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Workers’ Compensation Insurance New York

Workers compensation insurance New York City

Workers compensation insurance New York

If you own a business and have employees, you MUST have Workers’ Compensation coverage for them (including part-timers). Even family members employed by your company need to be covered. Insurance can be obtained privately or with the State Insurance fund. Let’s face it- your employees are the foundation of your business, and keeping them safe on the job is essential. Just one injury can cause an employee to be out of work for months, causing you financial hardship. Having the proper Workers’ Compensation coverage can help you immeasurably.

Workers’ Compensation is a state-mandated, no-fault insurance program, which allots employee benefits such as lost wages, medical treatment and recovery services, for job-related maladies regardless of fault to the cause. Carrying this valuable coverage ensures that, in most cases, employees cannot sue you for these incidents.
Premiums vary and are dependent on the type of business and total payroll. It’s important to classify employees accurately, based on what they spend the majority of their time doing, because this could change your premium dramatically.

Workers compensation insurance New York

Starting A New Business?

That’s great! With so much on your mind and on your plate, insurance isn’t something you want to be stressing over. Let us show you how quick the process can be, using the three items below as prep work:


1. Employees and Salary: Knowing how many employees you will have, their roles in your business and their wages can help you maintain the correct premium.


2. Don’t cut corners: Insuring your business for less than its actual payroll can be a costly mistake. Annual Workers’ Compensation audits could result in an unexpected end of the year cost, which can have a major impact on your cash flow, or worse – you could suffer a claim and not have sufficient coverage.


3. Maintain a safe work environment: Display the required Workers’ Compensation posters and establish safety programs and first-aid procedures, which will reduce the possibility of claims and can make you eligible for lower premiums. The most significant way to control costs is to prevent accidents from happening and to promote safety in your workplace.


Ready for a quote? This is one insurance policy that is absolutely necessary for a business.  Call or click for a free, no-obligation quote and we will help you get the right policy wIth the correct coverage for, the best premium.