what is guaranteed cost workers compensation
Workers compensation insurance coverage is a critical component of a companys day to day operations. That being said, it is important to evaluate all of the different types of programs available. Guaranteed cost is the most basic option when it comes to insuring against employee injury, illness and disease in the workplace. A guaranteed cost plan is the most widely available and commonly purchased workers compensation program. Premiums are based on payroll, specific classification codes and premium rates per $100 of payroll.