Running a business can be costly, and every year, it seems like the price of doing business rises just a little bit more. One of the best ways to save costs at your farm or other business is to make sure your business is up-to-date on all its safety features and compliant with the latest OSHA regulations. Here’s how:
- First, updating your business’ safety plan and features can result in significant savings in your insurance costs. Insurance companies determine premiums based on a business’ risk. Some businesses are considered to be riskier than others based on the type of business, the business location or other factors. But that’s just part of the risk analysis. A large part of a business’ risk profile is based on its safety programs and its level of compliance, as well as its history of accidents and claims. Businesses that take the time to understand and comply with OSHA regulations and to implement robust safety programs can reduce the likelihood of accidents and thus be perceived as a “better” risk – and that can result in lower premiums.
- Second, making sure you’re in compliance with OSHA guidelines and other regulations can save you money in terms of fines and penalties. If your business is found to be in violation of an important safety regulation, it could be subject to financial penalties or even shut down until changes are made to bring the business into compliance. If your business is shut down for even a single day, that can result in a significant loss of income, not to mention a “ding” against your business’ reputation.
- And finally, keeping a safe workplace usually means a lower risk of accidents, which means your employees are less likely to become injured. Fewer injuries mean a reduction in employee absences as well as a reduction in costly workers’ compensation claims and medical insurance premiums.
At Basi Insurance Services, we have a dedicated safety coordinator whose sole job is to make sure our clients have the guidance they need to establish and maintain comprehensive safety programs designed to keep them compliant with OSHA and other regulations. In addition to telephone consultations, we offer on-site visits with employee training in both English and Spanish to help ensure everyone is “on track” with existing safety programs and to aid in implementation of new initiatives.
If you’d like to learn more about safety requirements for your business and find out what changes you should make to stay compliant – and to potentially lower the costs of your premiums – we can help. Call Basi Insurance Services today at 877-590-4826 or call 209-847-3065 and speak directly with Safety Coordinator Aaron Canez.