How Do You Get Workers Comp Insurance For My Business?

[elishua71]

is it the same price to get workers comp insurance throw an insurance agent or directly.whats better do it throw my agent or my self, or is both the same price but insurance broker gets a cut from the workers comp bord

[Aelfdene]

First get a Federal ID #. Then go to an insurance agent. Rates go by the type of business. It's worth having an agent. He'll mail out or fax proof of insurance cert.s to customers.

[Elkanah]

I prefer using a broker When I had a small business I let my insurance broker handle everything from insurance on the physical plant to worker?s comp. It was better because he knew what he was doing and I was pretty much clueless. I had enough other things to do that I was grateful to have him take care of this technical matter.  Of course, I?d worked with this broker for several years and had a great deal of faith in him. He?d always gotten me the best price on other types of insurance so it seemed likely the same would be the case with worker?s comp. By letting him arrange for this it was done right and I'm confident I paid a reasonable price. Here?s a site that appears to work like Lending Tree but for worker?s comp quotes. I haven?t tried it so I don?t know how valid the results are. There?s another, similar service here. There?s a bit of good advice about buying the insurance in this article. Sardis 73 months ago Please sign in to give a compliment. Please verify your account to give a compliment. Please sign in to send a message. Please verify your account to send a message.

[Tuari]

When I had a small business I let my insurance broker handle everything from insurance on the physical plant to worker?s comp. It was better because he knew what he was doing and I was pretty much clueless. I had enough other things to do that I was grateful to have him take care of this technical matter.  Of course, I?d worked with this broker for several years and had a great deal of faith in him. He?d always gotten me the best price on other types of insurance so it seemed likely the same would be the case with worker?s comp. By letting him arrange for this it was done right and I'm confident I paid a reasonable price. Here?s a site that appears to work like Lending Tree but for worker?s comp quotes. I haven?t tried it so I don?t know how valid the results are. There?s another, similar service here. There?s a bit of good advice about buying the insurance in this article.

[Perceval]

I?m really not sure if insured?s can go directly to a company for Work Comp coverage, unless it is a pool.  You might be better off getting an agent that can go directly to a company.  If you get an agent that has to then go through a broker to get to the company, then yes, you will have a higher premium because the broker AND the agent will each be getting their own cut.  I wouldn?t go that route.  You need to find an agent that can go direct, but they will of course get a commission.    One thing to keep in mind is that there are different codes and rates for Work Comp coverage.  It depends on what your business is and how many people are employed.  One class code rate could be $14 per $100 of payroll, while another class code rate is $3 per $100 of payroll.  There are certain class codes that some companies won?t write and it will be hard to find coverage for those. (Usually things like elderly care)   Depending on the size of your business, you might want to look into finding a Work Comp pool.  A pool(if you don?t already know) is where everyone pays a premium and the money is pooled together to pay any claims.  I found a recent article regarding NY pools and new changes.   http://www.insurancejournal.com/news/east/2007/12/11/85557.htm   You can also choose to self insure if you have a small company.  You would need to set a budget for Work Comp and keep that money off to the side.     You can check out these websites for more information:   http://www.workerscomp.com/site2/   http://ww3.nysif.com/     I can?t really find any other websites at the moment.  However, if you choose to find an agent to help you, I highly recommend Salerno Brokerage.  I?ve worked with them in the past and they are great!  They are located in Syosset, NY.  You need to call Phillippe Rameau at 516-364-4044 ext. 208  He can help you.    http://salernoins.com/products.html      

[bothan]

Hope this helps... I?m really not sure if insured?s can go directly to a company for Work Comp coverage, unless it is a pool.  You might be better off getting an agent that can go directly to a company.  If you get an agent that has to then go through a broker to get to the company, then yes, you will have a higher premium because the broker AND the agent will each be getting their own cut.  I wouldn?t go that route.  You need to find an agent that can go direct, but they will of course get a commission.    One thing to keep in mind is that there are different codes and rates for Work Comp coverage.  It depends on what your business is and how many people are employed.  One class code rate could be $14 per $100 of payroll, while another class code rate is $3 per $100 of payroll.  There are certain class codes that some companies won?t write and it will be hard to find coverage for those. (Usually things like elderly care)   Depending on the size of your business, you might want to look into finding a Work Comp pool.  A pool(if you don?t already know) is where everyone pays a premium and the money is pooled together to pay any claims.  I found a recent article regarding NY pools and new changes.   http://www.insurancejournal.com/news/east/2007/12/11/85557.htm   You can also choose to self insure if you have a small company.  You would need to set a budget for Work Comp and keep that money off to the side.     You can check out these websites for more information:   http://www.workerscomp.com/site2/   http://ww3.nysif.com/     I can?t really find any other websites at the moment.  However, if you choose to find an agent to help you, I highly recommend Salerno Brokerage.  I?ve worked with them in the past and they are great!  They are located in Syosset, NY.  You need to call Phillippe Rameau at 516-364-4044 ext. 208  He can help you.    http://salernoins.com/products.html       Sources: my career ~Smiley~ 73 months ago Please sign in to give a compliment. Please verify your account to give a compliment. Please sign in to send a message. Please verify your account to send a message.

[Weston]

details First get a Federal ID #. Then go to an insurance agent. Rates go by the type of business. It's worth having an agent. He'll mail out or fax proof of insurance cert.s to customers. drifter 73 months ago Please sign in to give a compliment. Please verify your account to give a compliment. Please sign in to send a message. Please verify your account to send a message.