Workers Compensation Insurance – PA

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A True Benefit

In Pennsylvania, and in most states, the law states that you must carry a workers compensation policy if you have employees. Of course there are always exceptions. In PA sole proprietors, partnerships, and owners/members of limited liability corporations or limited liability partnerships are not required to be covered by workers compensation.  Also, officers with at least 5% ownership in a S or C corporation have the ability to opt out of workers comp by filing officer exclusions forms with their work comp insurance company or with the Department of Labor if they have no other employees.

For most employers, having a workers compensation policy is viewed as a true benefit. Not only are they providing for the employee in the event of an injury while on the job. They also now have access to expertise of the insurance company that will assist with getting employees through rehabilitation and back to work.

Workers Compensations premiums are all the same, right…?

Simply, no. Even though workers compensation may be viewed as a benefit by the employer, that employers is also looking to keep their costs as low as possible. Having an insurance expert that knows workers compensation insurance inside and out will certainly help you in the long run! Many employers think that workers comp rates are pretty much all the same regardless of what company they may use. For workers compensation insurance policies with a premium under $1000 there typically isn’t a lot of variation in pricing from one insurance company to another. However, once you get above $1000 there can be substantial differences. For employers with workers compensation premiums above $25,000 there may be huge premium differences that depend not only on the carrier but also the agent designing the program.

In many cases your ability to get the most competitive workers comp program depends on finding an agent with the experience and capability to design the perfect workers compensation insurance program for your specific situation.  Primary factors include:

  • Reclassification
  • Separation of duties
  • Experience modification calculation analysis
  • Loss control programs
  • Proper structuring and record-keeping of subcontractors
  • Retrospective rating plans
  • Dividend plans
  • Solicitation for lowest loss cost multipliers

Hornafius Insurance Agency Is Your PA Workers Compensation Insurance Expert

It pays to have one of the professionals at Hornafius Insurance Agency review your workers compensation insurance program. They can design a customized program that includes all the discounts that your business is entitled to.  Don’t wait another day. Give us a call at (717) 367 – 5126 or Request a Quote today.

We look forward to working with you!