New Jersey employers with three or more employees must provide workers’ compensation insurance. With over 900,000 small businesses, that’s a considerable percentage of the state’s employers that must comply with its workers’ comp laws.
While most New Jersey-based small business owners must pay for workers’ comp insurance, there are ways to reduce your costs.
Obtaining workers’ compensation insurance in New Jersey is available from many private insurance companies. Business owners can compare coverage options and terms to get the right fit. However, not all insurance carriers offer workers’ compensation coverage.
Large businesses in the state may qualify to self-insure, and smaller businesses can join a licensed self-insurance group association or work with a professional employer organization (PEO).
The NCCI can also help insure businesses that cannot find workers’ comp coverage elsewhere. Kickstand Insurance also offers affordable, comprehensive workers’ comp coverage for businesses throughout New Jersey.
Don’t have worker’s compensation insurance? It’s important to rectify that immediately because it can lead to negative outcomes for your business. Under the state’s Department of Labor and Workforce Development’s Division of Workers’ Compensation guidelines, businesses could face:
Note that the fines are nontraditional and take the form of liens. Property seizures are the primary means of prosecution.
Start by filling out a short online form about your business. We’ll use that info to get you an estimated quote. Then, one of our experienced agents will contact you to review the quote and make sure you are getting the absolutely lowest rate possible for your business. Once the quote is finalized, you’re ready to buy the policy - often with coverage starting that day!
At Kickstand Insurance, we understand how important it is to provide the protection your employees deserve, and the law demands. We also realize how costly that insurance can be. Our goal is to help you find the right insurance for your specific needs and goals and save money at the same time by reducing misclassifications, accurate payroll analysis, and other steps.
If you’re ready to get started, just complete our online form. In as little as 5 minutes, we can begin analyzing your needs. We’ll get back to you with a no-obligation quote and connect you with an expert team member.