Workers comp quote

Discussion in 'Experienced Truckers' Advice' started by Jasonar15, Jul 12, 2018.

  1. Jasonar15

    Jasonar15 Medium Load Member

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    got a workers comp quote today for $25,000 for a year. Trying to get company on W2
     
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  3. MM71

    MM71 Heavy Load Member

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    That number is big ... but, has no context. Work comp is usually so much of a percentage of an employees earnings. Anywhere between 2 and 7 percent dependent on state. SO, if you have a bunch of well paid employees 25k may be a bargain.
     
  4. Jasonar15

    Jasonar15 Medium Load Member

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    A little over 10% but does it go down like insurance without claims?
     
  5. Jasonar15

    Jasonar15 Medium Load Member

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    4 employees
     
  6. MM71

    MM71 Heavy Load Member

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    Yes ... but I would shop rates. I have no clue what state you are in ... but that seems high. I started at 6% in arizona. Four years later am at .75%
     
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  7. Jasonar15

    Jasonar15 Medium Load Member

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    This is my best rate so far. I’ve got quote as high as $47,500. Running the numbers on 4 trucks and expenses the 25k is very well manageable.
     
  8. Jasonar15

    Jasonar15 Medium Load Member

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    I’m in North Carolina
     
  9. Jasonar15

    Jasonar15 Medium Load Member

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    They told me rate is high due to never having workers comp. but glad to know it will go down if no claims.
     
  10. Ruthless

    Ruthless Road Train Member

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    Ins told me my state is 17% of earned income.
    Ie 1 employee @ $100k wages would be $17k for workmans comp; same as 2 employees @ $50k each.
     
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  11. My-Ke

    My-Ke Light Load Member

    Does that $25,000/yr cover workmans comp for all 4 of your drivers?
     
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