Workers’ compensation insurance is designed to cover the costs associated with injuries or illnesses suffered on the job. In New Jersey, if your business employs at least one worker, you are required by law to have workers' compensation.
New Jersey has some of the highest workers' compensation rates in the country. Employers in this state pay about 150% more than the national median. The rates for this coverage are classified according to job type and are set by the New Jersey Compensation Rating & Inspection Bureau. While these coverage costs are dictated by the state, insurance providers can make themselves competitive by offering employers discounts and policy credits. Comparison shopping, therefore, can save your company a lot of money.
Trusted Choice Business Insurance provided me all the information I needed for workers' comp insurance. Navigating through the website was straightforward, they have back to back simple questions which anyone can fill it out and It was a smooth process.Chirag of Edgewater, NJ Consumer Affairs
In New Jersey, employers are required to report all workplace injuries and work-related illnesses, regardless of their severity. Workers’ compensation can protect employees from facing large financial losses due to these injuries and can shield employers from expensive liability lawsuits. You can expect your policy to provide the following coverage:
There are currently 485 independent insurance agents in New Jersey who can help you find the best workers’ compensation insurance policy to cover your company. Your agent can save you time and money by working with several different insurance providers to help you find a policy that is well-suited to your particular business. Talk to an agent near you to start comparing customized workers’ compensation insurance quotes.