Pay As You Go Work Comp
PaySmart offers Pay As You Go work comp coverage designed to
improve cash flow and get your comp insurance started for less
money than most traditional programs. We have access to
more carriers offering PayGo coverage because we are one of the
leaders in the payroll insurance industry.
Find out if your business qualifies for Pay As You Go coverage
by contacting one of our Payroll Insurance Specialists or simply
complete our
work comp quote request form and we will get started on your
submission right away. Our licensed agents can usually
process quote in 24 - 48 hours.
Program Features
Easy payroll work comp deduction setup
Affordable startup cost
Less than 48 hour insurance and payroll quote process
Competitive rates from national companies
Automatic renewal process to maintain coverage
Easy premium collection via our payroll processing
How Do I
Get Pay As You Go Work Comp?
PaySmart works through the Insurance Shop to get work comp
quotes much the same way a traditional agency does. The
initial quotes are based on your estimated payroll by class code
Once you decide to integrate your insurance with our payroll
processing service we issue your policy with little to no
deposit based on our specific arrangement with our work comp
carriers. We provide you with our "net rate" premium
worksheet so you know how your premium is calculated from your
actual reported payroll. Each time we process your
payroll, we bill your insurance premium via the payroll process.
At the end of each month, PaySmart reports and transfers your premium to the insurance companies and
provides them with your payroll data to apply the premium to
towards your policy.
At the end of the policy period, the work comp carriers may
request an audit to ensure that premium reported matched premium
paid and that their were no other uninsured sub-contractors or
owner payroll that should have been included. Since your
premium was paid based on actual payroll figures, our customers typically
enjoy better cash flow throughout the year and reduced audit
exposure during the audit process.
Learn More About Payroll Deducted Insurance
If you would like to learn more about our payroll insurance
products and services
contact your Payroll Specialist or complete one of our
insurance quote forms to the right.
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