Are You Being Overcharged for Your Workers’ Compensation Insurance?

Posted on: August 24th, 2011 by Leaders' Choice Staff No Comments

Workers_Compensation_Rip_OffHere Are Some Potential Red Flags.

Buying Workers’ Compensation Insurance is like buying any other insurance. We all want lower workers’ compensation costs so you look around for the best deal and you hope that the company you sign with will actually deliver what they promised. But, are you getting the lowest price for your Workers’ Compensation insurance? Here are a few indicators that things may not be what they seem.

Now understand, this does not mean that you are being over charged. Still, if more than one or two of the following is taking place you should take a closer look.

Has the business changed ownership?   New owners frequently make the kinds of changes that will increase their bottom line. If the company you dealt with in the past has changed ownership, management, or business model it’s now a different company. Same name sure, but you should really take a closer look. Chances are some of those bottom line changes are coming out of your own bottom line.

Watch out for changes in classification. If you’ve been moved up or down there’s a reason for it. Find out what it is and what it means for you and your business. Doing your homework, especially when you are told that something is changing with your Workman’s Compensation rate is a signal that there could be a better deal out there.

And finally, get an annual review of your policy options. Maybe something has changed in your business such as adding or laying off workers. Maybe you’ve made some safety modifications or automated a process. All of these things can factor into your rate. Workers’ Compensation Insurance is mandatory but like with anything else the more you know the smarter the choice you make.

Leader’s Choice Insurance Services has invested heavily in technology that is designed to immediately compare rates among all of the carriers eligable to immediately identify the lowest price policy for you. With thousands of satisfied customers, we pride ourselves in making the process as fast and economical as possible. Ready to get a lower rate? Fill out the form now and be amazed at your savings.