Advantages Of A Regular Workers’ Compensation Market Review
Your busy building your business; often reviewing your commercial workers’ compensation insurance seems like going to the doctor. Besides your costs did not go up that much this year, right? Paying your insurance premiums isn’t always enough. Having the right combination of coverage and price is one of the most important things you can do regarding for your business.
We recommend a regular market review of your business insurance, including your workers’ compensation plan. Here are some of the advantages or reasons to do that.
- Sometimes insurance company’s miss classifies your account. If you have the wrong class code, it could be costing you thousands of dollars every year.
- The workers’ compensation market changes with new insurers coming in the market. New insurers usually will have higher credits to attract new business.
- As your business changes, your insurance coverage needs to change with it. A regular review of your program can help provide the right kind of coverage. For example, you may have added a location out of state. This may not be automatically covered.
- Part of the market review can be an analysis of claims. If we can reduce the claims cost, premiums will follow.
- An insurance review makes sure all your coverage and limits are the best the market will afford. Competition is generally good for the consumer.
Berry Curtis Insurance is a family owned and operated insurance agency dedicated to providing quality insurance solutions to clients near Redding, California since 1986. When you work with Berry Curtis Insurance, you’ll experience the exceptional service and attention to detail that you can only find with an independent insurance agency.