If you have employees, you have Worker’s Compensation insurance that is required by the State of Nevada. Are you contacted by your insurance agent at least once a quarter? Does he take the time to check in and see how things are going? More importantly, does he ask for your quarterly payroll figures?
Not only is a call from your agent just good old-fashioned customer service, but the ramifications of not reporting the correct payroll figures to your insurance carrier can result in receiving a bill that you weren’t prepared to pay. After each policy year the insurance company will conduct an audit. If the payroll numbers exceed the number they were provided in preparing your premium your carrier will readjust the premium and send you a bill for the difference. And it’s due upon receipt. It can result in thousands and thousands of dollars, especially if you are growing and adding staff. A good insurance agent will be proactive, contact his clients about their payroll numbers to ensure they don’t get a surprise in the mail from their insurance carrier.
If you only hear from your agent once a year at renewal time, then fire him. I mean it. Fire him. He is providing no service to you nor does he have your best interest in sight.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment