We are a new small business. Where is the best place to get workers compensation insurance?
Just looking for an insurance company (private sector?) who provides affordable workers compensation insurance for small businesses.
If you're a new small business, your best bet is the state workers insurance fund for your state. If you were NOT new, the best place would be the same insurance company that's providing your liability coverage, but being new, they will probably refuse to write the comp.
That's the problem – with a new company, it's not about who's going to give you the best rates – it's about who's willing to write it.
Depending on the type of business you have, the rates are all usually in the same ballpark, even if you WERE able to shop it out, which you aren't.
I'd still go to the agent who writes your liability insurance, and ask them to write the comp. It will end up in the state fund, though. If you don't have liability coverage, lots of luck – no one wants to write stand-alone comp, it's a lot of work, and not much money.
Sometimes the insurance covers employees but not the employer.
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Use a insurance broker to help you find the best fit for your company.
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well if you are in iowa and do business in iowa call us at 515-285-0370. otherwise find an independent agent that offers business insurance and see if they offer wc. you may also check your states pool.
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me
Your best bet is to go through a broker, your job is to keep your small business in business. Go find a broker to do all the work for you so he/she can get the best possible insurance for the best price.
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Contact a local independent insurance agent who can obtain quotes from several different companies and compare price, coverage & services.
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If you're a new small business, your best bet is the state workers insurance fund for your state. If you were NOT new, the best place would be the same insurance company that's providing your liability coverage, but being new, they will probably refuse to write the comp.
That's the problem – with a new company, it's not about who's going to give you the best rates – it's about who's willing to write it.
Depending on the type of business you have, the rates are all usually in the same ballpark, even if you WERE able to shop it out, which you aren't.
I'd still go to the agent who writes your liability insurance, and ask them to write the comp. It will end up in the state fund, though. If you don't have liability coverage, lots of luck – no one wants to write stand-alone comp, it's a lot of work, and not much money.
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any full service insurance company……..ask the insurance company that is providing your liability and other insurance, they should be able to write it up for you or refer you to a good company.
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Let a broker do the work for you.
It will not usually cost you anything as the insurer will pay the broker's charges and the broker will shop around (if he is any good) and find the right plan for you.
Some brokers also go out of the way to fit "non-standard" insured's by insuring risk through overseas underwriters like Lloyd's.
Since they're free and more expert than you, It makes more sense to let the broker do the work and present the top 3-5 underwriters to you.
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http://www.independentagent.com/na/default?ContentPreference=NA&ActiveTab=NA&ActiveState=0
This site is the Independed Agent/Brokers Association…They have a search function to list brokers in your area