Insurance Xdate > Reports > NJ > Premier Car Services Corp Inc
Commercial Insurance Overview
Premier Car Services Corp Inc is based in Morris county in New Jersey. They operate in the Transportation/Utilities industry, specifically in Taxicabs, which is a low risk industry. The business is in the Assigned Risk pool, which means they are (or were) a high risk business. , but based on their MOD they should look at leaving the AR pool.
They have been with the same worker's comp carrier for the last 2 years. We have coverage data for them in a single state.
An Experience Mod (MOD) is a rate applied to the business. It represents how risky the business is based on past claims. This business has a MOD of... You'll need to join... Which is an excellent rating no matter the industry, and should be able to shop aggressively. The rating based on their claims (MOD) went down by -38% which is great. It might make sense to shop around for new coverage. Carriers love lower risk.
We know the Standard Premium for this company. You can see how it compares to similar businesses in the Market Comparison. The premium paid has decreased by -36%, does this mean payroll is decreasing or are they managing their risk better?
Premium Comparison
This chart represents the range and distribution that carriers are charging per $100 of payroll for businesses similar to Premier Car Services Corp Inc. This can give you an idea of what carriers might best fit your business.
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Erie Ins Grp
Pol Rate: 1.50 Med. LCM: 1.50 | $1.50
32117 Businesses 2242 | |
Berkshire Hathaway Grp
Pol Rate: 2.20 Med. LCM: 2.20 | $2.20
25207 Businesses 6534 | |
Hartford Fire & Cas Grp
Pol Rate: 1.91 Med. LCM: 1.91 | $1.91 87%
22158 Businesses 2305 | |
Travelers Grp
Pol Rate: 1.32 Med. LCM: 1.32 | $1.32
14924 Businesses 1409 | |
Amtrust Ngh Grp
Pol Rate: 1.85 Med. LCM: 1.85 | $1.85
13877 Businesses 1630 | |
State Farm Grp
Pol Rate: 2.09 Med. LCM: 2.09 | $2.09
5438 Businesses 624 | |
Selective Ins Grp
Pol Rate: 3.03 Med. LCM: 3.03 | $3.03
5406 Businesses 336 | |
Markel Corp Grp
Pol Rate: 2.06 Med. LCM: 2.06 | $2.06 2%
5380 Businesses 375 | |
Proassurance Corp Grp
Pol Rate: 1.65 Med. LCM: 1.65 | $1.65
5258 Businesses 382 | |
Liberty Mut Grp
Pol Rate: 1.56 Med. LCM: 1.56 | $1.56 25%
4667 Businesses 343 | |
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Payroll
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Total Payroll:
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Calculate Premium Estimates
Enter the State, Mod, and Payroll for each employee class to get premium estimates from the top carriers writing that class of business
Carriers are sorted by number of accounts in that class of business.
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Market Comparison for Premier Car Services Corp Inc
These are points that might help guide an agent as they look to approach a prospect.
- A break in policy terms may indicate inconsistent work load which can result in substandard employment.
Worker's Comp premium is based on two key factors - the LCM your carrier has filed to use, and the total payroll you run over the policy term, which is multiplied by the rate to determine premium. Comparing premium to businesses in the same industry and of similar size can indicate how fair your WC insurance provider's costs are relative to the market.
- Premium is in-line with peers, in the 50th percentile.
- In the last year, premium Decreased by 36%. While peers Increased an average of 4%.
Mod is an indication of how risky a company is to insure. It is based on a company's claim history.
- Experience Mod is in-line with peers, in the 72nd percentile.
- Mod decreased by more than 75% of peers.
We measure relative change (when a business chooses a different WC provider), and market share distribution over a rolling 24 months as compared to it's industry and state level activity to determine how competitive carriers are for your class of business.
- 14% of peers have changed carriers since last year.
- Current Carrier's market share is in the 75th percentile at 6.9% of the market.
Business Owners
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- Try our 100% free premium estimate tool to compare coverage options.
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Agents
Our market intelligence, prospecting database, and software can streamline your new business process. This listings contains:
Policy Renewal Date
Current Carrier
Policy Number
Class Code
SIC Code
Premium
Ex MOD
Multi State
Assigned Risk
Carrier Tenure
Contact Phone
Website
Loss Cost
Coverage History
Carriers & Underwriters
Our data provides an unparalleled view into the commercial insurance market across the US. Examples include:
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- Competitive Class distribution
- Appetite Analysis
- Market Share Analysis
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