Get Better Quotes 35+
Real Experts- Trusted Advice
We help business owners find affordable workers' comp insurance in New Hampshire
In New Hampshire, companies with more than one full or part-time employees are required by law to purchase workers compensation insurance. It does not matter if the employee is related, such as daughter, son, husband, etc. It also does not matter if the business is a 'Non-Profit' organization.
Sole-Proprietors and Partners are excluded from coverage, but they can elect to be included.
Corporate Officers and LLC Members are automatically included in coverage, but they may elect to be exempt.
A Corporation or LLC may elect to exclude up to 3 executive officers. However, this exclusion does not apply to such person if they actively engage in on-site work at any construction site.
The only business exempt from the work comp requirement to purchase workers' compensation coverage are sole proprietorships (self-employed persons) and corporations which have only three corporate officers and no employees other than these three officers.
Sole-Proprietors and Partners who include themselves on workers compensation coverage must use a payroll amount of $27,400 for rating their overall workers' compensation cost.
Officers and LLC Members who are included in coverage must utilize a minimum payroll of $550 per week ($28,600 Annual) and a maximum payroll of $4,200 per week ($218,400 Annual) in order to calculate the cost of workers comp insurance.
The state of New Hampshire provides a free online tool for verifying workers' compensation insurance coverage. Anyone can search by business name or FEIN. The results will only show the business name and policy number for employers who have coverage in the state being searched. The information is managed by the New Hampshire Department of Labor.
New Hampshire work comp verification tool
NH Work Comp Insurance- click or call!
m-f 8am-5pm CST 888-611-7467
Workers' compensation is a commercial insurance product categorized as Property & Casualty insurance (P&C Insurance). Even though workers comp is calculated using estimated payroll wages and class codes, premium is still a separate business expense from the cost of payroll. Business owners may treat the cost of coverage as an expense on their taxes.
Work comp rates for all job classification codes are always expressed as a percentage of $100 in wages. An annual policy is always subject to an audit because it was based on estimated wages and not actual wages.
Here is an example using two class codes with different estimated payroll for each class code:
In order to calculate the cost of the policy you only need to multiply each rate with its divided payroll. It benefits employers to re-calculate their premium as their payroll becomes larger than originally anticipated.
Every state has their own rules for how employees must be covered and how they must be classified for rating premium. A lot of states use state specific class codes and have different requirements for who is obligated to carry workers' compensation insurance coverage.
If you have employees that travel out of state for work, or they work in multiple states throughout the year, you may need to purchase insurance for all the states where your workers are located and working. In most cases, you can add multiple states to one policy.
Workers' Compensation Insurance in New Hampshire can be purchased from private insurance companies authorized by the state to provide coverage. The Assigned Risk Pool, or State Insurance Fund, is available for employers who are unable to find coverage from a private company. WorkersCompensationShop.com can help you navigate your best options.
Policy premium is based on numerous factors including: class codes assigned to your business and employees, estimated payroll, covered states, prior policies, owner experience and previous insurance claims.
See New Hampshire workers' comp insurance rules
New Hampshire workers' compensation insurance helps pay claim expenses when an employee, or a covered sub-contractor, is injured while working for your business. It also shields your business from other legal liabilities associated with injured employees. Work comp coverage includes:
Medical Costs
Workers' comp insurance pays for the medical expenses associated with claims or injured workers. The cost of an ER visit, required surgeries and drug prescriptions are some of the covered expenses included under a policy. An employee injured due to a slip and fall would be covered, for example. Covered medical costs can also include longer term expenses such as physical therapy or rehabilitation.
Employee Wages
Most business owners can't afford to continue paying employees if they are unable to work while they are injured. Workers' compensation in New Hampshire will replace most of your employees missing income if they are away from work due to an injury or illness. For example, if a construction employee broke his arm and could not perform the job for 8 weeks, the coverage would make payments to the employee to help replace the lost wages.
Short-Term and Long-Term Disabilities
Sometimes an injury can cause a partial disability or a more permanent disability. Workers' compensation insurance steps in to help pay the cost of ongoing medical bills and may even replace a portion of wages lost due to the disability. If an employee had a finger amputated due to a work-related injury. The employee could be paid a sum for the loss of the finger for permanent disability as well as some temporary disability coverage while recuperating.
Occupational Illness
Some types of work environments can include occupational exposures that have unforeseen circumstances. A chemical mixing operation, for example, may expose employees to chemical irritants and cause harmful reactions that make them sick. A workers' comp policy would cover the cost of treating an illness caused while performing the job.
Funeral Expenses
Nearly 50,000 deaths happen at work each year. Many of these are in the construction and trucking industries. A workers' compensation policy is designed to cover the cost of these funerals and to provide death benefits to the employees family. State guidelines often determine the dollar amount of coverage.
Workers compensation coverage is a No-Fault system designed to prevent costly employee lawsuits related to on-the-job-injuries. Many state provisions include Exclusive Remedy rules that protect covered businesses from these lawsuits in exchange for providing workers' comp coverage for their employees.
Enjoy the benefits of our Pay As You Go Workers' Comp Options in New Hampshire.
$O Deposit or Minimum Down
We've developed Pay As You Go workers compensation programs that reduce or eliminate premium deposits and allow New Hampshire employers to report and pay premium based on actual payroll wages. Protect your business from audits.
Lower Monthly Payments
We've negotiated special deals with many of our insurance partners. We offer more flexible payment options, like 12 equal installments plans and monthly reporting programs, to help improve cash flow for our business owners.
Shop New Hampshire Work Comp
At Workers Compensation Shop.com, we work with more than a dozen of the top carriers actively writing Workers Comp Policies in New Hampshire. This allows us to make it fast and easy for you to find affordable work comp rates.
NH Workers' Comp Specialists
In New Hampshire, as of 2018, rates on Workers' Compensation Insurance are 18 percent cheaper than the national average. These rates have risen 10 percent since 2016. Don't pay too much for your coverage. Now is the time to make sure you are getting the best value on your Workers Comp Policy.
Help with NH Class Codes
Insurance rates vary significantly between NCCI classification codes. Let our NH Workers Compensation Specialists help you determine your correct workers compensation class codes before you buy a policy. We'll help make sure your business is properly covered.
Fast Workers' Comp Quotes
We make the process of getting workers compensation quotes fast and easy. We know your time is valuable. That's why we work harder to streamline the quote process, compare your rates and coverages, and present your best options as quickly as possible. We often have your insurance quotes ready in less than 24 hours.
Compare Rates With More Carriers
We're a National Agency, and we have tons of carriers offering work comp in New Hampshire. We have access to over 35 insurance companies with a diverse appetite and competitive rates. Our markets know we expect the lowest rates, bigger discounts, and more policy credits when we request a quote.
THE RIGHT QUOTE MAKES A DIFFERENCE.
A BETTER WAY TO BUYWORKERS' COMPENSATION INSURANCE
Workers Compensation Info
Employer Resources
Workers Comp Programs
Customer Service
About Us
National Broker Services
