Workers Comp for Warehouses

Workers Comp for Warehouses

Workers Comp for Warehouses can vary substantially due to the difference in scope and operations from one Warehouse to another. This can make it tricky to navigate the Workers Comp markets. This blog will break down some of the most important things to know for your Warehouse.

Workers Comp for Warehouses – Warehouse Operations

As mentioned above, Warehouse operations vary business to business. Some Warehouses act simply as an intermediary shipping center while others run a full fledge wholesale business operation. The difference between these two can affect Workers Comp classifications and rates substantially. Before shopping for Workers Comp, it is important to have a clear description of both your Warehouse operations and employee duties in order to properly explain this to your Insurance Broker.

Workers Comp for Warehouses – Employee Classifications

Workers Comp premium is established primarily off the rates that are applied to your employee payroll. These rates are determined based on the type of business operations as well as the employee duties. For example, in many cases, if you have an Warehouse employee that has the same duties as a Warehouse employee at a wholesale operations, these employees would be classified differently. With this different classification comes different rates, which is why it is so important to clarify this information to your Insurance Broker. In addition, if you have employees that work off-site strictly in a clerical capacity, they can be classified separately. These kinds of changes to classifications can make a big difference in your Workers Comp premium.

Workers Comp for Warehouses – Ways to Save Money

There are several ways to save money on your Warehouse’s Workers Comp. Properly classifying your operations and employees, as mentioned above, can go a long way in bringing your premium down. In addition, maintaining continuous coverage without lapses is a critical step in saving money on Workers Comp. This is because preferred carriers often provide credits to businesses with continuous coverage, and in some cases, will only write businesses with continuous coverage. You can also save money by bundling your Workers Comp with your General Liability carrier. This is not always available, but when it is, it can make a big difference.

If you would like to learn more about Workers Comp for your Warehouse, give us a call! You can reach our Workers Comp specialist 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!