What Private Insurance Company Offers The Lowest Rate In Workman's Compensation Insurance?

[caffar]

I own a single member LLC in California.

My business is graphic design and I would like to hire just 1 employee.

This employee would be doing part-time design work (computer based & freehand drawings) at my place of business.

Since I am a new business owner I have no previous policy.

Can someone please recommend a good, low cost, private insurance company for the required worker's compensation?

By the way, I already contacted SCIF but I prefer to deal with a private company.

Any suggestions?

[cumhea]

You should contact a local independent insurance agent who specializes in commercial lines. My suggestion would be an agent who represents Travelers Insurance Company. Based on the type of business you have, you should have no problem obtaining a Commercial Package policy to include coverage for your Commercial General Liability and Office Equipment. They will also include a separate policy for Workers Compensation and will even quote you an Umbrella and will set up all of these on monthly payments on account billing. The Agent that represents Travelers will also probably be able to offer you quotes with a couple of other companies but Travelers is extremely competitive and will have no problem with your type of business even though you are new.

I hope this helps. Good Luck!

[calvert]

There's no company that offers the lowest rate for EVERYONE.

And none, besides your state risk fund, will give you "stand alone" workers comp - that means, they will ALSO need to write your business insurance.

Most, won't write workers comp for you without three years of loss history. AND, they won't write DIRECTLY - you have to use an agent.

So. You can't do this on your own. But talk to the agent that writes your general liability/package insurance. If you don't have it or want it, you're going to be stuck with SCIF, which, actually, you'll probably be stuck with ANYWAY, because you're a startup with no prior workers comp.

If you want to go private because you don't want to pay your first year in full (btw, it's AUDITABLE, so lowballing payroll now will come back and bite you in the rear), that's not going to work - you can't get monthly payments on workers comp policies, unless your premium is AT LEAST $25,000.