We are really excited for our clients who are in the plumbing industry. 2020 has brought an even softer workers’ compensation insurance market that has continued to drive down workers’ compensation insurance premium to record lows. A few years ago a small pluming contractor with a couple employees were spending close to $11,000 on average for their workers’ compensation insurance premiums. We recently helped one of our clients located in Long Beach, CA reduce their premiums from $10,800 down to $6,500.
Yes we did make some additional changes to their workers’ comp policy such as adding a new class code for one of their higher wage earners. If we had not made that change this Plumbing Contractor would have seen premiums around $8,000. Either way we saved them a bundle.
We reached out to a few other Plumbing contractors here in the Long Beach area and they are also seeing some great savings that are very similar to our client’s. One of these plumbing contractors was spending $8,700 and we were able to get their workers’ compensation insurance premium down to $7,878. Clearly this company was with a more competitive insurance carrier but even at that we saved them nearly 10% which is great news.
If you are in the Los Angeles, or Orange County area and you operate a plumbing business, give us a call and let us save you money on your workers’ compensation insurance. Every dollar you are not spending on insurance is money you can use for you and your family.