safety meeting with employees taking turns of being in charge of the topic for the week. If you’re paying one person to be your safety man I can help you cut the cost of having that employee by introducing this safety program. Again, if you don’t have a safety program, chances are you are paying too much on your workers compensation insurance.
For more questions on Utah workers compensation insurance rates, prices, or information don’t hesitate to email, call or schedule a time for us to walk with you through your workplace to help you save money, but most importantly protect your employees.
Call or Text 385-204-6762
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