How Kickstand helped a NJ Florist save $4,535 on Workers’ Comp Premiums
Kickstand Insurance helped a florist cut their workers’ comp premiums by 25%, saving $4,535 a year. Find out how simply asking for a discount makes all the difference.
The Challenge: High Premium Costs
A family-owned event florist in New Jersey faced high workers’ compensation premiums. The business, classified under class codes 8001 (florists) and 8010 (clerical office employees), had a stellar claims history. Despite operating since 2001 with no significant claims, they were being charged standard industry rates.
Initially, the business owners believed their premiums were fixed and non-negotiable. However, upon reviewing their policy, they realized they might be paying more than necessary and reached out to Kickstand Insurance for help.
The Solution: Asking for a Discount
Our team took a closer look at their workers’ comp policy and immediately saw an opportunity. Their 20+ years in business with no major claims meant they were an excellent candidate for a discount. But here’s the thing: the insurance company wasn’t going to offer it automatically.
Here’s what we did:
- Highlighting Long-Term Success: We provided evidence of the florist’s exceptional safety record, emphasizing over 20 years of operations without major claims.
- Requesting Credits: We negotiated directly with the insurance company, asking for credits based on the florist’s great claims history and longevity in business.
The Results: A 25% Reduction in Premiums
Thanks to Kickstand’s advocacy, the insurance company approved a 25% credit on the florist’s workers’ comp policy.
- Original Premium: $18,143
- Class Code 8001 (Payroll: $464,000): $17,818
- Class Code 8010 (Payroll: $232,000): $325
- New Premium: $13,608
- Savings: $4,535 annually
The Takeaway
If you’re running a business, don’t assume your insurance premiums are set in stone. Many insurance companies have the discretion to offer credits—but they rarely do so without being asked.
Businesses with strong safety records, drug-free workplace policies, or claims-free histories are often eligible for discounts that can significantly reduce costs. The key is knowing what to ask for.
Snapshot
- Industry: Event Florist
- State: New Jersey
- Payroll: $696,000
- Original Premium: $18,143
- Adjusted Premium: $13,608
- Savings: $4,535 (25%)
How to ask for Credits and save on Workers’ Comp
Here are some actionable tips to secure credits and reduce your premiums:
- Ask Directly
One simple question—‘Do I qualify for credits?’—can be the difference between overpaying and saving thousands. There are often credits available for the taking but most insurance companies won’t offer credits unless you bring it up. - Highlight Strengths
Provide evidence of a great safety record, a drug-free workplace policy, or other initiatives that reduce risk. - Shop Around
Let your insurance know you’re comparing rates. Some carriers offer credits to retain or win your business. - Review Annually
Insurance isn’t “set it and forget it.” As your business improves, you might qualify for additional credits.
Experience the Kickstand Difference
At Kickstand Insurance, we dig deeper, uncover every opportunity for savings, and fight for the best deal for your business. Don’t leave money on the table—start your online quote today and let our experts help you secure the best coverage at the lowest cost.
Note: The information provided in this blog is intended for general informational purposes only and is not a substitute for professional legal or insurance advice. Laws and regulations regarding workers' compensation insurance are complex and vary by state and by specific circumstances. Therefore, readers are encouraged to consult with a qualified legal or insurance professional to obtain advice with respect to any particular issue or problem they might have.
Mordechai Kamenetsky, co-founder and lead agent of Kickstand, is recognized as an expert in workers' compensation. He is passionate about helping small businesses manage risks and lower their workers' comp costs. In his articles, he educates readers and clients on the intricacies of workers' comp insurance.
