- The number of employees is a main factor. Since workers comp is required for each employee, the number of employees is a main factor in determining coverage and price. The cost of payroll is also a factor in price and coverage.
- Risks of work related injuries. A higher risk work environment will relate to higher costs of your workers compensation policy. Many businesses will try to make the workplace safer in order to obtain a better rate on coverage.
- Previous claims. A big determining factor in costs is the past claims and the cost of those past claims made by a company.
Workers Compensation Insurance
In California, workers compensation insurance is mandated by the state. As a California business owner you need to have the right coverage for your workers. When looking for workers comp insurance, many factors are involved in choosing the right policy.