Insurance Protection Solutions, INC.

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Insurance Protection Solutions, INC.

Insurance Protection Solutions, INC.Insurance Protection Solutions, INC.Insurance Protection Solutions, INC.

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Frequently Asked Questions

Who needs Workman Compensation?

 Workers compensation insurance protects your employees and your business from work-related accidents, illnesses, and even death. Nearly every state requires that employers have insurance to cover medical costs and lost wages for workers who are injured or become ill on the job.

What are requirements for workmans comp?

 Most states require any employer with at least one employee to have coverage, but some states set a minimum of two to five employees. A few states have different requirements for agricultural or construction businesses, and some allow charities to opt out of the workers’ comp system. 

How much does workers compensation insurance cost?

Therefore, how is workers’ comp calculated? To figure out workers’ comp premiums, you’ll first need to understand the factors that influence them, such as:

Workers’ class codes

Number of employees

Payroll

Claims history

A formula you can use to help estimate your business’ Workers’ comp costs is: 

Workers’ Classification Code Rate X Experience Modification Number X (Payroll / $100) = Premium**

  • Please call at: (804) 486-7280
  • Or email us at:    save@wcforless.com 


Our Services

Analyze your Workers Compensation policy and Experience Mods

Workers' Compensation Insurance premiums are based on your company's business and industry, the type of work performed by each employee, claims history and your company payroll. The formula looks something like this: Employee Classification Rate X Employer Payroll (Per $100) X Experience Mod Rate (Mod) = Your Workers’ Comp Premium. 

  

There is always a great chance of saving money on your WC once we analyze it for your firm.

Ask how to reduce your insurance costs

Take advantage of free loss control resources, ask us how we can setup a site visit. 

  

There is always a great chance of saving money 

Commercial vehicle insurance quote for your business

 When preparing a commercial vehicle insurance quote for your business, there are many details an insurance broker needs to know. Whether you're quoting for a commercial truck fleet, company car or truck or any other type of commercial vehicle. Use our agency as your trusted advisor to be sure you're prepared and covered professionally. Please let's start the conversation. 

  • Please call at: (804) 486-7280
  • Or email us at:    save@wcforless.com

 

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