Workers Comp Savings in 120 Minutes – One For Company Piggy Bank
A Workers Comp savings plan should not cost hours of your time. One of the first premium reduction questions that we often receive in inquiries is how can we cut our Workers Comp costs and not spend days/hours/weeks on it.

There are no quick fixes in reducing WC premiums. In our experience, we have found four ways to efficiently and effectively cut an employer’s insurance program costs.
- Explore all your insurance options. Obtain quotes from several different sources. We recommend that you have more than one agent explore the market for all lines of insurance, not just WC. A certain independent agent may not be able to write with all the insurance carriers. An agent that works with one carrier, of course, cannot explore coverages outside of their employer.
- Make sure your agent, insurer, or state fund completely and accurately understand your business and its operations. We have seen so many employers being overcharged as their agent and/or insurer just placed the companies into certain categories and left them there year after year, even as the employers’ businesses evolved. What your business did 10 years ago may not necessarily reflect your current company.
StockUnlimited Check with others in your line of work. A company that produces the same product or service as your company may be receiving a better deal on their insurance coverages. An association is a great avenue for this recommendation.
- Join an association. The statistics that we have generated show employers that have joined an association with similar companies tend to have lower Experience Modification Factors (E-mods) than their counterparts that were not a part of an association. The basis for this finding is still unclear, but the employer/association trend is very strong in favor of being in an association.
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