Question
I am trying to find some decent rates on Workers Comp. insurance. I own a small flatbed company based in Arkansas with ten owner-ops and six company trucks. The quotes that I have received have been around $ 8000.00/ year per company driver based on the drivers avg. pay of $ 40,000 year.
Are there any trucking associations that have Workers-Comp programs?
The Arkansas trucking association has a program but will not allow any companys that have not had workers insurance for 3 or more years.
Answer
Don't have first hand knowledge of any association that will be able to offer you statutory Arkansas Workers Comp and at reduced rate. Just keep in mind, if you locate an association, be sure to you are getting an ARKANSAS statutory policy.
Answer
Do these rates seem high to you Connie? My agent says that there are only three or four markets in Arkansas that will write Workers Comp for trucking. Any ideas how I can get cheaper rates?
Do you know of any companys that I could contact?
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Call me to discuss this further, as it would require me asking you questions that would be considered privileged or confidential.
You can reach me at 928-854-7599
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I've been checking out Workers Comp in NC. Looks like they want 14.83% of my net income plus a surcharge for being a "newbie"!
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That sounds about right. I know it's alot of money, especially with the fuel situation, but when you have employees, you are required to abide by the state Workers Compensation rules.
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Connie,
As I'm the only person in the company, do you think I'll have to take out NC workers comp? I'm going thru the state statutes trying to figure it out. BTW, I'm retired military, monthly check plus insurance.
Thanks
Jim
Chief cook and bottle washer
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My recommendation always is to properly protect yourself. While you think you may not need it, there are places that will require that you show proof. In some areas, the state laws provide that the sole remedy for work related injuries is workers compensation.
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If you are the only employee, forget about worker's comp. It is a major ripoff. Get an occupational health policy. The coverage is usually far better and the premium is a lot less.
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Unfortunately, North Carolina disagrees: (http://www.comp.state.nc.us/ncic/pages/truckers.htm)
" Does my “accidental occupational injury policy” substitute for the more expensive workers’ compensation policy?
Answer: No. If you deliver loads with your truck pursuant to a subcontract with a motor carrier, then the “accidental occupational injury policy” does not provide workers compensation coverage required by the North Carolina Workers’ Compensation Act."
Since I'd have my own motor carrier authority and don't have any friends that are judges, I'm not sure I'm going to argue whether or not hauling under my own authority constitutes a subcontract with myself! I could get an opinion from a lawyer and lose in court whereupon he/she would shrug their shoulders and ask if my check is good. What I haven't been able to do is get a determination (see previous post) from the State workers comp agency. They just offered to fax me a copy of the statutes.
I did get a reply from one state employee that says if I have 3 or less employees then I don't need to get workers comp for any of us. However, unlike that person, I know of NC Statute 97-19.1 that singles out 'truckers' and you need to have only one employee before requiring workers comp.