WORKERS COMPENSATION INSURANCE - THE FACTS AND INFORMATION

My name is Jeff Kaplan and I am the president of InsuranceSource.com Inc. We specialize in workers compensation insurance coverage and general liability insurance throughout the United States. Our job is simple. We will advise you on the best workers compensation solutions that are available in your state that meet your needs. We represent many workers compensation insurance carriers as well as NCCI (National Council on Compensation Insurance), assigned risk pool and individual state workers compensation plans.

The easiest way to see if we can help you is to click on your state above

and fill out a short questionnaire.

Not every employer needs workers compensation insurance. In some states small businesses with fewer than three to five employees may not be required to carry workers compensation insurance. However, in today's litigious times you may be setting yourself up for a huge legal bill, unlimited personal and or corporate financial liability, including punitive damages, which could run in the millions. Remember the lady that spilled McDonalds coffee on her lap! Just because your state may not require you to carry workers compensation does not relieve you of the responsibility if an injury or death occurs. Another option in many states is self insuring your company to cover the costs from employee injuries or death. Whether this is a good idea depends on your business, especially your financial state or that of your company.

Workers compensation is priced with the help of NCCI. There are approximately 750 workers compensation codes and most states use the same codes but the pricing will vary by state. Workers compensation premiums are calculated based on each $100 of payroll. For example, a low-risk occupation like clerical might cost 64 cents per $100 of payroll. Premiums rise as jobs become more of a risk, with contractors costing about $12 per $100 and even higher-risk occupations like roofers costing as much as $37 per $100.

If your workers compensation insurance premium is in excess of $5,000, you should have a plan that pays you back a dividend based on your claims history. Our team of workers compensation specialists will assist in determining what program will be best suited for your business.

Employee Leasing and Staffing Companies

Using a PEO or staffing company to obtain your workers compensation may be a good alternative to purchasing your own workers comp policy. In many cases the down payment required to obtain a new workers compensation policy is high and many new businesses cannot afford the down payment. Another advantage, based on my experience, is that you will never get audited because you pay as you go for your coverage. We represent numerous leasing and staffing companies who in many cases offer deep discounts on your workers compensation coverage that you will not find from standard workers compensation insurance carriers.

USL&H & The Jones Act

We have excellent programs for specialty risks requiring this endorsement. Minimum premium for a USL&H endorsement usually start out at $2,500.00 plus the cost of the workers compensation insurance. If you are unsure and want to read either the USL&H or Jones Act I have provided helpful links below for you convenience.

CALL US FOR IMMEDIATE ASSISTANCE:
1-800-224-0718

If you need a quote that requires this coverage

Click Here for a USL&H Quote

Click here for the complete USL&H Act , courtesy of Cornell University.
Click here for: USL&H Web Site - Dept of labor

Read the complete text of the Jones Act here.

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