Need advice owner op required to have workman's comp

Real workmens comp has the price set, it is a percentage of your earnings.
In Alaska, we do not have to legally have it if we are the owner of the business, but nearly anyone here you haul for requires you to have it anyway.
If you are leased out to a carrier, you are not considered the owner and WC os required by law, I would love to get by with 150 a month, but only a few companies will take the occupational insurance, and they are going away fast.

 

WC rates are set by law. Every policy has an experience mod. New companies are usually in the 1.2 area meaning you pay 20% more than the standard rate. Over time this comes down if you don't have any claims. I've been as low as .68.

 

You could try Ooida.

 

From what I understand, what ooida offers is occupational insurance, I know it will not fly up here.

 

I had a insurance policy to cover 90,000 truck "custom 2004 Pete 379 glider 498 monthly for insurance and went through my bank for work comp, I also didn't have employees and got it for 650 through a company called "kemi" I'm in Kentucky area

 

Leased to LS.

1 truck - 50k value (1995 379 w/120' ICT)
2 trailers - 55k value (combined) - (2015 53'flat, 2009 Manac stretch)

Monthly -

Physical damage - $276 truck, $115 and $119 on trailers (respectively)

Bobtail insurance - $89.52

Work comp (required) - $125.52

Total monthly - $725.04

LS offers Gallagher for insurance. I tried First guard, but they changed their policy and wouldn't insure more than 1 trailer per truck on physical. A dispute with OOIDA and LS led to difficulties (last time I checked) in getting their insurance.

I got a bit lazy I guess and just accepted the insurance coverage I had, rather than shopping. Instead I focused on increasing revenue and reducing costs and debt - so the insurance cost became less of a splinter in my thumb.

Hope this helps, at least for comparison as a 'leased on to a carrier' perspective.

 

The way I read it, OP is involved in their business. Just encountering a new problem and asking for help finding a starting point to tackle it. Hardly seems the time to take sarcastic potshots IMHO

 

WC will vary by state. I had to pick it up a couple of years ago in NY. I pay around $4500/yr through a safety group based on just myself and annual salary, also no exempting yourself here. I suggest you look into incorporating if you are going to do this so you can pay yourself a reasonable yearly salary, otherwise your premium will be based on whatever your net earnings are for the year. Could get costly after your first audit depending on where you are and if you have a real busy year.