Workers Compensation Insurance

Workers’ Compensation Insurance is one of the most important types of insurance business owners in New Jersey can own. Fraser Brothers can help you make sure you have the right coverage workers’ comp coverage for your valuable employees.

Why Do New Jersey Businesses Need Workers Comp Insurance?

The state of New Jersey requires almost all businesses that have employees to carry workers’ compensation coverage on those employees. This coverage offers protection to employees if they become injured or sick or if they are killed while in the process of doing their jobs on behalf of your business.

Workers’ compensation is vital because it not only helps with the medical expenses and treatment necessary for your employees, but also provides some income for them while they are unable to work as a result of the injuries or illness that occurred in the line of duty to your business or organization.

How Does Workers’ Comp Coverage Benefit Businesses?

Aside from avoiding fees related to failing to provide this coverage to your employees, and the boost to morale employees have knowing that you’ve got their back, if something happens to them while they’re working on your behalf, workers comp protects businesses from lawsuits resulting from injuries or accidents on the job.

That’s a huge deal for business owners today in light of the highly litigious nature of society. The other big benefit is that since employees know their medical needs are covered through workers’ compensation, they’ll be more likely to seek the treatment and rehabilitation they truly need so they can recover fully and faster.

Mitigating the Costs of WCI

Depending on the number of employees you have and the nature of your business, the costs of workers’ compensation insurance coverage can be significant – unless you take action to keep those costs down.

These are some of the steps you can take that will have a significant reduction in your workers’ comp coverage costs.

  • Make Safety a Workplace Priority. Hold classes, host seminars, purchase equipment, teach lessons, and set a positive example – whatever it takes to create a culture of safety in your workplace. It will reduce accidents and incidents that, in turn, will reduce your rates.
  • Change Company Policies. It’s time to reexamine your business policies and create new policies that promote safety at every turn.
  • Compare Plans and Prices. While you don’t necessarily want to change insurance providers at every turn, it’s always wise to explore your options by comparing prices and the type of coverage offered.
  • Bundle Business Insurance Policies. For most insurance providers, the more plans you have by one provider, the merrier for them. The good news is that many providers are perfectly happy to pass along the merriment in the form of savings.

Why Turn to Fraser Brothers for Your Workers Comp Coverage Needs?

Not only does Fraser Brothers have a long history of serving Central New Jersey businesses, but we’ve also developed a relationship as a trustworthy resource for business insurance. We’ve been in business since 1903 and during that time we’ve learned to value our reputation as an ethical and trustworthy advisor about the many varied insurance needs businesses have.

Click below for more information about worker’s compensation insurance and to get your free quote.