Making Great Protection Possible
You want to protect your team as well as possible, but you also need benefits that make the most of your budget. At Workers’ Compensation Group, Inc., we help companies transform their insurance planning to take full advantage of great deals and personalized plans. With us on your side, you can find the right options to meet your needs and ensure that your employees get the gold standard in confidence on the job – even when the unexpected happens.
Workers’ compensation insurance often represents the largest portion of non-productive overhead for your business. It’s also a complicated commitment. We work with our clients to understand their situations and tailor customizable workers’ comp plans to their unique needs. No matter what your level of knowledge, our team of experts can walk you through each step of the process, ensuring that you never over-spend or under-prepare when selecting coverage. As specialists, we know all the ins and outs, and we use our experience to get the right results for you. Our goal is to give our customers the best workers’ compensation policy for their situation at the lowest possible cost in providing coverage.
Understanding Your Workers’
Compensation Policy.
At WCG, we make your success our priority. In providing coverage, our goal is to give our customers the best policy for their situation at the lowest possible cost. One of the key advantages we employ is searching for every available credit as we help you decide on a workers’ compensation policy. These opportunities to save reward you for smart safety decisions and offset the high cost of protecting your team from the unexpected. And we don’t just mark checkboxes – our team helps you seize every opportunity to save. Some examples include credits like:
Drug-Free Workplace Credit
WCG can arrange to have a certified drug-free workplace established for our customers at no cost, reducing insurance payments.
Safety Program Credit
If you do not have an existing safety program, Workers’ Compensation Group can provide a state-approved program developed for your industry at no cost.
(FCCPAP) Credit
Employers in Florida with contracting classifications and a higher average hourly rate may qualify for this additional credit ranging from 5% to 25%.
Deductible Credits
Employers can choose to add a deductible to their policy beginning at $500 with corresponding credits beginning at 1.6%.
Our Agency
Workers’ Compensation Insurance
During the last 35 years, we have earned our reputation as Florida’s leading specialist in this essential business coverage and expanded our operation to offer support across every state. If you need quality coverage without inflated costs, count on us to guide you to your perfect plan.
Frequently Asked Questions
Q: How can I save (more) money on my workers' compensation policy?
A: You can save money on your workers’ compensation policy by having a Safety Program, a Drug-Free Workplace Program, a deductible, an FCCPAP credit, lower Experience Modification Factor, correct classification of employees…and Workers’ Compensation Group will help you with all of these options.
Q: How can I save (more) money on my workers' compensation policy?
A: You can save money on your workers’ compensation policy by having a Safety Program, a Drug-Free Workplace Program, a deductible, an FCCPAP credit, lower Experience Modification Factor, correct classification of employees…and Workers’ Compensation Group will help you with all of these options.
Q: Are there any policies that allow me to pay in a fraction of the annual premium?
A: Yes. Retrospective rating plans for premiums $100k plus allow you to pay in a percentage of your premium during the year. If you have claims, you pay an additional premium, up to an agreed maximum amount. If you do not have claims, you do not owe any more money. The percentage can be as low as 30%!
Q: Can I pay for my policy without a deposit?
A: Yes. There are payment plans that ask for nothing down (except the state expense constant) and others that only ask for the first month’s installment, not to be held as a deposit.
Q: Can a Workers' Compensation Policy Cost Less Than Employee Leasing Workers' Compensation Coverage?
A:Yes, in MANY ways:
- Employee leasing coverage does not offer the standard credits you can get with traditional workers’ compensation policies.
- Employee leasing arrangements charge high administrative fees on gross payroll. You pay workers’ compensation on the premium part of overtime – an actual increase in the
- premium based on workers’ compensation.
- You are subject to the leasing company’s experience modification factor while you are with them AND after you leave.
- Improper coding of employees by non-licensed salespeople often results in higher-rated codes, etc.
- Corporate officers and owners cannot be excluded from coverage and premiums.
Many times workers’ compensation insurance is something “thrown in” with an insurance package. Businesses are often penalized because insurance agents need to meet property or general liability quotas – and the worker’s compensation portion is bartered to suit these needs. You can save a considerable amount of money each year with the proper program designed to fit your business. We’ll help determine the right time for a paid-loss retro versus a large deductible, a retention plan, a dividend plan, or a guaranteed-cost plan.
In other words: leave the tough stuff to our experts. From compliance issues to premium payments, workers’ compensation insurance is complicated, but we’ll make it easier for you by creating a customized plan for your company. Get in touch with us today to learn more about your coverage options.
Schedule A Free Consultation
And Uncover Benefits.
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For all your workers’ compensation insurance needs, reach out to us, a trusted second-generation family-owned agency based in Boca Raton, Florida. Contact our experts today to ensure your workforce’s protection.