The manual base rate and other rating information used by WorkCompare.com are updated regularly; however, the information displayed may not reflect the most current rate changes filed by the insurance companies.

Please be aware that some insurers have eligibility requirements such as minimum premium size, years in business, or preferred classifications, which may prevent them from providing quotes to all employers. This should not deter an employer from contacting as many insurers as possible, as the price variations are significant and can result in substantial savings. Also, be sure to ask whether the insurer can provide discounts for membership in safety groups, trade associations, or discounts for schedule rating plans, premium discounts, the use of preferred providers, or other credits.

Before requesting a quote from a particular insurer, it is recommended that you check the insurer's financial rating through a financial rating organization such as AM Best, Standard & Poors, Fitch, Moody's, and Weiss Ratings, or directly with the insurer. Some of the rating organizations will charge a fee for providing a financial rating grade.

A knowledgeable and ethical broker with access to markets can be a valuable resource when shopping for workers' compensation coverage. Employers should check to ensure that brokers are licensed and do not have negative disciplinary records. Licensing information may be obtained from the California Department of Insurance (License Status Inquiry).

Employers should be aware that switching insurers mid-term prior to the expiration of the current policy may result in a "short term cancellation penalty." Check with your broker or insurer to determine whether a penalty applies and whether it is beneficial to change insurers mid-term or to wait until renewal. If a short rate cancellation penalty applies and the replacement policy's rate is slightly lower than your current rate, it may be best to change insurers at renewal, so as to avoid the short rate cancellation penalty.

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