Large Deductibles

In a nutshell, when you select a large deductible Workers Comp plan, you are choosing to have your trucking company fund the first “layer of a loss” — or the amount up to the deductible you choose.

Here’s how it works:

• Your trucking company purchases a Workers Compensation policy with a deductible of at least $75,000. (Many companies choose a deductible of $250,000 or more.)
  
  
• When one of your employees has an accident and files a Workers Comp claim, the seasoned team of Great West claims experts provides administrative and claims services, just as we would with a traditional Workers Comp plan.
  
  
• After the claim is paid out, your trucking company reimburses Great West for any losses below the per-claim deductible you selected.

Great West’s plan with large deductibles always includes indemnity and medical payments, but the responsibility of paying the allocated loss adjustment expenses (ALAE) differs. Your Great West agent can walk you through the two options available for this program.