Survey reveals most desired insurance discounts for Utah businesses are now available through association memberships.
Did you know most Utah businesses are missing out on easy workers compensation insurance discounts? We surveyed thousands of Utah businesses and found that over 40% did not know they got a discount for being part of an industry association.
If you belong to any of these associations, you can get easy money from our partner carrier WCF.
Associated Builders and Contractors (ABC) of Utah
Associated General Contractors (AGC) of Utah
Utah Home Builders Association (HBA)
Utah Manufacturers Association (UMA)
Utah Restaurant Association (URA)
Utah Roofing Contractors Association (URCA)
Utah Trucking Association (UTA)
WCF’s discount is simple. Show you are a member, take two of their safety classes per year and the 5% discount is yours. This discount is the most widely known and utilized because it has been available for years. However, our same survey indicates that only 6% of the businesses surveyed prefer the 5% discount.
The most preferred option (43%) was a dividend program paying out to companies with a safe claims history. Our insurance carriers are taking notice and are starting to create lucrative dividend programs. There are four workers comp carriers we are aware of with a dividend program. The most lucrative dividend offers up to 40% of the premium back in a dividend if there are no losses (restrictions apply).
Workers comp dividend programs are the innovative insurance wave of the future by creating more accountability and incentive for safety. Other companies have notified us they are developing their own dividend programs for future implementation. If you are a member of a trade association wanting to participate in one of these dividend programs, please share this article with your association director. We can fit you with the best dividend program for your members.
If you are a business owner and would like to participate in the association safety poll to continue to provide data supporting great insurance and safety resources, follow this link.
