[Rhodes22-list] workmans comp.

[Peter Thorn]

Stan,

I believe that the Dept of Insurance Rate Bureau sets the rates each year,
but different companies can offer various discounts from those rates.

You may want to look into a "Mutual" company.  A mutual company is owned by
the policy holders and return profits to them in the form of annual
dividends.   Builders Mutual Insurance Company is a good one, if, as a
boatbuilder, you could obtain a policy.  BMIC started about 20 years ago
from the NC Homebuilders Self-Insurance fund and now serves several states
in the southeast.  You would need to join your local homebuilders
association to buy the insurance.  They would likely accept you as an
"associate member" just to collect your dues.  I've found that the W/C
insurance premium savings have always more than paid for the HBA dues.
BMIC is by far the largest W/C company currently operating in NC.

Builders Mutual sells policies through local agents, but not all local
agents are qualified to sell their policies. Also, while Builders Mutual has
always been the cheapest w/c carrier, it is not competitive for other types
of insurance for us, such as G/L and property insurance.

I would also suggest you contact Jim Elliott, who sells Nationwide Insurance
in Edenton.  Jim is a Tanzer 16 sailor and one of the organizers of the
annual "Edenton Bay Challenge Regatta" headquartered by the downtown dock
every July.  I don't know if he can sell BMIC w/c coverage, but he is a
friendly and helpful person and would try to find you a good policy you can
afford.

I hope this helps.  Good luck!

PT






----- Original Message ----- 
From: "stan" <stan at rhodes22.com>
To: "The Rhodes 22 mail list" <rhodes22-list at rhodes22.org>
Sent: Saturday, March 26, 2005 7:33 AM
Subject: [Rhodes22-list] workmans comp.


    To anyone who has any experience with workman's comp insurance:

Know of any good companies we can try?

stan/gbi
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