Bring Your Workers’ Comp Premiums Down
As a small business owner, you know that you need workers’ compensation coverage. In addition to the legal requirement to carry it, you know that this type of policy will protect your staff if they get injured and protect your business against the expense of caring for them. Knowing you need this coverage does not necessarily mean you like paying for it, though. To help you keep your premiums low, use this guide on how to save on small business workers’ compensation.
- Implement A Return-To-Work Program: With this type of program, everybody wins. Your injured employee gets to get back to work and a normal life sooner, you reduce your business’s need for a temp, and your insurer’s costs go down because you shorten the amount of time your claims are open. Show your insurance provider your return-to-work program, and they should show you savings.
- Group Up: Group rates will offer you significant savings, and even the smallest business can get them by teaming up. Join a trade or industry association with at least 300 members and get your coverage with them, or partner with a few other businesses with similar risks to get your policies.
- Talk To Your Agent: Invite your agent to come to your workplace and point out potential hazards to you. By remedying them, you minimize the risks in your workplace and consequently, your insurer will be able to minimize your premiums.
These tips will help you save some, but connecting with an expert can help you dig out hidden discounts to keep even more money in your company coffers. To work with an agent who can help you get the right workers’ comp at the right price, contact Weeks & Associates Insurance Services in Thousand Oaks, California.