You may know someone who was injured on the job in Crawfordville, Havana, Monticello, Quincy, Tallahassee, FL, and the surrounding areas, and their workers comp insurance is helping to cover various costs. If you have employees at your business or organization, chances are that you need to speak with us a Pichard Insurance Agency as you need to have workers comp insurance in place. This is a very helpful insurance product for both the company as well as the employees as it essentially provides for no fault coverage, meaning that if an employee is injured or made ill at work the insurance will kick in and provide coverage right away without needing any dispute from the employer. Contact us today to review your workers comp insurance.
How To Determine Your Level of Insurance Needs
Workers comp insurance cost is determined by several factors rather than just being a single price for everyone. Your state will have a minimum level of workers comp insurance that you will need just to be in compliance, and we can help you understand what that is. Beyond this will be the number of employees that you have at your business. Having more employees will necessitate that you have more insurance coverage. But things don’t end there.
The age of your workforce can play a role in your insurance needs, as will the type of work that your business does and the associated risk with that business and industry. All of these together will combine to allow insurance companies to quote you a rate. Because we are an independent insurance agency we work with multiple insurance companies and can provide you a range of quotes so that you know you are getting the best plan.
How Your Coverage Will Be Quoted
When you plug in all of the data that each insurance company will need to provide you with a quote, you will get back figures that quote you the cost per $100 of employee payroll. In this way you can directly compare different quotes so that you understand what each insurance company will cost you. Your past claims history will also be a factor in this number, as will your classification rating. From this equation you will get your insurance quotes.
Many businesses will engage in ways to help reduce the workers comp insurance rates in Crawfordville, Havana, Monticello, Quincy, Tallahassee, FL, and the surrounding areas. Workplace safety trainings, safety equipment, and dealing with known hazards quickly are three main ways that businesses can help keep their workers comp rates lower. Work with our team at Pichard Insurance Agency to have us help you find the best rates and best coverage as well. Contact us today to review your workers comp insurance needs.
