January 5, 2023

Shopping Workers Comp in San Francisco

The top business Insurance Question of 2022 certainly was How Do I Save Money on Workers Comp Insurance in California?

We understand this question – at times Workers Comp insurance can feel like a tax on many California businesses. After all it is mandated by the state and you only have a limited ability to prevent claims.

Workers Comp Rates really depend on your claims history and empoloyer classification code. An employer classification code is a numeric number that categorizes businesses by type. Codes such as Roofers are far more expensive than say a classification code accountants.

According to the State: “All California employers must provide workers’ compensation benefits to their employees under California Labor Code Section 3700.” Source. Often the owner of the Company is not considered an Employee in this situation – however check with your attorney and insurance agent to confirm.

Investopedia defines Workers Comp as “a government-mandated program that provides benefits to workers who become injured or ill on the job or as a result of the job.” It goes on to explain that “It is effectively a disability insurance program for workers.” Workers Comp rules are mostly regulated at the State Level and in California that is the state of California.

To get a Workers Comp Quote Started its useful to start the process several months before your the renewal comes due. Send us your current workers comp policy to begin with and answer some basic questions. We can shop around for a new policy that provides a lower premium.

At times Shopping for Workers Comp Insurance in the San Francisco area can feel like a big waste of time. However dealing with an independent agent, or an agent that uses multiple insurers can often be your best bet. Why reach out to one agent that contacts one insurer when you can reach out to One San Francisco Agent who contacts Ten Insurers? Which one do you think will land you a better deal?

Looking to Save Money on Workers Comp in San Francisco?

The simple answer to How Do I Save Money on Workers Comp Insurance in California? is to contact an Independent Insurance Agent two months prior to your Workers Compensation renewal. Get your documents in order and make sure they are aware of the renewal date. Be preparted to discusss payrole, headcount, and some business basics.