Insurance for Oil and Gas Contractors

Do you need workers comp insurance for oil and gas contractors? Running your business is not an easy task and you need to know that you are protected in case something does go wrong. Onshore or offshore we can help you get covered.

Workers compensation covers you and your employees from workplace injuries. An employee can be part-time, full-time and if needed additional coverage can be purchased for independent/subcontractors. Rules vary state by state, however most businesses will be required to purchase a policy. It is important to note that the only state that does not require coverage is Texas.

The premium cost is primarily based off of the class code and claim history of your company.

• Experience Mod: The experience mod is a measurement of the past accidents and injuries of your company. If you have had very few workplace injuries than insurers will typically reduce the cost of your policy.
• Class Codes: A class code defines the line of work and inherent dangers of the job. Industries that have more frequent and severe injuries cost more to insure. As an example, a clerical worker pays a lot less for workers comp insurance than a roofing contractor.

If you need to purchase workers comp insurance for an oil and gas contracting company here are two ways that we can help you get it.

• PEO/Employee Leasing: If you run a small business, purchasing a policy through our PEO/Employee Leasing services will be the best option. This service collectively covers many small operations giving the small business owner more buying power. It provides flexible payment plans including pay-as-you-go and is typically more affordable than purchasing a stand-alone policy. In addition to workers comp it provides payroll and employee administration. This gives small business owners the means to manage injury claims, fight fraud and control losses.
• Stand-Alone: Purchasing a stand-alone policy is much easier for a large operation. Insurers are more willing to issue a stand-alone policy to a company with a large payroll and high amount of employees. When purchasing stand-alone it is important that you have a clean record including a low experience mod.

Unlike an exclusive agent, we represent a large network of carriers that we shop independently and unbiased. With more carriers, our clients have the ability to find rates that are competitive. Our success has been built upon educating business owners and providing a clear understanding of workers comp. We cover 46 states including insurance for oil and gas contractors in California, Florida, Texas, Arizona and Louisiana. Request a quote online to work with an agent.