The Benefits of Using a Broker to Get Workers’ Compensation Insurance

Getting Workers’ Compensation insurance can feel like a chore to employers. When you sue a broker to find coverage, you can get a comprehensive and affordable plan that meets your company’s needs.

Using a broker to get Workers’ Compensation insurance has many benefits. For example, our brokers are efficient and can source quotes from reliable carriers within a matter of days. Brokers can also help employers evaluate quotes and review policies so they have a thorough understanding of the premiums and plans they agree to. With experienced brokers by your side, you can get the necessary coverage to avoid stop-work orders and other consequences due to a lack of insurance. Not using a broker to get Workers’ Compensation insurance can be risky, so it is always wise for employers to seek help.

Our team of skilled brokers is here to help employers get affordable Workers’ Compensation insurance. To learn more about the Workers’ Compensation insurance brokers at NPN Brokers, call today at (561) 990-3022.

What Are the Benefits of Using a Broker to Get Workers’ Compensation Insurance?

Finding the ideal Workers’ Compensation insurance policy can seem impossible to employers. With all the other responsibilities, you have running a company, you may not have the necessary time or energy to devote to getting comprehensive coverage for your employees. Skilled brokers work fast, quickly finding you affordable, comprehensive coverage. Instead of forgoing insurance or agreeing to a subpar policy, reach out to our experienced Workers’ Compensation insurance brokers for help getting coverage for your company.

Getting Coverage Quickly

One of the biggest perks of using a broker to get Workers’ Compensation insurance is efficiency. Our brokers work quickly so that you can receive quotes as soon as possible. Often, companies in states that require Workers’ Compensation insurance need coverage fast. Delaying getting the necessary insurance might result in financial penalties and other consequences employers want to avoid at all costs. Once our brokers get the necessary information about your employees and their responsibilities, we can get you reliable quotes within a few days.

Help Evaluating Quotes

When facing various Workers’ Compensation insurance quotes, employers might be confused. Why is one quote higher than another? What equation is a particular Workers’ Compensation insurance carrier using to calculate a quote for your business, and is it different from others?

Our skilled Workers’ Compensation insurance brokers are familiar with the equations used by carriers when calculating quotes. Because of that, our brokers can help you evaluate quotes and determine which are appropriate based on your industry classification, payroll, and other risk factors.

Help Finding Affordable Coverage

Using a broker to get Workers’ Compensation insurance can help your company find the most affordable coverage available based on its industry and risk factors. Often, employers in high-risk industries might think that expensive Workers’ Compensation insurance is inevitable. In reality, that doesn’t have to be the case. Our brokers have relationships with reliable carriers that do not require expensive processes, such as audits, contracts, and deposits.

In addition, our brokers can pair your company with pay-as-you-go coverage. This affordable insurance bases Workers’ Compensation insurance premiums on real-time payroll numbers instead of broad annual estimates. When you partner with our brokers, getting affordable Workers’ Compensation insurance is possible, even if your company is at a higher risk for workplace injuries.

Improved Policy Comprehension

As an employer, you might be unfamiliar with the confusing phrasing and jargon used in Workers’ Compensation insurance policies. When you have our skilled brokers by your side, you can more easily understand the ins and outs of your policy so that you and your employees are properly educated. Policy comprehension is crucial so that you know your responsibilities as an employer, the limits of your policy, and that all necessary employees are covered under Workers’ Compensation insurance.

Ability to Avoid Stop-Work Orders

Unfortunately, companies without Workers’ Compensation insurance might face stop-work orders. These orders prevent companies from engaging in any work until the requirements of a stop-work order are met. This can negatively impact the success of your business, tarnishing its reputation and its relationships with clients and workers.

Our experienced brokers can help you avoid a stop-work order by finding coverage, especially when transitioning from one carrier to another. Ensuring that you remain covered at all times is crucial so that your company is unaffected by a lack of Workers’ Compensation insurance.

What Are the Risks of Not Using a Broker to Get Workers’ Compensation Insurance?

Not using a broker to get Workers’ Compensation insurance for your business can be risky. In doing so, employers risk agreeing to an expensive policy that doesn’t provide adequate protection for their company or employees.

Some insurance carriers might try to take advantage of employers that attempt to get Workers’ Compensation insurance without help from a broker. Remember, policies are often complex, containing confusing and precise language employers may be unfamiliar with.

Agreeing to a policy without having our brokers review it might result in a coverage plan that is too expensive and not comprehensive. This can leave your company vulnerable in the event of a workplace injury, not to mention being stuck with expensive premiums for the duration of a policy.

The time you spend trying to review policies and quotes is better spent focusing on your company and how it can succeed. Our Workers’ Compensation insurance brokers can handle sourcing quotes, reviewing policies, and finding affordable coverage so that you don’t have to. Going at it alone is not worth the risk, especially with your company’s security on the line.

Call Our Brokers to Get Workers’ Compensation Insurance Now

If you need help getting Workers’ Compensation insurance, reach out to our brokers. To learn more about the Workers’ Compensation insurance brokers at NPN Brokers, call today at (561) 990-3022.