The best way to reduce your accident insurance policy premium is to improve the safety culture and performance in your workplace.
What does this mean for me?
Creating a safer workplace means looking after your workers. It results in fewer workplace injuries (and WorkCover claims). The lower your claims costs are, the better your policy rating and the lower your premium.
How can WorkCover help me do this?
Talking to us about your policy and workplace can have great benefits for you and your workers. WorkCover Queensland can help you to:
- improve return to work strategies like suitable duties plans
- find industry cases studies that show the best ways to maintain a safe workplace for your workers
- understand how we look at your performance and the way it relates to your industry overall
- work with Workplace Health and Safety Queensland to develop workplace health and safety initiatives.
Taking positive steps to be a safe and responsible employer has many benefits. It not only helps protect your workers but also reduces your premium, your industry rate and the average premium rate for other Queensland businesses.
How else can I lower my premium costs and benefit my business?
Employing apprentices in your business can bring numerous benefits, including helping you to lower your premium costs. Explore the section below for more information on how this works, how it can benefit you and what the requirements are.
If you employ an apprentice or multiple apprentices in your business, you’re eligible for a discount on your premium.
The discount works by excluding (not counting) any wages paid to an apprentice from your premium calculation. Because the amount of wages you pay is a big part of working out your premium, this will result in a cheaper premium.
You still need to declare any apprentice wages, but we will exclude them for you when calculating your premium.
The main things you need to know are listed below:
- To qualify, you need to employ and pay wages to at least one apprentice.
- Apprentices must be employed under an official apprenticeship arrangement/training contract. Please note trainees are not included - to check whether your employee is an apprentice or trainee you can search their qualification code (found on their training contract) under the Queensland Training Information Service.
- The discount covers all wages for all apprentices you employ and for work relating to the apprenticeship only.
- You still need to declare your apprentices' wages by 31 August as part of your normal wage declaration when you renew your policy. WorkCover will then deduct them. If the wages are not declared by the 31 August due date, you will not be eligible for apprentice discount.
- Your apprentices are still covered for injury by your policy and any claims made if they are injured still count towards your claims experience (claims costs). Learn more about how your premium is worked out and how this affects it.