Our Products & Services
Workers Compensation Insurance
Workplace Injury Insurance
Motor Carrier Workers Compensation Coverage
Workers Compensation insurance is vital for motor carriers, as it protects’ businesses from liability. If one of their employees is injured while on the job. Additionally, Workers Compensation insurance is required by most states. This coverage typically provides four types of benefits to your injured employees:
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Medical Expenses
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Lost Wages (Indemnity)
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Rehabilitation
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Death Benefits
As a motor carrier, it's essential to choose an insurance provider who understands the unique needs of your trucking operation. Not all trucking companies have the same requirements, and selecting the right coverage is crucial to ensuring your business is adequately protected.
Focusing Exclusively on Trucking Operations
At iAgency, we specialize in the trucking industry. With over 65 years of experience, we provide expert insurance solutions tailored to the unique challenges of trucking companies, including truck drivers, owner-operators, and motor carriers. We are committed to providing policies that meet the needs of your operation.
Our Workers Compensation insurance is available in over 20 states, offering you the broadest possible coverage territory. We understand the nuances of the trucking industry, and our policies are crafted to address its specific demands, ensuring your business is properly protected.
Workers Compensation
Risk Financing Options
For small to medium-sized motor carriers, a Guaranteed Cost Workers Compensation policy might be the right fit. However, for larger trucking companies with the financial stability to assume more risk, there are alternative options that can lower premiums. At Great West, our team of experienced underwriters is ready to help you find the right risk financing options tailored to your specific business needs.
Excess Workers Compensation Plans
If your trucking company has received self-insured status in your state, an Excess Workers Compensation policy can be an excellent way to manage your financial risk. This policy covers claims that exceed the maximum limit of your self-insurance, reimbursing your company up to the policy limit. By capping your financial liability, an Excess Workers Compensation policy provides protection against large claims.
Large Deductible Plans
For large motor carriers who are financially stable and committed to maintaining strong loss control measures, a Large Deductible Workers Compensation plan can be a cost-effective risk financing option. By opting for a higher deductible, your trucking company assumes more risk in exchange for lower premiums. This plan allows you to retain control over workplace injury claims while enjoying reduced costs.
Retrospective Rating Plan
The Retrospective Rating Workers Compensation Plan rewards companies that focus on safety and have a solid claims history. This plan adjusts your premium after the policy term ends, based on your actual claims during that period. If you have few claims, you can receive a reduced premium, while more claims result in an increased premium. It’s a great option for motor carriers dedicated to promoting safe operations and reducing losses.
