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Credits are a discount off the amount of premium you pay on your work comp policy. Think the “good driver” credit on an auto insurance policy.

Available credits which an insurer may give you (usually through the assistance of your insurance broker) include:

  1. Credit for signing up online
  2. Discount based on the size of your policy
  3. Discount for Safety Program or Safety Committee Program
  4. Discount for Drug Free Workplace
  5. Discount for computerized payroll system
  6. Discount for Drug and Alcohol Programs
  7. Discount for Managed Care Programs
  8. Premium discount offered by underwriter or insurance broker
  9. Contractor/Construction Classification Premium Adjustment Programs
  10. Discount for Early Return to Work Program
  11. Schedule Credit: A discretionary premium credit given by the underwriter based on his evaluation of the special characteristics of a risk
    for a specific employer. This credit is given if the underwriter feels that the employer’s risk is “lower” than that of the typical employer classified under that occupation’s “experience modification” rate.

A discretionary premium adjustment based on underwriters evaluation of special characteristics of a risk not reflected in the experience modifier.

We help connect you with insurance brokers who ensure their customers get the maximum credit on premium under work comp insurance policies. We are happy to do that for you.

Credits for most employers run from 25 – 65%. This means you can reduce your yearly work comp premium by 25 to 65% by securing all available credits.

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