Workers Compensation Insurance
Chances are, if you own a business in New York, New Jersey, or Pennsylvania that has employees, you need workers compensation insurance.
In most cases, this type of insurance coverage is required by law. In any case, it’s a wise investment for business owners that improves employee morale, and protects your business interests in the event of injuries, accidents, and illnesses contracted on the job.
Insurance Center of North Jersey has 80 years of experience protecting the interests of businesses in Maywood, NJ and the nearby tri-state area. We can handle all your workers comp insurance needs.
What is Workers Compensation?
Sometimes referred to as workmans comp insurance, workers compensation coverage is a type of insurance coverage that helps cover medical costs, rehabilitation costs, and lost wages for employees who are injured or become ill performing duties related to their jobs. It also provides Employers Liability coverage to the employer for their liability for work related bodily injury or disease.
While there are many benefits of this type of coverage for employees, there are also many benefits to employers as well. The most notable is the fact that it works to reduce lawsuits in the event that employees are injured on the job and unable to work for an extended period of time.
That’s not the only benefit, though. Most employees appreciate the peace of mind this type of insurance coverage provides. This means better morale among employees.
The other benefit to consider is that employees who know their medical costs are covered are more likely to get the treatment they need so they can return to work sooner.
Reducing Workers Compensation Insurance Costs
Because this type of insurance is mandatory, it’s important that businesses make every effort to keep the costs of coverage as low as possible. There are a few things you can do to help mitigate these costs while still providing outstanding coverage to your employees. These steps will help tremendously.
- Improve safety in the workplace.
- Create policies that promote safety.
- Educate employees about safety tactics and techniques.
- Invest in proper safety equipment for high-risk employees.
- Set an example for employees to follow.
- Compare plans and prices.
- Bundle business policies along with workers compensation insurance.
Businesses today have plenty to worry about financially. Working with an independent insurance agency can help you find the right plans for your business at the right price. They can do this because they work with multiple insurance companies rather than being limited to the workers compensation coverage a single carrier offers. This means they can compare plans and prices so that you are guaranteed to get more bang for your buck when purchasing workers compensation insurance for your business.
The other benefit of working with an independent insurance agency is that you get personalized service when the time comes to resolve claims. You’re not left dealing with a call center across the country or the globe. You get efficient service to help handle claims as they arise and that affords a great deal of peace of mind to business owners.
Why Choose Insurance Center of North Jersey for Your Workers Comp Insurance Needs?
Workers compensation insurance is a tricky process. You need someone who understands the laws regarding workers compensation in New York, New Jersey, and Pennsylvania alike so that you know you’re giving your employees the protection the law requires and that they deserve.
We have served the Maywood community and beyond for the past 80 years and have no intentions of slowing down. We are an independent agency dedicated to helping you make intelligent and informed decisions about your insurance needs.