Workers Compensation in Fairfield and Clifton, NJ
You strive to run your business as safely as possible, but accidents can—and will—happen. Workers’ compensation insurance, also known as workers’ comp, helps your employees recover from work-related injuries or illnesses so they can get back to work faster. These benefits can help cover medical care and replace lost wages for your employees.
Workers’ compensation, considered an exclusive remedy, can protect your business from lawsuits stemming from workplace injuries or illnesses. That means employees cannot file civil lawsuits against their employers if they are injured or become ill on the job.
As such, workers’ compensation offers advantages to both you and your employees. It provides peace of mind knowing your business is prepared for workplace accidents or occupational illnesses.
To learn more about workers’ compensation insurance, call Allwood Forlenza Insurance Agency at 973-256-5500 or request an online quote. We have been insuring New Jersey businesses for more than 80 years.
How Much Workers’ Compensation Insurance Do You Need?
Every business that has employees in New Jersey is required to carry workers’ compensation insurance. Even if your business is based out of state, you may need compensation coverage if the work is performed in New Jersey or an employment contract is entered into in New Jersey.
If you’re self-employed and not required by law to have workers’ compensation insurance, you should still consider purchasing coverage. Your personal health insurance may not cover work-related injuries, leaving you financially responsible for medical bills. Additionally, you would miss out on wage replacement benefits to keep your business running while recovering from your injury or illness.
How Much Does Workers’ Compensation Insurance Cost?
Every business is unique. Insurance workers’ compensation policies vary since they are based on your business and the type of work performed. Additionally, the following factors can impact the price of your workers’ compensation policy:
Our insurance agents can review your business’ claims history and how selected coverage limits can impact the price of your workers’ compensation policy.
Protect Your Employees
If your business doesn’t offer workers’ compensation, serious injuries on the job could lead to an employee suing your company. That’s why it is essential to discuss your insurance options with an Allwood Forlenza Insurance Agency agent who can help you find the best coverage from trusted carriers.
To learn more about how workers’ compensation can protect your employees and business, call Allwood Forlenza Insurance Agency today at 973-256-5500 or request an online business insurance quote.