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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 purposes.
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) for the purpose of rating workers comp premium.
Every state has their own rules for how employees must be covered and how they must be classified for rating purposes. 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 fund coverage, 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 claims.
We've developed Pay As You Go worker compensation programs that reduce or eliminate premium deposits and allow New Hampshire employers to report and pay premium based on actual payroll wages. Reduce your audit risk.
We've negotiated special terms with many of our insurance partners to offer more flexible payment options like 12 equal installments plans and monthly reporting programs to help improve cash flow for our business owners.
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.
New Hampshire WC Rates
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.
Need Help With New Hampshire 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.
Shop Over 35 Insurance 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.
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