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Workers comp.

Started by Gina722, February 01, 2012, 09:01:07 AM

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Gina722

I need a great affordable workers comp. Can anyone give me some names of places? Ours jumped way to much this year so on the search for new. Thanks in advance.  8)
Thanks, Gina

Tom L

I always thought that workmans comp was a set price. no difference between companies in the same state. I know I have shopped it before and the prices were the same.

you can shop liability and health

Dave VH

here in michigan, my agent told me that comp rates don't change, however different companies can catorgorize you differently which will put you in different percentile.  (comp is based on percentage of paid income to the employee).  Be very specific and clear on what you have the employees doing, and some business setups that includes you.  A lot of agents represent several different insurance companys that may put you in different catagories, therefore different percent tile and different price.  If you have a good long clean record that helps too. 
I cut it twice and it's still too short

SwampDonkey

Comp. here is a government agency. As far as I'm concerned it's pretty much useless. They turn people out to pasture who can't and are unable to work ever again.
"No amount of belief makes something a fact." James Randi

1 Thessalonians 5:21

2020 Polaris Ranger 570 to forward firewood, Husqvarna 555 XT Pro, Stihl FS560 clearing saw and continuously thinning my ground, on the side. Grow them trees. (((o)))

Ron Wenrich

The private companies do that here, as well.  They'll give you a buyout and set you free. 
Never under estimate the power of stupid people in large groups.

SwampDonkey

No buyout here, they just cut you off. Plus, the legislation says they can't sued.
"No amount of belief makes something a fact." James Randi

1 Thessalonians 5:21

2020 Polaris Ranger 570 to forward firewood, Husqvarna 555 XT Pro, Stihl FS560 clearing saw and continuously thinning my ground, on the side. Grow them trees. (((o)))

WDH

The premium is based on your state and on your Mod Rate.  The Mod Rate is calculated from your safety performance or lack of it.  If you have a low number of recordable injuries, your Mod Rate will be lower and that results in lower premiums.  If your recordable injury rate is high, you get penalized with higher premiums.  Performance matters.
Woodmizer LT40HDD35, John Deere 2155, Kubota M5-111, Kubota L2501, Nyle L53 Dehumidification Kiln, and a passion for all things with leafs, twigs, and bark.  hamsleyhardwood.com

Meadows Miller

Gday

Welcome to The Forum Gina  ;) ;D 8) Workers Comp is somehting Jesi and I are going to have to get sorted out down the track so Ill be interested in seeing how this goes whats the % rates overthere like for Logging workers that are on wages ?? overhere alot off blokes are on Contract Rates to do a dedicated task and they have to arrange their own Tax & Insurance and you also have to cover yourself and your Business and Company for some aspects you also have to provide them with all the proper safety & well maintained gear  ;)

Regards Chris
4TH Generation Timbergetter

jueston

Mm it's the same over here about people being hired as contractors, there are companies that don't have a single employee because they hire everyone as an independent contractor so that they don't have to pay for insurance, but there are rules against claiming that an employee is a contractor. I had a friend who got injured while working as an "independent contractor" who was working hourly and there was a government organization that helped her sue the company and they just paid for her medical bills instead of fighting....

bill m

Having the employees duties spelled out specifically and having a comp policy that matches each job description can help keep your rates down. Also don't get talked into trying to claim someone as an independent contractor when they are really an employee. A friend that is a timber framer got caught doing that and it cost him over $60,000.
NH tc55da Metavic 4x4 trailer Stihl and Husky saws

ellmoe

We went to a leasing or payroll company. The rates threw them was much better than we could get for ourselves with  added benefits such as no more payroll checks or reporting, and no dealing withunemployment, etc.. Years before I had tried to get on with an employee leasing company, but they wouldn't take sawmills, now they welcome them. One of my better decisions.

Mark
Thirty plus years in the sawmill/millwork business. A sore back and arthritic fingers to prove it!

Kansas

One thing I know about workers comp is that if you are in an assigned risk pool, instead of being rated on your own, the costs were a lot higher for us. It does seem to pay to shop around, at least here. As stated, not having claims is a great help. Getting everyone in the right category helps. For instance the office manager costs virtually nothing in premiums. Having the right agent go to bat for you finding a better category helps a bunch. Plus if you own the business, or at least half the business, you can opt out.
If its like here, you don't pay workers comp on vacation days, holidays, and you pay on straight time, not overtime. It cost me a fair amount of money not realizing that for several years.

SwampDonkey

Here you pay up front based on the estimate of wages you'll be paying and then settle up at the beginning of the next year where the difference is added or subtracted to the bill. Vacation pay and overtime are part of the wages so, we pay. There is only one outfit, the government, so no shopping involved.
"No amount of belief makes something a fact." James Randi

1 Thessalonians 5:21

2020 Polaris Ranger 570 to forward firewood, Husqvarna 555 XT Pro, Stihl FS560 clearing saw and continuously thinning my ground, on the side. Grow them trees. (((o)))

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