Small deductible plans
For small or medium-sized businesses like yours, finding the right workers’ compensation program can be hard—after all, balancing the bottom line with your interest in an involved approach is difficult. But with a small deductible workers’ compensation plan from Sentry, you can enjoy a reduced premium and access to our experienced claims team while paying a small deductible when a claim does happen. We’ll work directly with you to help find the plan that works for your company.
FAQs
A small deductible plan may be right for you and your business if you’re a small- or medium-sized company, or if you’re ineligible for more complex programs. Large deductible plans, meanwhile, are similar to self-insurance and are typically selected by larger companies with sophisticated loss control programs and insurance experience. Small deductible plans allow you to pay a reduced premium in exchange for your insurer—Sentry, for example—handling your claim. You would then reimburse us the deductible for the claim.
You may find that the definition of a small deductible varies greatly, depending on your state. While small deductible plans are available—and occasionally mandatory—in most states, the individual states determine the details. Your small deductible may be as little as $100, or as large as $75,000. Eligibility follows much the same pattern. Depending on your state, you may be required to pay a minimum annual premium, obtain a letter of credit, or secure other documents. But no matter the case, we’re here to help you find the answers you need.
With your small deductible plan, your workers’ compensation claims will fall under one of the following three categories:
Indemnity deductibles: Payments for an injured employee’s lost wages
Medical deductibles: Payments for an injured employee’s medical costs
Claims deductibles: Payments for both an injured employee’s lost wages and medical costs
Regardless of the category, you can feel confident that our experienced claims team will handle your claim promptly and fairly.
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