Whether you have zero employees or thousands of them, you need workers compensation insurance or workers comp as it’s known. On today’s show, Travis Gensler of Beacon Point gives insights on this topic and talks about how to control your costs and avoid letting your payroll company dictate the type of insurance you need.
Since his college days, Travis has always been an entrepreneur. He started with a lawn care business, ventured into property for a while, and then owned a digital advertising franchise before settling into the insurance world. Beacon Point is an insurance firm located in Independence, Missouri, just outside of Kansas City.
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Workers Compensation Insurance – Key Points
- What exactly is workers compensation insurance?
- Each state has its own rules regarding workers comp.
- Payroll companies might not be the best place to look for advice, pricing, or assistance.
- Contracts you enter into with other parties may demand that you have workers comp on yourself.
- Health insurance policies sometimes exclude work-related injuries.
- The industry you work in, job descriptions and payroll information will determine the policy premium.
- Ideally, the insurance company will proactively outline the steps to take should an incident arise.
- Many insurers provide coverage on a national basis, but four states have their own state pool.
- Working with an agent or broker is often the best way to find the most appropriate insurer.
- Get more value by working with an organization that has gone through additional workers comp training.
You are sure to get nuggets of information to help protect your purpose.
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