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Workers' Compensation - FAQs
- How can I save (more) money on my workers' compensation policy?
- You can save money on your workers' compensation policy by having a Safety Program, a Drug-Free Workplace Program, a deductible, an FCCPAP credit, lower Experience Modification Factor, correct classification of employees... and Sabal Insurance Group will help you with all of these options.
- Can I pay for my policy without a deposit?
- Yes, there are payment plans that ask for nothing down (except the state expense constant) and others that only ask for the first month's installment, not to be held as a deposit.
- Are there any policies that allow me to pay in a fraction of the annual premium?
- Yes, retrospective rating plans allow you to pay in a percentage of your premium during the year. If you have claims, you pay in additional premium, but no more than you would on a regular plan. If you do not have claims...you do not owe any more money. The percentage can be as low as 30%!
- Can a Workers' Compensation Policy Cost Less Than Employee Leasing Workers' Compensation Coverage?
- Yes, in MANY ways...
- employee leasing coverage does not offer the standard credits you can get with traditional workers' compensation policies.
- employee leasing arrangements charge you administrative fees on gross payroll, you pay workers' compensation on the premium part of overtime - an actual increase in the premium based for workers' compensation.
- you are subject to the leasing company's experience modification factor while you are with them AND after you leave.
- improper coding of employees by non-licensed sales people often results in higher rated codes, etc...
Let's Talk About Your Workers Compensation Needs
For additional information on our Workers Compensation insurance programs, call us at 800 716 9948 or contact us today.