Why Self-Insurance Can Be A Great Idea

The idea of self-insurance can be a great one for those businesses looking to try to save some money when it comes to their insurance premiums. This type of insurance program may not be a great idea for every single business, however, so it’s important that any business that decides to undertake this type of insurance program is able to meet all of the requirements associated with it. With the right money and choosing the right program, a business may be able to see some savings as far as their insurance policies are concerned.

For instance, it is generally required for businesses to have some sort of worker’s compensation coverage. A business might choose to self-insure as far as worker’s compensation is concerned because they are not too worried about employees getting injured, or it is not a big risk for that business. They are still required to have such coverage, however. If a business does decide to self-insure, there are certain requirements they must meet before they can take that on. This can be a good idea for some big businesses. It is important to inquire about it thoroughly if you are interested, however, since it may not be a great idea for every business.

If a business is looking for a way to save money over something that is not necessarily a high risk, self-insurance may be an option. For further information about Caitlin Morgan Insurance, click here to visit their website for more information.

Categories: Insurance
This post was written by , posted on October 17, 2012 Wednesday at 10:49 pm

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