alternative coverage
If you are shopping for workers' compensation plans and none seem to fit your company's needs, you may want to look into alternative coverage plans.

The Benefits of a Large Deductible Plan

A large deductible plan allows a business to cover a portion of their workers' compensation losses. At first glance, this may not seem like the most advantageous alternative coverage program, but if a corporation has resources needed to make it effective, it can have several advantages. Because a large deductible plan carries significantly less risk for carriers, more of them may be willing to offer it and you may get a better deal on your premium. Lower premiums free up working capital for better regular cash flow. You get the best of both worlds by taking control of your own payouts while the process is handled by the insurance provider. As these plans necessitate putting money aside in the budget for potential losses, there may be tax breaks associated with the costs. Best of all, a large deductible plan provides monetary incentive for the implementation of workplace safety measures. Not only do these measures reduce employee injury but they also save you money! If you are shopping for workers' compensation plans and none seem to fit your company's needs, you may want to look into alternative coverage plans. A large deductible plan gives you more control and, in the long run, can save you money when compared to a traditional workers' comp policy.

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