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It's renewal time. Are you getting the most for your money?
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Answer a few simple questions about your workers' compensation insurance.
You just might get some useful tips to save time and control your costs.
Automatic Data Processing Insurance Agency, Inc. (ADPIA) is an affiliate of ADP, LLC. All insurance products will be offered and sold only through ADPIA, its licensed agents or its licensed insurance partners; 1 ADP Blvd. Roseland, NJ 07068. CA license #0D04044. Licensed in 50 states. All services may not be available in all states. Some carriers may charge an additional fee for services. While premium deposits may be eliminated by most carriers, mandatory state assessment fees may be required by some states. This information is not intended as tax or legal advice. If you have any questions, contact a tax or legal professional.
The ADP Logo and ADP are registered trademarks of ADP, LLC. All other trademarks and service marks are the property of their respective owners. All rights reserved. ©2021 ADP, LLC.
The ADP Logo and ADP are registered trademarks of ADP, LLC. All other trademarks and service marks are the property of their respective owners. All rights reserved. ©2021 ADP, LLC.
We pay our workers' compensation premiums:
/a-light-blue.png) | With a big upfront deposit |
/a-dark-blue.png) | With a big upfront deposit |
/b-light-blue.png) | With every payroll |
/b-dark-blue.png) | With every payroll |
/c-light-blue.png) | Whenever we get a cancellation warning |
/c-dark-blue.png) | Whenever we get a cancellation warning |
/d-light-blue.png) | I’m not sure |
/d-dark-blue.png) | I’m not sure |
Our workers' compensation policy covers:
| Full-time employees only |
| Full-time employees only |
| Everyone except contractors |
| Everyone except contractors |
| All employees are paid on a W-2 |
| All employees are paid on a W-2 |
| Everyone except owners and officers |
| Everyone except owners and officers |
We review our employees' classification codes:
| Once a month |
| Once a month |
| Annually |
| Annually |
| When our accountant tells us to |
| When our accountant tells us to |
| What’s a classification code? |
| What’s a classification code? |
Our workers' compensation premiums are calculated based on:
| Our estimated payroll for the current year |
| Our estimated payroll for the current year |
| Actual payroll each month |
| Actual payroll each month |
| Last year’s average payroll |
| Last year’s average payroll |
| The carrier’s secret formula |
| The carrier’s secret formula |
When we need a certificate of insurance, we:
| Call our broker/agent, carrier or CPA, then wait for a copy to be mailed or faxed |
| Call our broker/agent, carrier or CPA, then wait for a copy to be mailed or faxed |
| Give the requestor our carrier’s name so they can ask for it |
| Give the requestor our carrier’s name so they can ask for it |
| Request it online and get it immediately, 24/7 |
| Request it online and get it immediately, 24/7 |
| We don’t need certificates of insurance |
| We don’t need certificates of insurance |
We've taken advantage of workers' compensation credits for programs like these:
| Workplace safety |
| Workplace safety |
| Drug and alcohol prevention |
| Drug and alcohol prevention |
| Both of the above |
| Both of the above |
| None of the above |
| None of the above |
Our independent contractors (workers paid on 1099s) are:
| Covered under our workers’ compensation policy |
| Covered under our workers’ compensation policy |
| Responsible for their own coverage |
| Responsible for their own coverage |
| Asked for proof of coverage the day they start insurance |
| Asked for proof of coverage the day they start insurance |
| We don’t use independent contractors |
| We don’t use independent contractors |
The state we're based in allows our company's owners and officers:
| To be covered under our workers’ compensation policy |
| To be covered under our workers’ compensation policy |
| To be excluded from our workers’ compensation policy |
| To be excluded from our workers’ compensation policy |
| To choose whatever coverage best suits them |
| To choose whatever coverage best suits them |
| I’m not sure |
| I’m not sure |
Our annual workers' compensation audit generally shows a variance of:
| +/- 10% |
| +/- 10% |
| +/- 25% |
| +/- 25% |
| +/- 40% or more |
| +/- 40% or more |
| I don’t know |
| I don’t know |
Our current workers' compensation agent:
| Proactively researches programs to save us money on our premiums |
| Proactively researches programs to save us money on our premiums |
| Is readily available to assist with carrier or claims issues |
| Is readily available to assist with carrier or claims issues |
| Seems to have our account on autopilot |
| Seems to have our account on autopilot |
| Wait! We have a workers’ compensation insurance agent? |
| Wait! We have a workers’ compensation insurance agent? |
