A business takes out workers compensation insurance to pay for the medical care of an employee who gets injured while on the job. Workers comp not only pays for the worker’s medical care, but it also replaces some of the worker’s lost wages, if the employee must take off time because of the workplace injuries sustained. If an employee dies because of a workplace accident, workers compensation insurance pays death benefits to the employee’s dependents. It is important to note that this coverage may also apply in the aftermath of a natural disaster or even an incident of workplace violence. Concurrently, the insurance coverage protects an employer, who observes appropriate workplace safety procedures, from suffering undue financial damages in the aftermath of a civil suit.
Insurance premiums are primarily determined by a company’s line of business. A tree trimming operation pays higher workers compensation insurance premiums, in keeping with the inherent danger of the profession, than a secretarial staffing agency would be asked to pay. Another aspect to consider is the location of the business. ZIP codes with high incidents of natural disasters, crime or catastrophes will usually be assessed with higher premiums. Remember to also factor in a business’ claim history; companies that file fewer claims are usually rewarded with lower premiums.
Businesses may purchase workers compensation coverage from a private insurance company or from a state-run agency. Some states mandate that this coverage may only be purchased from a small pool of vetted agencies. It is important to note that this coverage is inherently separate from any business ownership policy that a company may otherwise purchase. If a company has a high number of claims, commercial carriers may decline to cover the business for workers compensation. In these cases, a company may have to purchase the policy by joining an assigned risk pool, which greatly increases the cost but guarantees that the business is able to purchase legally mandated coverage.
It is with great pride that we represent contractors. We understand that the cost of insurance for tree service can be overbearing and hard to secure. Independent agencies like ours offer you an advantage. We network with many providers, continually building relationships with insurers to provide better products for our clients.
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Running your business, an accident can happen at anytime. You need to know that when and if something happens that you have a financial plan to back it up. You will always receive the best prices and coverage available due to our knowledge, experience and relationships. Work with an agent by calling our office 800-253-7040. We cover 46 states including tree service insurance in California, Florida, Texas, Arizona and Louisiana.
The Cost of Workers Comp for Tree Service
The cost of workers comp is largely determined by class codes. A class code separates employees by occupation. Tree trimming, pruning and repair class codes are different in price than office workers.
Here are a few examples of workers and services of tree companies
- Tree Trimming, Pruning and Repair: climbs, cuts and removes trees from property.
- Landscaping and Grounds Maintenance: install shrubs, trees and responsible for lawn care.
- Machine Operator: operates bucket trucks, cranes and machinery.
- Office Workers: work in the office or at a desk.
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