Premiums are primarily determined by the type of service that you provide. A transportation company pays higher premiums that an office worker because of the dangers of the profession. Additional aspects to factor into the cost are previous claim history and location of the business. Companies that have fewer claims typically are rewarded with lower premiums.
Workers Comp is business insurance and it is up to the business owner to pay for coverage. Transportation companies can purchase a stand alone policy or PEO/Employee Leasing service from a private insurance company. This coverage is separate from any other type of liability or health insurance that you may already have.
If you run a multi-state operation, you must abide by local laws in all states that you do business. If you anticipate regular travel to another state, it is possible to buy a policy that declares other states as a potential work location.
If you are a small transportation company looking to purchase workers compensation, a stand-alone policy may not be the best option. PEO/Employee Leasing can be a better solution because it is easier to secure and the policy grows with the business. Stand-alone policies are the most requested type of coverage but are not easily obtained unless you run a large operation. Speak to an expert about whether PEO/Employee Leasing or a Stand-Alone policy will be better for your company call 800-329-2040.
Do not hesitate to call or request a quote. We provide straightforward advice and recommendations. We will do our best to find you a better product that reduces your cost.
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