Workers compensation insurance

In NY it was going to run me around $8800/yr for myself based on a salary of $35k which is the minimum they will let you show. I said thanks but no thanks

 

For 2017, category excavation and drivers, we paid $220,875.57 in WC wages (does not include overtime), and it cost us $6513.68.

This was in Idaho, and we have yet to have a claim since starting our business in 2008.
Mind you we are an excavation contractor, but our rate (which has dropped to 5.81% now) includes truck drivers and operators.

I don't know how apples to apples our situation is to strictly trucking.

I hope this helps.

 

I’ve got a quote in N.C. for $200,000 in wages , 3 full time drivers and one part time and was $42,000 a year doing flatbed. Waiting on another quote now. It’s hard to do things the right way with costs.

 

Holy smokes. Ours was a bit higher at first, but that is roughly 7 times what we pay.

 

It is hard to convey to employees that this is part of their compensation, or in other words, we could pay much better were it not for all of the additional costs that employers must pay beyond wages.
Having said that, I believe WC is necessary, but the cost of the premium ( roughly 20% in the case mentioned) is ridiculous.

 

Yeah it’s crazy

 

The insurance guy said it’s because we flatbed. But then I have drivers think the company eats all the cost and can’t take that cost from them.

 

I had a wc policy in Kansas for one driver in 2014 I believe the rate was 11% and I pulled reefer