How a company manages paying it's Worker's Compensation premiums can be a challenge. The good news is, there is more than one way to approach Workers Compensation - and this article deals with ways to pay for premium. You don't always have to put of a lot of cash at the beginning of the policy period.
The pay-as-you-go option we have available to our qualified customers with some of our carriers allows businesses to make smaller, more frequent premium payments by paying a portion of the annual premium each payroll period.
With Utica National Insurance, payroll gets reported by the policyholder or by your certified payroll company for each payroll period. You're contacted for your personal preferences and options as well as specific bank account for EFT payments. You will get advance email notification for each premium payment deduction, as well as 24/7 access to premium calculations and payment history.
The Hartford Insurance also has a pay-as-you-go Worker's Comp option that works much the same way. Your business can report it's payroll direct to The Hartford or your qualified payroll service provider can. The XactPAY Web®, a pay-as-you-go workers' compensation premium payment service that allows Hartford policyholders to increase cash flow, in part, by eliminating large premium down payments. A detailed summary of payroll entered and premium collected will be available to you on a secure website. Here is a Sample Report .
As an independent commercial and personal lines insurance agency in Massachusetts, licensed to do business in many other states, here at Elliot Whittier we have access a wide variety of insurance carriers and can tailor an insurance program to meet your particular needs. We employ seasoned professionals to help you select the right products. What this also means for you is, we are nimble enough to change things when you need to, or advise you as to when you should be considering making a change.
Elliot Whittier Insurance Services, LLC is a local Trusted Choice® agency that represents multiple insurance companies, so it offers you a variety of personal and business coverage choices and can customize an insurance plan to meet your specialized needs. You can visit Elliot Whittier online at www.ElliotWhittier.com, email firstname.lastname@example.org, or call 800-696-3947 and ask for Chris Millerick.