Workers Comp Audit – How To Avoid A Big Bill

Workers Compensation Insurance is super important for anyone who has employees. But the ways it’s set up can be a real pain. A Work Comp audit is one of the most confusing parts. We’ll break it down and help you navigate the process with ease.

After watching this video Work Comp audits will be one more business pitfall you won’t have to wonder about.

We address:
• What is Workers Compensation Insurance?
When an employee gets hurt on the job, you’re responsible. Workers Compensation Insurance protects you and helps to address the costs.

• What is an Audit?
The price you pay for work comp insurance is based on two factors: your payroll & the type of work your employee does. An audit verifies that both were figured correctly in the past policy term.

• Why & when does a work comp audit happen?
Audits are to make sure people are actually paying what they’re supposed to. They usually happen about a month after the policy term ends.

• 4 ways to make every Workers Comp audit smooth:
1. Connecting with your insurance agent every quarter
2. Keeping great books
3. Classifying your employees correctly
4. Never underestimating your payroll.

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