Workers' compensation insurance is a type of insurance policy that covers an employer's liability to its employees for any job-related injuries, illnesses, or deaths. Whether you are a small business owner or a large corporation, it's essential to understand how workers' compensation insurance works and what determines your coverage premiums.
Here are the key elements that influence your workers' compensation insurance premiums and how you can manage your expenses.
Business Size and Industry Classification
When you have a fleet of delivery trucks at your business's disposal, you need to protect them, their drivers, and you from a host of liabilities. You must ensure your fleet remains a viable asset to your company rather than a financial drain.
However, you also realize traffic accidents and vehicle mishaps can happen unexpectedly. Rather than shell money out of your personal or professional bank account for them, you can instead keep quality commercial truck insurance on the trucks in your fleet.