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How to Save Money on Your Workers’ Compensation Insurance

Posted by administrator on Monday, May 6th, 2013

How to Save Money

on Your Workers’ Compensation Insurance


As you know, having Worker’s Compensation insurance is not optional, unless you don’t have any employees.  But, if you do, you have to have it.


Failure to provide it could cause your business to get shut down.  That is, after you pay some stiff penalties for operating without it.


But there is no law that says you need to pay more than you are legally obligated to pay.  Yet for a very high percentage of employers, they are doing exactly that.


Instead of taking advantage of multiple, money-saving provisions in the law or techniques that their insurance agent can help with, most employers pay 20 – 40% more than they should.


Why do Most Employers Pay Too Much for their Workers’ Compensation insurance?


  • Very simply put, because they are dealing with an “amateur” instead of a consultant.”
  • Everyone specializes in today’s world.
    • Farmers specialize in growing certain crops.
    • Building contractors specialize is certain trades.
    • Even attorneys, bankers and real estate agents specialize.
    • Shouldn’t we also expect to deal with an insurance agent who specializes?
      • Shouldn’t they be expected to be good enough at what they do to be a consultant for you?
  • Unfortunately, most employers have been trained by their “one-and-only agent” to think that he can do it all. 
  • For most people, dealing with insurance is a
    • “necessary evil” that “all costs the same” anyway,
    • rather than a business expense that can be managed and controlled, just like most other expenses.
  • And since most agents are “generalists” and don’t understand the details of Workers’ Compensation insurance, their clients needlessly throw away thousands or tens of thousands of dollars every year.


Consider working with a specialist, a consultant who can help you to save a lot of money?


For further information or answers to your Workers’ Compensation questions contact:

Doug Nielsen, Work Comp Solutions, Doug@WorkCompSolutions.ORG, (208) 351-8188

 


Comments

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    by Sqiar on 16 February 2014 at 1:07 a.m.