New Hampshire workers compensation insurance is a type of insurance that provides benefits to employees who are injured on the job or become ill as a result of their job. Employers in New Hampshire are required to carry workers compensation insurance if they have one or more employees, with some exceptions.
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Requirements for Workers Compensation Insurance in New Hampshire
In New Hampshire, employers are required to carry workers compensation insurance if they have one or more employees, unless they are exempt under the law. Exemptions include certain agricultural and domestic workers, as well as employers who are covered under a federal workers compensation program.
Benefits of Workers Compensation Insurance in New Hampshire
Workers compensation insurance in New Hampshire provides several benefits to employees who are injured on the job or become ill as a result of their job. These benefits include:
- Medical benefits: Workers compensation insurance covers the cost of medical treatment for work-related injuries or illnesses.
- Lost wage benefits: Workers compensation insurance provides partial replacement of lost wages for employees who are unable to work due to a work-related injury or illness.
- Permanent impairment benefits: Workers compensation insurance provides benefits to employees who suffer a permanent impairment as a result of a work-related injury or illness.
- Death benefits: Workers compensation insurance provides benefits to the dependents of employees who are killed on the job.
Cost of Workers Compensation Insurance in New Hampshire
The cost of workers compensation insurance in New Hampshire varies depending on the type of business, the number of employees, and the level of risk. Employers can expect to pay a premium based on their payroll and the classification of their employees.
| Industry | Average Premium Rate |
|---|---|
| Construction | 5.50% |
| Manufacturing | 3.50% |
| Service | 2.50% |
How to Purchase Workers Compensation Insurance in New Hampshire
Employers in New Hampshire can purchase workers compensation insurance from a private insurance carrier or through the New Hampshire Workers Compensation Insurance Plan, which is a state-run program that provides coverage to employers who are unable to obtain coverage from a private carrier.