Employers might want to consider New Hampshire Workers’ Compensation to comply with state laws and help protect their business. Workers’ Comp helps to ensure that employees can receive medical benefits and lost wages if they incur workplace-related accidents or illnesses. Likewise, you can minimize your liabilities in these instances.
PolicySweet® offers New Hampshire Workers’ Compensation insurance quotes to help ensure your organization remains financially protected and legally compliant. Consider allowing us to tailor a comprehensive plan that suits your company’s unique operations.
What Does New Hampshire Workers’ Compensation Insurance Cover?
Depending on the nature of your business and industry, you may need specific coverage to help protect yourself from associated risks. As such, it can be critical to discuss your situation and circumstances to help ensure you get an adequate policy for your company.
Despite the relativity of Workers’ Comp insurance policies, you could expect some standard benefits, like the following.
Medical Benefits:
Medical care is standard coverage for many New Hampshire Workers’ Compensation insurance policies. Employees who survive accidents in the workplace or develop illnesses because of their duties can receive financial assistance. Workers’ Compensation can help pay for medical expenses, prescription medicines, in-house treatments, and even ongoing care.
Lost Wages:
An employee’s condition may leave them unable to work after encountering an accident in your workplace. In these cases, your Workers’ Compensation policy can help pay for the wages they miss while they recover.
Who Needs New Hampshire Workers’ Compensation?
Most employers in New Hampshire with full- or part-time employees can benefit from Workers’ Compensation. You can confirm your requirements if you are unsure whether you must obtain New Hampshire Workers’ Compensation. Consider speaking to our experts at PolicySweet to understand your responsibilities.
Who Is Exempt From Getting New Hampshire Workers’ Compensation?
New Hampshire law exempts some employers from carrying Workers’ Compensation depending on their classification. These businesses include:
- Sole Proprietorships
- Limited Liability Companies
- Corporations
Sole proprietorships without employees can opt out of Workers’ Compensation. LLCs and Corporations with a maximum of three members and no employees can also opt out of getting New Hampshire Workers’ Compensation. Once a new employee or executive officer comes in, Workers’ Comp may be mandatory.
You may still elect to obtain Workers’ Compensation coverage even if the law exempts your business. With New Hampshire Workers’ Compensation, your policy can cover the members of your organization unless you elect to exclude specific members. For more information, consider speaking to our experts at PolicySweet.
How Much Does New Hampshire Workers’ Compensation Cost?
Rates for New Hampshire Workers’ Compensation insurance can depend on unique factors surrounding your business, including the following:
- Risk factor: Different businesses operate in various industries, all of which have multiple levels of risk involved. Employers in high-risk industries may be more prone to workplace accidents than other business owners. As such, they might need insurance policies that can cover the likelihood of accidents they could encounter.
- Number of employees: How many people a company has on the payroll can factor into the Workers’ Compensation rate that may suit an employer’s needs. Workers’ Compensation can cover the workers under an organization to help ensure they have necessary financial protections.
- Claims history: If you sought New Hampshire Workers’ Compensation in the past, your price might adjust accordingly. Likewise, the benefits you are eligible to receive may depend on the number of workplace accidents and illnesses that your company has encountered within a specific timeframe.
Budgeting for New Hampshire Workers’ Compensation may be challenging as there is no set price to consider. Still, you can get advice from certified agents to help understand how much you could pay to remain financially protected.
PolicySweet has seasoned Workers’ Comp experts who can assess your situation, circumstances, and history. This way, you can determine how much you would pay for New Hampshire Workers’ Compensation insurance. Get a free quote today!
PolicySweet: Obtain Your New Hampshire Workers’ Compensation Insurance
New Hampshire Workers’ Compensation insurance can be necessary for most employers in the state who want to maximize their company and employees’ financial protection. Workplace accidents are usually avoidable, but they can still happen.
In such cases, it can be critical to keep operations going while the affected individuals get time to rest. With an insurance policy that can cover your needs, you may have a better chance of staying on top of your game despite unfortunate events.
PolicySweet agents are standing by to help craft an insurance policy that can suit your line of business. Get in touch with us today to discuss your needs!
Please Note: State-specific information is subject to change at any time. Always consult with your state’s official information and resources for the most accurate information.