Commercial insurance options
Or, quote another product
New Hampshire Workers' Compensation Insurance
Protect your business and employees with New Hampshire workers' comp
New Hampshire workers' compensation insurance provides financial and medical support to employees who get hurt in workplace accidents. It also ensures that businesses in the Granite State comply with regulations and encourages a safer environment.
Talk to a Progressive Commercial agent to learn more about workers' comp in New Hampshire.
Who needs workers' compensation insurance in New Hampshire?
Under New Hampshire workers' comp laws, businesses with at least one employee are required to carry insurance, regardless of whether they're full or part time. This rule also applies to family members who work for you.
Review New Hampshire workers' compensation requirements for more information.
New Hampshire workers' compensation insurance exemptions
New Hampshire workers' comp exemptions apply to specific businesses or employment situations like:
- Sole proprietors (self-employed persons)
- Limited liability companies (LLCs)
- Corporations with only three corporate officers and no other employees
Even if you're exempt, having coverage safeguards your employees and can help you avoid legal issues. You might also need workers' compensation to meet the conditions for certain professional licenses and contracts.
What are the penalties for not having workers' comp in New Hampshire?
Businesses that fail to comply with New Hampshire workers' compensation laws can face penalties, like costly fines. For expert guidance and support, speak with a Progressive Commercial specialist to help you avoid these risks.
How much does workers' comp cost in New Hampshire?
New Hampshire workers' compensation cost depends on factors like:
- Job classification code: New Hampshire relies on class codes from the National Council on Compensation Insurance (NCCI) to categorize jobs by risk and determine rates.
- Payroll: Workers' comp premiums are calculated per $100 of payroll and increase with payroll size.
- Claims history: Your claims history affects your coverage costs, as more claims can lead to higher rates.
- Insurance carrier: Rates among New Hampshire workers' compensation insurance companies can vary since each uses its own method to evaluate risk and set prices.
How can you get workers' comp in New Hampshire?
You can get New Hampshire workers' compensation insurance three ways:
- Private insurers: Many New Hampshire businesses opt for workers' comp from private insurers due to their flexible coverage options and added benefits they offer.
- Self-insurance: Applying for self-insurance through the New Hampshire Workers' Compensation Division is an option that might lower costs by letting you cover claims with your own funds. Choosing to self-insure means you'll manage financial risks and responsibilities by yourself.
- Assigned risk pool: Securing private coverage or self-insurance can be difficult for companies that are new, risky, or have a lot of claims. These businesses can secure a policy through the NCCI.
Considering these options can help you find the right workers' compensation coverage for your business. Start a quote today.
How does workers' comp work in New Hampshire?
Workers' compensation insurance aids employees with injuries or illnesses related to their work. Once an incident is reported, either the employee or employer can file a claim. If approved, the employee receives financial assistance.
New Hampshire workers' compensation benefits can cover:
- Medical expenses
- Disability benefits
- Lost wages
- Rehabilitation costs
Workers' comp provides vital support to employees and helps them return to work. It also reduces the chance of lawsuits since beneficiaries typically can't take legal action against your business.
New Hampshire workers' compensation death benefits
New Hampshire workers' compensation death benefits support families of deceased employees by covering expenses and offering financial stability during challenging times. These benefits include:
- A lump-sum payment of up to $10,000 for funeral expenses
- Weekly payments determined by the employee's wage
New Hampshire workers' compensation statute of limitations
The New Hampshire statute of limitations gives employees two years from the date of injury to file a claim. Encourage your team to report incidents as soon as possible to ensure they meet deadlines and can receive benefits.
Why choose Progressive Commercial for New Hampshire workers' comp
Progressive Commercial has been a trusted partner for businesses like yours for over 50 years, delivering friendly service, competitive pricing, and dependable advice.
We're here to help you find the right workers' compensation insurance policy. Call us to connect with an agent or go online to start a quote.
