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3 essential tips to keep workers’ compensation costs under control

You can’t control every factor that helps determine your workers’ compensation costs, but you do have sway over one big one: your losses. Follow these three tips to help you avoid some of the pitfalls that lead to big workers’ compensation claims and higher premiums.

How does a workers’ compensation claim affect my premium?

One factor that affects your workers’ compensation premium is your loss history. Workers’ compensation claims can cause future premiums to increase. Bring employees back to work as soon as they are medically able to minimize the impact of claims on your premium.

That fall in the parking lot could be a work injury

Every state’s law is different, but typically employers are required to provide safe routes for employees from their vehicles into work. If an employee is hurt by falling in the designated parking lot going in or out from work, it could be considered a work injury.

Have no fear of the workers’ compensation audit

Don’t be surprised (or overcome with dread) when you hear your policy requires a workers compensation audit. Every workers’ compensation policy must be audited annually at the end of the policy period to make sure you are charged the correct amount for your policy premium.