Under the North Carolina Workers’ Compensation Act, your business must possess workers’ compensation insurance if you have three or more officers, employees, or owners. Without this essential insurance, your organization could become liable for fines and the financial responsibility associated with helping an employee recover after a workplace accident or injury.
Like with any insurance policy, you want to make sure you balance coverage with continuing financial cost. At Rich Haag & Associates, we are happy to inform you that there are three common workers’ compensation insurance discounts your organization could be eligible for:
1. Drug-free workplace discounts—Has your company officially marked your worksite as a drug-free workplace? Depending on your workers’ compensation insurer, your organization could be eligible for a discount.
2. Group association discounts—Certain trade groups, industry associations, and professional organizations offer discounts on workers’ compensation insurance.
3. Discounts for implementing fall prevention or safety programs—Not only do fall prevention and safety programs help protect your workers from injuries and accidents, but they can usually help your organization qualify for a discount on workers’ compensation insurance.
Do not feel like you have to research these discounts independently – as your local insurance firm, our role is to research discounts on behalf of your organization and provide insightful information about helping you get the best coverage at the best possible rate.
Ultimately, we will make sure you are not over- or under-insured, so you can focus your time on running your business instead of the administrative aspect of bolstering your insurance portfolio with the right workers’ compensation coverage. We want to set up a time to meet with you, so please contact us today!