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Making Worker’s Compensation Affordable

Making Worker’s Compensation Affordable

One of the most difficult challenges that small business owners face is handling the cost and extra clerical labor associated with carrying workers compensation insurance. However, for many small companies carrying Workers Comp is something they cannot afford not to do because it is expected by customers and employees. Fortunately there are things that can be done to reduce the cost and workload associated with Workers Comp without sacrificing the quality of the coverage.

One of our clients recently was a small business owner who worked in the commercial construction industry. Our client was required to carry Workers Comp to suit the expectations of an important customer. However, the small business owner was finding the high cost to be very difficult to handle. in addition the monthly reporting that went into the Workers Comp was becoming quite a clerical nightmare. Fortunately we could help them and here’s how we did it.

Monthly Reporting

Though Beaty isn’t involved in the payroll services industry, one of our clients is a payroll service company and as soon as we talked to the small business owner we realized that they could greatly benefit from the services of our other client. We were happy to put them in touch with each other and sure enough a comfortable working relationship sprang up. This resulted in alleviating the burden our construction company client was facing.

The Policy

We were also able to find our client the best insurance company for their Workers Comp needs. This resulted in them saving 40% on their premium. This huge savings went a long way toward freeing up capital for other business ventures and expenses, yet our client still remained covered by Workers Comp and was still able to meet their customers requirements.

End Result

The end result is that our client got a huge savings on their policy and found a way to eliminate a considerable amount of their workload. We were even able to get them a policy that did not require a downpayment. Instead our client happily pays each month and enjoys big savings, hassle free!

Service Details
  • Client : Large Payroll Services Company