Quite possibly, the answer is a resounding YES! Most of our clients are shocked to hear that they might be paying more for their California workers insurance than they need to. All because they are with the wrong insurance carrier and no one has told them differently.
There are a lot of reasons for this but the main one has to do with your business insurance provider.
For example, if State Fund provides your Workers’ Compensation Insurance and your employees are not engaged in some of the more dangerous activities such as construction or drilling you should be looking elsewhere. State Fund has to cover any business that needs Workers’ Compensation by order of law. The downside is, when you insure with them you become part of a high-risk pool. As a result, even though you have only clerical workers you are paying more than you have to. If your staff is not in the high-risk categories you should be looking elsewhere.
The Workers’ Compensation industry is changing and there are now more carriers than ever before. In recent years there has been a rise in the number of “niche” carriers. These agencies, because they specialize, can offer lower rates to specific categories of businesses. To help you find one click here and let us do a quick search for you. Renewal time is probably close at hand. Find the lowest cost carrier before your renewal comes due.
Finding the right carrier is a major way to insure that you are paying the lowest rate possible for your business. Don’t pay high premiums to cover someone else’s high wire act.