Straight Talk About Workers Comp

A reader writes: “This isn’t insurance! It’s thievery! My premiums for just a helper and me would be $547 a month. What am I supposed to do? Pay and go broke? Never!” This Long Island contractor is not alone in his anger. Thousands of other contractors fume when they get their workers compensation bills. With premium hikes averaging 12% per year nationwide and sometimes running as high as 40% in certain states, they have reason to complain. Even the most docile contractor eventually asks two questions: Why are costs so high? and What can I do to lower my premiums? The answers aren’t just academic. Although a large portion of your premium is influenced by costs you can’t do much