06 Apr Low Cost Workers Comp for Machine Shops
Low Cost Workers Comp for Machine Shops
Workers Comp for Machine Shops is very important, but it can also be very expensive. In fact, as a Machine Shop, Workers Comp may in-fact be one of your largest expenses. With that said, there are ways of getting the cost down, and this blog will show you how!
Low Cost Workers Comp for Machine Shops – Employee Safety
One of the biggest reasons for the high cost of Workers Comp for Machine Shops is safety. In general, Workers Comp consider Machine Shops to be higher risk than other industries. While this may or may not be true in every case, you are still going to be rated as a high risk industry. With that said, if you can show the carrier you take employee safety seriously, you may be eligible for discounts. This can include a formal safety plan, safety meetings, a return to light duty plan, and a formal lock-out or tag-out procedure.
Low Cost Workers Comp for Machine Shops – Employee Classifications
While the employee classifications can vary depending on the type of machinery you work on, there is often room for improvement. If you have employees that are dedicated clerical or outside sales, they may be eligible for separate classifications. Alternatively, you specialize in a specific type of production or machine work, you may be eligible for class codes that are related to the industry you are producing for.
Low Cost Workers Comp for Machine Shops – Lock-Out/Tag-Out Procedures
As we mentioned above, employee safety plays a large role in obtaining discounts and credits. For Machine Shops, one of the specific safety procedures that carriers are looking for is a formal lock-out or tag-out procedure. Many Machine Shops have already implemented these procedures, but have not created a formal, written plan to address this equipment. By doing so, you will not only be protecting your employees, you will also be setting yourself up for discounts with the carrier. These discounts are not guaranteed, but when applied, they can make a big difference.
Are you interested in learning more about Low Cost Workers Comp for Machine Shops? We are here to help!
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.
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