Category: Workers Compensation

Worker’s compensation insurance, commonly called worker’s comp, is an important type of insurance for every business with employees. Even if you have only one employee, having this type of insurance is best. This kind of insurance policy can save a business from enormous costs. Call us at AS Insurance Agency in Manchester, NH to learn more about worker’s comp insurance.

Coverage for Your Company’s Liability

Worker’s comp policies are liability coverage that pays for the many costs that are due after an employee gets sick or injured at work. Whether it’s an accident of some kind or the employee developed a work-related sickness, the costs can be high. Paying these costs on your business’s behalf protects your business from having to pay expensive bills. These can include lost wages on the part of the employee, legal expenses related to the accident or illness, medical bills, and ongoing therapy for the problem. All of these can cost enough to bankrupt a small business without insurance to pay them. 

How Employees Benefit

A worker’s comp policy benefits not just your business but also your employees. When you have this insurance in place, an employee doesn’t have to worry about what will happen if injured on the job because they know it will be taken care of. They won’t have to worry about the business going out of business because of the costs and being left holding the medical bills. 

Get Worker’s Comp Insurance

When you want to protect your business and your employees against the high costs of accidents and illnesses, you need a worker’s comp policy. Call us at AS Insurance Agency in Manchester, NH, to learn more and get started. 

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.

Embarking on your career is an exciting adventure, but you’ll have a lot of responsibility on your plate. Those responsibilities won’t end when you check out of work either. You’ll likely have bills to pay, such as rent, health insurance premiums, and more. New grads should check to see if their employer offers workers comp insurance, and they should also check for plans from insurance providers. Contact AS Insurance Agency, serving Manchester, NH and beyond, to learn more about workers comp policies.

Workers comp policies will often provide payments to make up for lost income if you are out of work. Of course, you should read every policy closely to see what is and is not covered.

The Benefits of Workers Comp for New Graduates

Unfortunately, many things could derail your career. This is as true for fresh graduates as it is for experienced hands. You might suffer a slip and fall at work that leaves you recovering in bed for weeks on end. You may need to undergo surgeries, which in turn typically have recovery times that keep you from work. Sadly, some people will contract serious diseases, like cancer, that will require ongoing treatment and that may keep them from working.

In these cases, workers’ comp may help families and individuals make up for lost income. It’s important to read every workers’ comp plan to see what is and is not covered. However, you can find plans that will provide coverage for income lost due to workplace injuries and serious natural diseases like cancer.

The workers’ compensation policies offered by employers typically focus on injuries and conditions contracted at work. Workers comp policies offered by third parties, meanwhile, can often be used to mitigate injuries and diseases contracted outside of work.

Which policies are right for you?

Contact AS Insurance Agency, serving the greater Manchester, NH region, to explore your options.

 

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.

If you are a business owner who leads a team of employees, it’s your mandate to guarantee their safety and security while in their working environments. While devising safety precautions in the workplace is pivotal in abating work-related injuries, the other way of assuring employee safety is by obtaining workers’ comp insurance coverage. But wait, what’s workers’ comp insurance, and why would you need it? Well, let’s find out.  

Workers’ comp insurance refers to insurance coverage meant to promote your employees’ safety and well-being at their places of work. It’s intended to save you from facing a lawsuit or incurring financial losses if anything happens to your employees at their workspaces. 

AS Insurance Agency in Manchester, NH recommends you to obtain workers’ comp insurance if you want to enjoy benefits such as:

Liability costs coverage

While executing their duties, workers can encounter accidents and sustain injuries. Since such an occurrence involves your business, it would be your responsibility to meet their treatment costs. 

Depending on the injuries sustained, the treatment costs can be high, but you won’t carry the burden when you have workers’ comp insurance. 

Protects your employees

If your employees suffer from work-related illness or injuries and require treatment, your workers’ comp insurance covers their medical costs. Besides, this coverage pays for your employees’ partial loss of income and funeral expenses.  

Upholding business reputation

With a worker’s comp insurance policy, people will view your business as a safe and secure environment to work in. Consequently, it will be easier to convince competent employees to join your business.

Protecting business finances

Once your business complies with employees’ comp insurance coverage, it will avoid incurring employees’ medical costs and non-compliance fines when mischance occurs. 

Buy workers’ comp insurance today!

Employee’s comp insurance policy benefits your workers and your business as well. Reach out to AS Insurance Agency in Manchester, NH, and get your employees well-being upheld.