20 Apr Lowest Rate Workers Comp for Coffee Shops
Lowest Rate Workers Comp for Coffee Shops
Most Coffee Shops have employees and therefore need to carry Workers Comp in case an employee gets injured or sick. There are many Workers Comp carriers available that write Coffee Shops, but some have better rates than others. This blog will go over the basics of what you can do to obtain the Lower Rate on your Workers Comp.
Lowest Rate Workers Comp for Coffee Shops – Shop Annually
Shopping your Workers Comp annually will go a long way in helping you get the lowest rate on your Coffee Shop’s Workers Comp. This is because Workers Comp carriers guidelines and rates change often. A carrier that wasn’t competitive last year may have the best price this year. This is especially true for Coffee Shops, because there are a lot of carriers that want your business.
Lowest Rate Workers Comp for Coffee Shops – Employee Classifications
The classifications that your employees are given play a large role in determining your premium. This is because different class codes have different rates associated with them. In general, Coffee Shop employees go under the 8078(2) class code, also referred to as ‘beverage preparation shops’. While this code may be the most common, it may not apply to all employees. Outside sales or clerical employees may be eligible for different class codes with lower rates. Make sure you take the time to classify these employees correctly, as this classification will affect your premium substantially.
Lowest Rate Workers Comp for Coffee Shops – Obtaining Discounts
Again, depending on your operations, you may be eligible for discounts or credits that aren’t automatically included in the quote. If your Coffee Shop has a formal safety program, or a return to light duty plan, you may be eligible for additional credits. If you Coffee Shop has several years of continuous coverage without lapses or claims, you may be eligible for additional credits. There are several credits available, you just have to ask for them.
If you would like to learn more about getting the Lowest Rate Workers Comp for your Coffee Shop, we would love to help!
Give our Workers Comp specialist 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.
No Comments