Workers Comp for Gas Stations

Workers Comp for Gas Stations

Gas Stations on average have a lot of employees. If you own or manage a Gas Station, it is your responsibility to cover them with a Workers Comp policy. These Workers Comp policies can be expensive, but there are ways to make the policy affordable. We will share some tips to help you bring down the cost of your Workers Comp.

Workers Comp for Gas Stations- Classifications

One of the most important aspects of keeping your Workers Comp costs down is correctly classifying your employees. Each type of employee, be it a store clerk, mechanic, or clerical, all have different class codes that apply to them. If you incorrectly classify your clerical employee or store clerk as a mechanic, you will be paying way too much for the Workers Comp. Sometimes by just doing a simple review of a business’s employee breakdown, you can save a significant amount on the policy.

Workers Comp for Gas Stations- Continuous Coverage

Many business owners don’t realize the significance in maintaining continuous workers comp coverage. Workers Comp carriers frown upon businesses that let their Workers Comp policy lapse, regardless of the reason. Not only will having a lapse limit your options, it will likely cause you to pay a lot more for the same coverage. It is absolutely imperative you pay your Workers Comp bill and maintain continuous coverage.

Workers Comp for Gas Stations- X Mod

As your Gas Station business grows, so will your workers comp. When your policy increases over $10,000 in net premium, you may be eligible to receive a modification rate, also referred to as an X Mod. The X Mod is a modification rate that modifies the amount of premium you have to pay. For instance, having an X Mod of .75, you only have to pay 75% of what your premium would have been. Alternatively, if you have a mediocre claims history, your X Mod may go up as well. If your X Mod is 1.25, now you are paying 25% additional premium than you would have had you had a clean claims history.

There are many things you can do to avoid preventable claims on your Workers Comp. We can discuss your Workers Comp and help you get on the right track to save money
on your Workers Comp.

If you would like to discuss your Gas Stations Workers Comp, give us a call at 925-297-4829.

All information is general in nature and is intended to provide guidance only. It is up to you to request specific coverage options, the agency and agent do not bear this responsibility. Always read the policy if there is a questions about coverage or a claim. If any information herein should conflict with your actual policy’s specific language, the policy language will be controlling.

If You Are Serious About Saving Money While Building A Long Term Business Relationship Please Request A Quote And We Will Be In Touch With Your Shortly!