Getting a workers compensation quote involves more than just paperwork. Having the right information helps you secure the best rates and ensure your employees have been properly classified. From understanding the impact of job classification codes to calculating your experience modification factor (e-mod), each piece of the puzzle comes together to create a fair premium cost for your business.
At MEM, we aim to make the process smooth and transparent. Having the right information streamlines the process and provides long-term benefits. This includes offering proactive safety services and personalized claims care to protect your team.
Check out this video on what you need to know about your work comp quote:
Here are the top 10 things you’ll need before submitting your work comp business:
- Client information. Have your full name, address, phone number, and email.
- Business start date. On what date did your business start?
- Federal employer ID number. This ID number is essential for your tax filings.
- Work comp loss history. Have you experienced a claim in the past? Prior claims may have an impact on your premium.
- Business states. Bring a list of every location where your business operates.
- Employee count. How many people work for you? Tally the total number of workers.
- Business operations description: What does your business do? Manufacturing, healthcare, or something else?
- Job classification codes: Each job role has a risk factor.
- Payroll amounts: Payroll figures for each job code help assess risk exposure.
- NCCI Experience Modification Rate (E-Mod): This factor plays a significant role in determining premiums.
At MEM, we understand how to help businesses work with confidence. From premium calculations to safety programs, we’re committed to providing the resources needed to maintain a safe and healthy workplace.
When you are ready to get your work comp quote, reach out to your work comp agent or visit https://www.mem-ins.com/find-an-agent/ to find an agent close to you.