This post was written by Commercial Protection Advisor, Blaise Perrone
Did you hear about the North Carolina sawmill that overpaid its workers’ comp premiums by a staggering $400,000?! That’s right, a massive mistake!
While you’re probably not making an error that big, here’s something to think about: If your workers’ comp premiums were higher than they should be, would you even know?
Most companies don’t.
In fact, the Institute of WorkComp Professionals reports that a shocking 70% of businesses are overpaying on their workers’ comp premiums. But here’s the kicker—that’s not even the biggest mistake businesses make. Far more costly are the errors in coverage, which can cripple a company.
Here’s another eye-opener: RoughNotes magazine estimates that 50% of employers have errors in their workers’ comp policies.
Most business owners focus solely on premium prices. The trouble is, so do most insurance agents.
But here’s the reality: When something happens to your business, you won’t be thinking about saving a few dollars on premiums. You’ll be thinking about whether you’re covered enough to handle the situation.
Take my sister-in-law, for example. When her house burned down, her first thought wasn’t, “I wish I’d saved $200 more a year on my premiums.” No, she was relieved to have full coverage in place. Shouldn’t you make your decisions about business protection based on coverage, not cost?
Saving money on premiums is not the endgame. Ensuring you have the right protection for your business, your family, and your employees is what really matters.
And let me be clear: If an agent is only talking about how much money they can save you, they’re not focused on your best interests. In fact, they might be misleading you.
Here’s a promise I can stand by: I will work with you to uncover what truly matters to you and create the best protection program within your budget. Because your peace of mind is worth far more than just a low price.
We’d love to talk to you about the specific risks your business faces and how we can help you protect it. We have a full team of business insurance experts ready to help you. Contact us here and let’s get started!
A little more about Blue Marsh Insurance…
When he founded Blue Marsh, Tom Davenport wanted to create a different kind of insurance company. One that’s built on personal relationships and a local presence. One where you, the customer, feel more like a friend.
As an independent insurance agency, Blue Marsh Insurance represents a carefully selected group of financially strong, reputable insurance companies. Therefore, we are able to offer you the best coverage at the most competitive price.
If you’re interested in starting a quote online or having us take a look at your current policies, click here!