How To Lower Work Comp Premium: Factors That Impact & Tips To Save Money
Prices are soaring across nearly every vertical in every industry and insurance is no exception. For the past year, or so, we have been in the throes of a “hard market”; meaning rates have increased, insurance companies have accepted fewer risks, and underwriting standards have become more strict. Bottom line, if you’re not a “squeaky clean” business with A+ safety and operating standards, you’re likely to be impacted by increasing rates and premiums. Hope is not all lost, though, as there are steps you can take to make your business a safer place to work and, in turn, make your Workers Compensation premiums fall. Let’s explore what factors into your premium and tips to help keep your policy affordable.