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workers comp insurance

Discussion in 'Business Fundamentals' started by Team_Arctic, Jan 13, 2009.

  1. Team_Arctic

    Team_Arctic Senior Member
    Messages: 176

    what are youguys paying for workers comp insurance? right now the way i have it set up i dont need it but i want to get a few more units and want to be covered in the event that i use them and need to stick someone in one
  2. BSDeality

    BSDeality Senior Member
    Messages: 736

    if its your first time getting it, you will be at a standard service rate depending on industry that is set by the state. in CT I pay 13% WC for my guys in my landscaping business. Its set for 3 years and then they do an audit and will adjust your rate from there depending on risks
  3. lilweeds

    lilweeds PlowSite.com Addict
    Messages: 1,178

    Not always true.... It depends on where you get it. I work by myself in a under a s corp and the state wanted like 3k for just me (one of the guys I sub for required it). I found an insurance agent in Mich (Larson Insurance) that got it for me for about $700.
  4. BSDeality

    BSDeality Senior Member
    Messages: 736

    Well, just goes to show you how each state is different. I called a couple ins. agencies in the spring here and they all told me the same thing. their rates would all be the same for 3 years.

    also here in CT under a s-corp or llc you do not need to carry WC on yourself.