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Things To Ask About Workers Comp

What are the state-specific rules and regulations?
Workers' comp is different in every state. Ask about the laws in your state.

How many employees do you need before workers' comp is required?
Ask about owners, subcontractors and other types of employees such as those you've issued 1099's.

Can the amount of Employer's Liability be adjusted?
This comes with your workers' comp. You may be able to increase or decrease the amount based on your needs.

Is there short-term coverage in another state?
If you're going to move or set up temporary operations in another state, find out if you can get short-term coverage in that state.

How do safety programs impact rates?
Most companies will apply a "credit" to reduce your premium if you have safety programs in place.

Explain how past history impacts rates.
Your track record, called "experience modification," compares you to other companies in your business for claims. The process varies by state, so ask.

Explain how employees are cared for after a claim is submitted.
This may be one of the most important aspects of workers' comp. Ask about each phase of the care and recovery.

Is there real-time payroll reporting?
Premiums are usually paid up-front based on estimated payroll. Real-time reporting is based on actual payroll and lets you pay as you go.

What is the reputation of the insurance company?
Are they A-rated? Ask your agent or go online. Are they reputable, financially secure with a long history? Do they handle claims quickly?

Need help with your business or personal insurance needs? As a member of the VDTA/SDTA you can get expert advice. Contact Association Insurance Programs today at 888-258-6820, extension 172.

Reprinted from Floor Care & Central Vac Professional, November 2012