Lower Workers' Compensation Costs by Having a Plan

Having comprehensive plans in place are the most impactful way to mitigate workers’ compensation costs, says the National Association of Home Builders. There should be a detailed safety training program in place to prevent jobsite accidents, which then inherently lowers workers’ compensation costs. Some incidents cannot be prevented, such as accidents that even builders with a safety-first mentality encounter. When that happens, there should be another plan in place. A Carolina home builder teamed up with an insurance expert to help builders figure out each step of their plan for when a worker gets injured. Read more to see what they suggest.

Alan Banks, a home builder in the Carolinas, teamed up with insurance expert Treacy Duerfeldt of the Nationwide Contractors’ Alliance to create a video explaining exactly how home builders can reduce their workers’ comp costs.

The video, embedded below, notes that the best path to lower costs is having a plan in place to deal with injuries that includes:

Knowing the location of the closest healthcare provider for each job site;
Having a policy that prevents injured workers from driving themselves to seek medical care;

Read More