Workers Compensation Insurance | Workers Comp InsuranceWorkers Comp Insurance, Workers Compensation Insurance, Workmans Comp Insurance, Workmans Compensation Insurance, NY Workers Comp Insurance, NJ Workers Comp Insurance Workers Comp Insurance - Employers LiabilityWorkers Compensation Insurance or Workers Comp Insurance is also known as Employers Liability. Workers Comp is mandatory in many States. New York & New Jerseyare two of the States that it is mandatory in for any employees that you may have. Workers Compensation Insurance pays a portion of your employee’s salary if he/she is injured on the job while performing duties for the business. Because this is mandatory by the State this is absolutely necessary for any business. If a business does have employees and does not have Workers Comp Insurance and an employee is injured, they will be paid by the State and that cost will be passed along to the business with fines. Workers Comp Insurance, Workers Compensation Insurance, Workmans Comp Insurance, Workmans Compensation Insurance, NY Workers Comp Insurance, NJ Workers Comp Insurance If You Have Employees And Do Not Have Workers Comp, You Will Be Fined By Your State!!!The State of New York fines any business at the rate of $2,000 for every 10 days of not having workers comp coverage for employees. The State of New Jersey has a different schedule of fines for employers that do not have workers comp coverage for employees. If this is your situation, please contact DurAmerica Brokerage immediately to place Workers Comp Insurance for your business. Workers Comp Insurance, Workers Compensation Insurance, Workmans Comp Insurance, Workmans Compensation Insurance, NY Workers Comp Insurance, NJ Workers Comp Insurance Who is required to have Workers Compensation Insurance?Any business doing business in the State that has employees, regardless if those employees are paid as a W-2 or a 1099. This is an important statement because many employers think that they are not required to have workers compensation insurance for employees that they give a 1099 to. If you have W-2 employees then coverage has to be in place or a fine will be assessed. If you have 1099 employees then you are still responsible to pay for workers compensation coverage for them unless they have their own workers compensation insurance. Workers Comp Insurance, Workers Compensation Insurance, Workmans Comp Insurance, Workmans Compensation Insurance, NY Workers Comp Insurance, NJ Workers Comp Insurance How are Workers Comp Rates Determined?Workers compensation rates for your business are based on two factors. The first is your classification, each type of business or operation has a specific rate per $100 in payroll. The higher the risk of the job, the higher the rate. The second is the total amount of payroll that your company has. Insurance companies run a calculation based on these two factors and determine your yearly rate. Typically at the end of your policy year the insurance company will ask for an audit of your books to verify the payroll that they have charged. If your payroll ended lower than what you paid for, you get a refund. If your payroll ended higher than what you paid for, you will charged additionally. We currently write Workers Comp Insurance and Workers Compensation Insurance in New York, NY and New Jersey, NJ. Call us for a free quote today! DurAmerica Brokerage’s Workers Compensation Advantage program is specifically designed to find the proper classification of your policy. Because many brokers make mistakes in the classification of businesses, you could be paying more than you should. Contact one of our Workers Compensation Specialists today to review your policy for free and let’s see if we can save you some money. Workers Comp Insurance, Workers Compensation Insurance, Workmans Comp Insurance, Workmans Compensation Insurance, NY Workers Comp Insurance, NJ Workers Comp Insurance Educating our customer is our mission. If you found this information useful, please refer this page to a friend or colleague. Call us or click here today to review your existing policy or to open a new policy! Workers Comp Insurance, Workers Compensation Insurance, Workmans Comp Insurance, Workmans Compensation Insurance, NY Workers Comp Insurance, NJ Workers Comp Insurance |
