Workers’ Compensation Insurance

Worker’s compensation insurance is important to any business with employees, but assuming that the lowest possible rate is the best solution can be a costly mistake. In fact, choosing insurance coverage based solely on the rate is like choosing employees based only on expected wage – saving money today might cost you big in the future.

At Goodman Family Insurance, we help businesses like yours find comprehensive, cost-effective worker’s compensation coverage that is perfect for the demands of your company.

Give us a call at 262-599-8031 or reach out below to discover what we can do for you.

Key considerations when selecting worker’s compensation insurance

Modification Factor

Your worker’s compensation modification factor is a debit or credit that can be applied to worker’s comp rates based on claims filed and premiums paid. Do you know how your mod factor is determined, or how you can get a better one? In many cases, the answer is no.

At Goodman Family Insurance, we help you understand the numbers behind your mod factor with comprehensive Worker’s Compensation Modification Factor reviews.

Deductible Options

If your business has a significant worker’s compensation premium, it might be in your best interests to choose a worker’s compensation policy with an elected deductible. This is not something that is included in standard worker’s compensation insurance contracts, and it is not without risk – you will be trading immediate savings for increased exposure.

Our experienced insurance agents can help you determine if this decision makes sense for you.

Pay as You Go Worker’s Comp

Pay-as-you-go worker’s compensation insurance is an increasingly popular option for businesses that prefer to pay workers’ comp premiums as payroll is incurred – this is useful for seasonal businesses like landscaping, snow removal, or even construction as the premiums change based on the increased/decreased payroll.

A consultation with Goodman Family Insurance can help you determine if this option is right for you – reach out today to schedule yours!

Rate Classification

How you classify your employees can have a big impact on your worker’s compensation insurance premiums – misclassification often winds up costing you money.

Are your employees properly classified? Have you explored the possibility of splitting codes? At Goodman, we can help you understand your current worker’s comp situation and come up with an optimal path forward.