Do you often feel overwhelmed by insurance decisions?

The insurance business is not a simple one. There are so many different laws, regulations, and requirements that it can even be tough for many in the industry to keep track. However, if you want to make sure that your workers’ comp plan fully covers all of your employees, you’ll need to take some steps into the world of insurance, whether you like it or not.

Presuming you’re not an insurance expert, you’re going to want to ask lots of questions of those insurance carriers you contact. Their answers will determine if that insurance carrier can meet your needs and will make a great partner for your business. Here are some of the things you might want to ask…

What Is Your Client Focus?

Every insurance company has a certain “niche” that it targets. Many of them tend to focus on the larger companies, often leaving the small and mid-sized businesses out to dry.

If you are a small or mid-sized business owner, you want to find an insurance company that understands and specializes in your needs. Small businesses face big challenges, especially in today’s market, so they need someone in their corner to help keep their everything humming along. This philosophy is what we strive for at Normandy Insurance, and it should be something you ask of every insurance carrier you talk with throughout your search.

How Does Workers’ Comp “Work” in My State?

One of the most confusing parts of workers’ compensation is how rules and regulations vary between the states. If you own a business that has multiple branches in different states, you’re going to need separate coverage in each state that you operate. That can make the job of determining the best insurance carrier a whole lot tougher.

This problem becomes much easier when you pick a workers’ comp provider that offers coverage in multiple states. With that kind of knowledge, insurance agents can explain the differences between state laws and what you will need to do to be fully covered, no matter where your business is located. Normandy Insurance, for example, can be found in Alabama, Arkansas, Florida, Georgia, Louisiana, Mississippi, Missouri, New Jersey, North Carolina, Oklahoma, Pennsylvania, Tennessee, Texas, and Virginia.

How Do I Choose the Right Coverage?

No one wants to pay more than they need to for comprehensive workers’ compensation insurance. Most companies are looking for comprehensive coverage at a reasonable price, but figuring it yourself can be tricky.

When looking for insurance, it’s always best to talk to the professionals. They are aware of the continually evolving factors in the industry, including changes in the Occupational Health and Safety Administration (OSHA), to help tailor your insurance to fit your business.

When talking to an insurance agent, they shouldn’t be trying to talk you into the priciest and most comprehensive plan available. Instead, they should be an educator, giving you the knowledge you need to make smart decisions about your business and insurance. They need to understand all workers’ comp requirements in your state and do whatever they can to lower your rates. Speaking of that…

How Can I Reduce My Coverage Rates?

Even if you get a reasonable quote on your workers’ comp insurance, there may be ways to drop those costs further.

For example, many businesses put safety programs into place that could result in discounts from your insurance company. While this will vary between states, it’s important to ask if your existing safety measures and programs could save you some money on workers’ comp insurance.

What is the Carrier’s Reputation?

This is a question you could ask an insurance carrier directly, but getting an unbiased opinion for more accurate information is essential.

There are often major red flags that can go up while you’re looking for workers’ comp insurance coverage. Maybe it’s a plan that seems too good to be true, or extreme difficulty getting in contact with the carrier during regular work hours. An excellent way to confirm that an insurance carrier has an excellent reputation is to search online review sites like Trustpilot. There are countless other trustworthy sites for insurance carriers online; you just need to search for them!

The bottom line when it comes to workers’ comp is that you want insurance that works. You don’t want your employees to need to jump through a ton of hoops, especially if they are currently injured. That’s why we highly suggest calling an insurance company that specializes in small and medium-sized businesses. If you’re currently looking for an insurance carrier, we would be thrilled to help! Please feel free to ask the questions above; we would love to spend some time getting to know both you and your insurance needs!

Get in touch now: info@normandyins.com

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