As a business owner, you should be constantly looking for ways to save. Whether one is attempting to save on energy in the office or save some money on insurance premiums, the extra cash will always be a bonus. As your reliable agency, we have put together a quick list of tips that you should take advantage of. When it comes to workers compensation, CT business owners know that it is not an optional policy. While you cannot axe it, you CAN lower it!
Here are a few tips that may result in a lower workers comp premium:
• Double check your classifications. Incorrect classification and errors will result in a higher premium.
• Make sure you update your policy every year, especially if there are changes!
• Do your best to create a safe work environment. The less accidents and injuries, the lower your premium will remain.
• Do not fall for fraud workers compensation claims! This is a sure way to jack up your premium.
• Minimize the risks in the office with safety equipment, gear and extra features. Make sure your agent knows of these efforts.
• Invest in an employee safety seminar program. You may end up being eligible for a discount.
• Put a return-to-work program in place to ensure that injured employees are back in the office as soon as possible.
As you can see, there are a few different options when it comes to lowering your workers comp premium. If you have not tried any of these tips, now is a good time to start!
If you have any other questions about workers compensation in CT or are looking for a free quote, contact us at Paradiso Insurance. We would be more than happy to speak with you!