Renewing Your Policy
Your workers' comp policy is like an ID badge. It shows clients your business has coverage while you work. When it's almost over, you can get a new one. You don't want to show up without your badge. You don't want to work without coverage. Renewing your policy is the same as buying a new one. You start again with the same kind of proof. You can get your new policy by starting a quote. The new policy shows the same proof to your clients as before. You just need to follow the same steps you did the first time.
What Might Change in Your Policy
Your new policy might look a little different than the old one. The price is the program's flat price for your state and your trade, so check it in your new quote. Your class code might change if the kind of work you do has changed, and in Iowa and Indiana your trade sets the price. You can see what your new policy costs by getting a new quote.
Why the Price Might Be Different
A ghost policy has one flat price. Your state and your trade set it. It does not go up when you work more hours, and it does not go down when you work fewer. If the price in your new quote is different, it is because the program's price for your state or trade is different, or because your trade changed. You can see how much it costs by getting a new quote.
What to Check Before Renewing
Before you renew, check a few things. First, is your class code still right for the work you do? If you changed what you do, you might need a new code. The class code is a number that tells the insurance company what kind of work you do. If you start doing a different kind of work, the number should change too. Second, is a ghost policy still the right policy? A ghost policy is for the owner only, with no employees and no subcontractors of any kind, even subs who carry their own insurance. If anyone else now works for you, you need regular workers' comp instead. Work above 15 feet can't be covered by this program either. Third, who needs proof? Certificate holders are the people or companies that want proof of your coverage. Send each of them your new certificate, because it shows the new dates. Check these things to make sure your new policy is right for you and your business. You don’t want to miss something important.
What Happens if You Don't Renew
If you don't renew, your coverage stops. That means you have no proof of coverage anymore. If a client asks for proof and you have no policy, you can't show it. That might be a problem. Some clients need proof before they let you work. If you can't show it, you might lose work. You can start again later. It's better to renew on time. That’s why it’s important to act before your old policy ends. Don’t wait until the last minute.
How to Renew Your Policy
To renew your policy, start by getting a new quote. That's the only way to renew with Uno. The quote shows the new price and the new terms. If you like it, you pay by card and sign your documents. Cimarron issues your new policy within 24 business hours of your payment and signed documents. You don't need to talk to anyone. You just follow the steps to get your new policy. It's the same process as when you first bought it. You can start your quote now to see how much it will cost. You don’t need to talk to anyone to renew. You just follow the steps. The quote gives you the real price for your business. It's simple. Your quote takes minutes.
What to Expect After Renewal
After you renew, you'll get a new policy. The new policy gives the same proof as before. But it might look a little different. Your certificate shows the new dates. You can send the new certificate to your certificate holders. You can show the new certificate to your clients. You can also keep a copy for yourself. You don’t need to do anything else. Your policy is active once Cimarron issues it. Your business has coverage again, and you can keep sending your certificate. Just make sure the new policy has the right class code. That’s all you need to know about your new policy.
