Workers Comp for Residential Care Facilities

Workers Comp for Residential Care Facilities

Residential Care Facilities tend to have a difficult time in obtaining low cost Workers Comp. Regardless of these difficulties, there are ways to to get carriers with lower rates to offer quotes. We will explain some of the basic things you can do to get the best Workers Comp policy for your Residential Care Facility.

Workers Comp for Residential Care Facilities – Maintaining Coverage

One of the most important things you can do to lower the cost of your Workers Comp is maintaining continuous coverage. This is because the carriers with the best rates for Residential Care Facilities require at least 3 years of prior, continuous coverage. Even having small lapses in coverage can make it very difficult to get quotes approved from preferred carriers. If there is one thing you take away from this blog, it should be that maintaining your Workers Comp coverage without lapses is critical.

Workers Comp for Residential Care Facilities – Classifications

While Residential Care Facility rates tend to be quite high, there are additional, lower cost class codes that may apply to your employees. In California for example, clerical employees can be separately classified as 8810, ‘clerical office employees’. Outside salespersons can be separately  classified as 8742, ‘outside salespersons’. These additional employee class codes may represent a small portion of your total payroll, however, the difference in rates between these class codes and the Residential Care class codes are significant. Even minor changes can bring down your total
premium by quite a bit.

Workers Comp for Residential Care Facilities – Credits

There are additional credits that you may be able to obtain on your policy, depending on operations. Many carriers offer additional credits for businesses that have formal, written safety programs. In addition, you can obtain credits from having a clean loss history. There are resources available from most Workers Comp carriers that can assist you in properly training employees to minimize or prevent claims.

Stone Creek Insurance works with many Residential Care Facilities. If you would like to learn more, 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!