Small Business Secret to Affordable Workers Compensation Insurance
Leveraging State Programs and Discounts
Many states offer programs and incentives to help small businesses manage workers' compensation costs. For example, some states provide discounts for businesses that implement certified safety programs or participate in state-sponsored safety courses. It's worth researching the specific programs available in your state to see these options and take advantage of any cost-saving opportunities1.
Real-World Examples and Data
According to the National Academy of Social Insurance, workers' compensation costs have been on a downward trend in recent years, with the average cost per $100 of payroll decreasing2. This trend can be attributed to improved workplace safety and more competitive insurance markets. By staying informed about industry trends and leveraging available resources, small businesses can continue to find affordable coverage options.