Workers’ compensation insurance is vital to protect your business and in most states, is mandatory. This coverage responds when injuries or illnesses occurs as a result of duties performed on the job or while at work. Some of the injuries that would be covered include injuries caused by lifting heavy equipment, slipping on a wet surface, or injury due to fire or explosion. Protect your business from a lawsuit and your employees from loss of income. Contact us to tailor a worker’s comp plan that works best for your business.
There are many companies we can quote your worker’s comp coverage with to be sure you are receiving the most competitive rate. It may be best with combined with your other policies, or it may be more competitive with a different company all together. It depends on the type of work being completed and the classification of business to figure out which company may fit best.
It is also very important as a business owner to make sure an accurate payroll figure is listed on your insurance policy. It can be very difficult to know what your business’s annual payroll will be, but keeping it close will make audit time a much easier process. The insurance company will audit your payroll after the policy term expires in order to make sure they have collected to correct premium. It can cause a credit, or an amount of premium owed to the company at the end of the policy term. Having a factual figure for this will ensure your premium is as accurate as possible and will be discussed during the quoting process.
Reach out to Snyder Insurance Agency in Bethlehem, PA to help with the worker’s compensation process.