Workers compensation doesn’t just protect your employees when they are injured; your policy also protects your Manchester, NH business from lawsuits when one of your employees is injured. Having this protection in place helps you and your employees avoid unnecessary expenses that may be difficult to cover during an emergency. At AS Insurance Agency, we can help you compare different policies that may work for your business.
Which Businesses Are Required To Carry Workers Compensation Insurance?
Any business that has any employees must carry workers compensation insurance by law in New Hampshire. This applies if your business is a nonprofit, if the workers are part-time or unpaid, and if the employees are related to you. Even contractors may need to carry workers compensation insurance.
Failure to carry this kind of insurance could result in fines for your business even if no one ever uses the policy. Workers compensation is completely separate from personal health insurance.
Are There Exceptions?
There are only a few exceptions where you may not need workers compensation insurance. If you are a sole proprietor, you are the only one working for the business. The same applies to a partnership, where two individuals have equal ownership of the business.
If you are a sole proprietor, in a partnership, or self-employed, you do not need to carry a policy, but you can still choose to protect yourself.
Make sure your Manchester, NH has the protection it needs. Workers compensation is just one of the ways you can make sure your small business doesn’t suffer when facing an unfortunate incident. Call AS Insurance Agency today if you have any questions about commercial insurance or if you would like to discuss your current policy.
