Workers Comp Blog

How to Reduce Workers Compensation Costs

Want to know how to reduce workers compensation costs? Here are five of the best ways to lower your work comp expenses.

Get Competitive Quotes

We could just stop the conversation right there. Competitive insurance quotes from large and smaller business insurance companies can save you huge money and cut your costs drastically.

Submit Correct Information

So many times companies get into trouble by submitting incorrect information when requesting a quote. Without the correct employee codes, you might think you are saving money, but in the long run it can cost you BIG TIME. Watch out for this one. It can be brutal.

Implement a Changing Safety Program

We know that safety is the number one way to save on workers comp claims, but the key is to keep changing the program to keep it fresh. Without changes, workers will get complacent.

Safety Incentives

Instead of issuing gift cards of financial bonuses find a way to make memories that will last. For example, an HVAC company in California takes trips with the employees and their families. They have gone on cruises and rented condos on the beach. Build loyalty, and good peer pressure to keep safety the priority.

Pre-Claim Nurse Triage

We know that this one is only going to work for larger companies but it is saving companies huge money. California hasn't adopted the system but privately insured companies have been doing it for decades and it works. Some companies have turned it into a 24/7 part of their business so even during off-work hours their employees can get the help they need.