What Type of Coverage Do I Need?

Do you have any employees or people working for you? If yes, then you need Workers Compensation. An injured employee can result in a very costly lawsuit and if not insured properly you may be personally responsible for the medical expenses, loss of wages and more. Even if you have temporary or seasonal workers, you still need Workers Compensation coverage.

Workers compensation insurance rates may vary based on the industry or business type, payroll and claim history. Our carriers have a broad risk appetite, and can customize insurance programs and offer competitive pricing.

A workers compensation insurance quote is calculated by evaluating many factors including your location, the size of your payroll and your claim history. Exact costs will vary based on each insurance company, but there is some consistency in how they work together to generate a price for your business. Having workers compensation insurance with the same insurance company as other coverages can help reduce coverage gaps and protect your business. Workers compensation policy quotes are predominately based on a rate charged per $100 of payroll. These rates can vary depending on your state, the type of work your employees perform, and your business's claims history. The type of work employees perform determines the Workers Compensation Classification Code rate. Different types of work are charged different rates. States provide the basis for rates by classification code. Your business' insurance claims history helps determine your Experience Modification. The rating bureaus calculate the Experience Modification for eligible businesses, the use of which is mandatory on workers compensation policies. Better than average claims history may generate a modification factor below 1.00, and worse than average claims history may generate a modification factor greater than 1.00.

Because coverage is statutory, many may think that all workers compensation coverage is the same. Coverage can be similar state to state however, there can be vast differences between insurance carriers especially when it comes to industry expertise, claims handling and service capabilities and the level of risk management training and support they provide customers. M&W offers a wide variety of products designed to enable customers to tailor insurance solutions to address the unique needs of their business. The quality of Risk Control and Claim services experience provided to customers is unique and at a service level unmatched in the insurance industry. The broad array of products and services available to M&W customers include dividend plans, captive programs, managed care plans, bundled and unbundled loss sensitive programs, drug-free safety credits and more. In addition to our loss prevention and claim services, M&W offers premium audit options and flexible billing services and installment plans.

General Liability Insurance is the foundation of most business insurance policies. If you have customers, chances are you need General Liability Insurance. Most business that lease space are also obligated to have General Liability Insurance.