Anyone using pay as you go or have any information positive or negative with regards to it? We've been reading and researching quite a bit and was hoping to get some input from anyone thats using or has used it.
You are better off talking with an insurance company like Federated Insurance and take a high deductible for incidents. (you will pay for small things like stitches, etc) They will manage them for you, but not count against you or report to NCCI
Pay as you go, as I have been told, is not the greatest, nor can it truly give you a mod rating for better rates over time
Larger policies are audited premium and you pay based on actual hours; the only difference is one way you either owe more or less a year later when they audit and I think the deposit is less for audited premiums. If you are doing any kind of time tracking in software then you have everything you need for audited premiums which I think cost less. I can't remember when we didn't have audited premiums, its been at least 20+ years.
I use the state homebulders insurance, they will have a monthly form you fill out your actual payroll and use the % multiplier to get amt for comp. then that is multiplied by your loss primary multiplier and send in the bucks, i love it, last year my audit was quick and i was off by three dollars,,
We use Gusto for our payroll and AP Intego, their insurance partner. It is very similar to ADP, but was quite a bit cheaper for payroll. We have two guys working for us. 5% for our guy that stays in the shop, and 8% for our shop/install helper.
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