Workers Compensation Insurance in Maryland
If you have someone working for you then you need workers compensation insurance in MD.
We are also licensed to offer Workers Insurance in Virginia, Pennsylvania, Delaware and Washington DC.
Be Vigilant About Workers Comp Insurance. Imagine an employee getting hurt at your workplace. How would you feel?
Now imagine not having workers compensation insurance. How would you pay the medical bills? Could you be sued? Could you lose your business?
If you can pay medical bills, withstand the onslaught of a high-powered lawsuit and are willing to break the law by not having workers compensation insurance, then so be.
Who needs workers comp insurance?
If you have anyone working with you that does not have their own workers compensation insurance policy then you need to provide it. Even 1099 subcontractors who do not have workers comp insurance coverage can sue you for their medical bills and loss wages if they are injured at your job site.
If you are like most firms, you purchase the workers comp insurance. However, you do so while seeking ways to reduce the cost.
Act now and contact Huff Insurance. Having insured businesses in Pasadena, Maryland since 1960, we can help save you a substantial amount of money by examining the following four areas as they pertain to your business:
- Rates: While workers compensation insurance rates are standard nationwide, depending on carrier, insurance companies apply what they call “deviations, premium discounts or schedule credits” from those rates, up or down depending on the loss experience.
- Premium Audit: When it is time for your annual premium audit, we can make sure you are properly classified and that you maintain your records to receive the most advantageous payroll calculations and classes. Completing your audit on an annual basis is the best way to be sure that you are being charged the most accurate premium.
- Experience Mod: We will help make sure your experience mod is an accurate reflection of your claims. A mod less than 1.00 means that you are running a very safe workplace, over 1.00 means that you need to work with loss control and install safety measures to make safety a priority to all team members.
- Loss Control: A loss control or risk management program where injuries to your employees are minimal because of the safety features used on your premises.
Remember that workers compensation insurance premiums are based on your annual payroll. It does not matter if your payroll is all accrued in one month, one quarterly or throughout the day. It does not matter if you have 1 employee or 1000 employees throughout the year. The only thing that matters is what the total payroll was over a 12 month term and what those employees actually do.
As a Maryland Business owner, here are some of the other insurance coverage that your business needs: