Lowest Cost California Landscaping Company Workers Comp

Lowest Cost California Landscaping Company Workers Comp

Landscaping Companies in California, like any business in California, are required to carry Workers Comp for their employees. The cost of Workers Comp can be substantial, which makes it important to take all the necessary steps possible to lower your premium. This blog will go over some of the basics to help you obtain the lowest cost Workers Comp policy possible.

Lowest Cost California Landscaping Company Workers Comp  – Carrier Eligibility

The most important item to remember when trying to save money on your Workers Comp is carrier eligibility. This is because many of the carriers with the best rates often require specific guidelines to be met. One of the first things carriers ask about is prior coverage. The carriers with the best rates often require you to have 3+ years of continuous coverage without any lapses. Every carrier has different eligibility requirements but the 3 years prior coverage rule is very common among the top carriers.

Lowest Cost California Landscaping Company Workers Comp  – X Mods

Depending on the amount of your Workers Comp payroll, you may be eligible for an X Mod after a few years of coverage. X Mod’s are a modification rate, calculated by the Workers Compensation Insurance Rating Bureau of California. X Mod’s are calculated by comparing your loss history compared to the expected loss amounts for your class codes. If you have a good loss history, you will receive an X Mod that is below 100%. This is critical for obtaining low cost Workers Comp because this modification rate applies substantial discounts for any Workers Comp carrier you purchase coverage with.

Lowest Cost California Landscaping Company Workers Comp  – Loss Runs

As mentioned above, following carrier eligibility requirements is extremely important in saving money on your Workers Comp. One of the other most important requirements is obtaining currently valued Loss Runs. If you don’t already know, Loss Runs are a loss history report that is generated by your prior carrier. Even if you do not have any losses, you should still obtain loss runs when shopping your Workers Comp policy. In addition to gaining eligibility with carriers that may otherwise decline your policy, some carriers may also give additional credits to those companies that present loss runs when quoting the policy.

If you would like to learn more or need assistance with obtaining the lowest cost 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!

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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!