Monthly Workers Comp Payments
Our 12 equal workers comp payment and billing programs help improve cash flow for employers.
A work comp program designed to improve employer cash flow for small business owners.
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Equal Installment Plan for Financing Work Comp
Easy Payment Plans Available
We offer the most flexible workers comp payment options in the United States. We've partnered with some of the biggest and most creative workers compensation carries in the country, and we went back to the drawing board with our carriers to develop better payment programs to help our customers get their most affordable policy fast and with better cash flow options.
Several of our payment options require zero down deposits to make it more affordable to purchase and maintain coverage. We've also spread the payment terms out longer over a longer period of time. Why pay in full or make premium payments over 4 - 6 months when we can help spread your workers comp payments out of over 11 or 12 months.
* Our 11 and 12 equal payment programs are not available for all risks or all by all of our insurance companies.
Our equal monthly installments and other flexible payment plans are similar to traditional direct bill workers compensation programs in terms of being based on estimated payroll by classification code and billed directly to the policy holder's business address. However, our new insurance plans are better because they improve business cash flow for the policy holder and they often reduce the deposit amount required when you bind coverage, spreading the premium payments out over the entire policy period.
Workers Comp Billing Example: 12 Payments
|Carrier Expense Constant:||$200.00|
|Remaining 11 Installments:||$852.16|
Our equal installment and Flex-Pay payment plans are perfect for companies with annual premiums over $3,000. They generally work better for employers who have a consistent and predicable payroll. Employer's who have fluctuating or seasonal payrolls, or more than 3 workers' comp class codes may prefer our monthly reporting programs or Pay As You Go programs.
Call us today at 888-611-7467 to find out if your business qualifies for one of our easy and flexible payment plans. Or get started with an online quote now and we will find the best solutions for your coverage.
Billing and Coverage Options
Insurance Company Payment Options
Insurance companies vary widely on payment terms and options. Most of our carriers offer payment options including:
- Installment checks by mail
- Payments over the phone by bank or credit cards
- Online payments
- Direct Pay As You Go options
- Agency bill Pay As You Go
- Monthly Self Reporting
Payments and Late Fees
Most insurance companies charge late fees when payments are made after the due date. Insurance companies may even issue a notice of cancellation when a payment is later than 10 days. It is important that business owners make timely payments for their insurance coverage as it can become difficult to replace coverage with a new carrier once an employer has had their insurance policy cancelled.
How to Combine Payroll and Workers Compensation?
At Workers Compensation Shop.com, we work with payroll service providers throughout the United States to help business owners cash flow their workers compensation via the payroll process. We're happy to either recommend a payroll partner in your area or work directly with your current company to integrate your workers compensation billing with your payroll.
If you process your payroll internally we offer an agency bill Pay As You Go program that enables you to report your payroll by classification code to our agency at the end of each pay period or month. We provide you with class code billing rates so you know exactly how much your premium will cost each period.
Get a free insurance comparison today and see if your business qualifies for lower rates.
How Does Workers' Compensation
- What is Workers Compensation?
- The Basics of Workers Comp
- Workers Compensation Q and A?
- Insurance Laws for Work Comp
- Managing Policy Claims
- Getting Work Comp Benefits
- NCCI Classification Codes
- Experience Modifiers and Ratings
- State Fund Coverage
- Handling Workers Comp Audits
- Understanding an Employer Liability Policy
- Excluding Owners and Officers
- Mutli-State Coverage
Our Best Selling Workers' Comp
- Auto Service
- Beauty Salons / Spas
- Home Health / Assisted Living
- Lawn care and Landscaping
- Office and Technology
- Restaurants and Bars
- Artisan Contractors
- Daycare / Child Care
- Janitorial Services
- Non-Profit Organizations
- Professional Services
- Retail Stores / Wholesale Distributors
WHY SHOP WORKERS COMP WITH US?
MORE THAN 35 CARRIERS TO QUOTE
We work with over 35 workers comp insurance companies across the U.S to shop your insurance coverage for the best price.
LOWER MONTHLY PAYMENT PLANS
With dozens of Pay As You Go and easy installment plans to choose from, you get more flexible options for your business.
EXCLUSIVE WORK COMP PROGRAMS
We've developed Target Programs with our insurance companies to help find you the right insurance product with lower rates.