Workers’ Compensation Insurance

In North Carolina, if you regularly employ three or more people, you must carry Workers’ Compensation Insurance. However, just because it’s required doesn’t mean that it’s a one-size-fits-all proposition.

At James Insurance Agency, we will tailor an insurance package that meets state requirements and your exact needs. We are experts at the unique aspects of the North Carolina Workers Compensation Insurance system and will present coverage options that are specific to the type of business you operate. In addition to addressing the class code rates, we can offer coverages that may include:

  • Innovative Payment Options: This can include pay-as-you-go systems that eliminates large annual bills by spreading the cost over smaller time increments, which improves cash flow management.
  • Medical Network Provider Options: Some policy options include preferred provider networks that allow your employees to continue to see their current physician group.
  • Prescription Drug Coverage: This coverage can limit or eliminate out-of-pocket costs for injured employees.
  • Return to Work Coverage: From medical disability case managers to vocational rehabilitation consultants, this policy will help get injured workers back on the job as quickly and safely as possible.

It is important to note that if an employee uses a personal vehicle to perform activities for your company, you should also purchase a commercial automobile insurance policy to protect your business assets in the event of an accident.

Workers’ Compensation Discounts

The North Carolina Industrial Commission allows insurers to offer discounts to reduce costs. The types of discounts available will vary by provider but usually include:

  • Group Association Discount: Most insurance companies will offer a discount if your business is part of a professional, trade or industry group.
  • Safety or Fall Prevention Programs: Implementing a safety or fall prevention program that is relevant to your business will usually result in a discount.
  • Drug-Free Workplace: If you implement a company-wide drug-free workplace program you might receive a discount. Insurance carriers that offer this discount may have different requirements for these programs a discount amounts will vary.

As an independent insurance agent, we are focused on finding the right workers’ compensation coverage for your business needs. We will help you find the best insurance options and discounts to keep your costs as low as possible while still protecting your employees. Contact James Insurance today to get started and learn more about our other business insurance products and services.

To find out more about this product and other products and services, contact James Insurance Agency today by calling 252-826-2151.

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