We at Kansas Preferred Insurance Group provides Kansas workers compensation policies to over 200 businesses throughout the state of Kansas. In addition, we custom tailor your policy to fit your specific needs and business industry with one of our over 60 insurance companies.
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Kansas Workers' Compensation Insurance Explained
Workers' Compensation Insurance:
Worker's compensation provides coverage for medical expenses, lost wages, and rehabilitation costs to your employees who are injured or become ill during their job.
Workers' Compensation Claim Filing:
Employees who file claims for workers' compensation insurance can only do so if their duty causes their injury or illness while they are on the job.
For example, an employee is bringing in new stock off the truck for your grocery store. He goes to lift a box of potatoes and herniates a disc in his back.
Workers' Compensation Cost Determination:
Rates for workers' compensation insurance are determined based on the experience rating, which looks at the number of losses in your similar businesses in the past five years. Businesses have significant control over the cost of their workers' compensation. Each company has an experience modification. This looks at your specific loss history for the past five years; this rewards businesses with safer loss history with lower rates and penalizes businesses with unsafe loss history with higher rates.
For example, you have two identical roofing companies in size, employees, and gross revenue. One company has had no claims for the past five years and has bi-yearly safety seminars for its employees. The other company has multiple claims and refuses to take any safety precautions to train their employees differently. The first company will have more companies available for quotes and lower premiums than the second company.
Selecting the correct Kansas work comp insurance depends on several factors, not limited to the amount of assets you need to protect, and the size of your company. Our experienced Kansas work comp insurance advisors can help guide you through the process and help you select the correct work comp insurance for your specific needs
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