Worker’s compensation insurance is an insurance policy that protects an employer’s liability for injuries and accidents that happen to the employees in the workplace. Employers need to have worker’s compensation coverage to protect themselves from accidents that occur in the workplace.
The type of accidents covered by worker’s compensation insurance includes injuries that happen during the ordinary course of employment. It is essential to have this coverage in place, not only for the security of your business assets but because it is required by New Hampshire law.
Business owners in Manchester, NH must have worker’s compensation for full and part-time employees AS Insurance Agency has the details on what coverage is mandatory below.
Worker’s Compensation Required Coverage
A valid worker’s compensation policy will cover any employee whose injury occurs in the course and scope of their employment and results in medical bills or lost wages. Insurance will cover the total cost of medical bills. It will also cover 60% of the employee’s lost wages.
Workers Who Are Covered
All employees are covered, regardless of who is at fault. This includes documented or not full-time, part-time, temporary, and immigrant workers.
Exemptions From The Worker’s Comp Law
Sole Proprietors or self-employed people are not mandated to have worker’s comp but are allowed to elect to have it. Those who work under a General Contractor may be required to have it per the GC’s will.
Limited Liability Companies (LLC) do not need worker’s comp if there are less than three executive positions with no other employees. This also applies to corporations and Professional Associations.
Give Us A Call
If you own a business in Manchester, NH and need a worker’s comp policy, contact AS Insurance Agency today.