Did you know, the state of New Jersey reported over 75,800 non-fatal workplace injuries and illnesses in 2020 alone? Regardless of whether your company contributed to this workplace accident report or not, employee security should not be non-negotiable.
As a business owner, it might be your ethical and legal duty to help provide reasonable protective measures to ensure the safety of your employees. One way to do this is by providing comprehensive Workers’ Compensation.
Workers’ Compensation can help protect your business and employees from financial loss after a workplace-related accident. If you’re looking to get Workers’ Compensation coverage for your company in New Jersey, contact PolicySweet® today to get a quote!
Understanding New Jersey’s Workers’ Compensation Laws
New Jersey’s Workers’ Compensation laws state that most employers not covered by Federal programs should consider purchasing Workers’ Compensation for their employees.
It may not matter if you only have one regular full-time employee; you may still be required by law to provide Workers’ Compensation coverage. However, exemptions also exist in some cases.
Workers’ Compensation offers plenty of benefits to businesses and employees. As an employer, you could receive the following:
- Security against financial losses due to a workplace injury.
- Legal compliance.
- “Peace of mind” knowing your employees could be taken care of in the event of a work-related injury.
Your Responsibility if An Employee Is Injured
Suppose an employee informs you of a workplace-related accident. In that case, you should notify your insurance provider as soon as possible, and your insurance carrier will submit a First Report of Injury to the state’s Division of Workers’ Compensation.
The insurance carrier will likely evaluate the claim and determine if the employee’s injury is compensable under New Jersey’s Workers’ Compensation laws. Then, they can transfer the employee to an authorized medical provider if the claim is approved.
Once the employee recovers and returns to work, the insurance provider should submit a Subsequent Report of Injury to the state. In essence, your role as an employer is to communicate the incident to the insurance provider while they manage the claim.
Protections for Injured Workers
Workers’ Compensation in New Jersey can provide the following benefits:
Medical Benefits
This benefit could cover medical expenses resulting from workplace accidents, such as outpatient care and medication. This benefit could also cover the patient’s emergency service costs in the event of a medical emergency.
Lost Wages
If an employee suffers a physical injury that prevents them from performing their job duties, the insurance provider could help cover their lost wages.
Ongoing Care
If an employee’s injury leaves them with ongoing medical costs, they could also receive compensation for that. This can include reimbursement for physical therapy as well as prescription medications.
Consequences of Failing To Insure Your Employees
Failure to provide adequate Workers’ Compensation insurance in New Jersey can entail severe legal penalties.
The employer might be required to pay $5,000 for the first 10 days they lack insurance, and they could pay another $5,000 for every additional 10 days past that. The employer could also face a fourth-degree criminal offense for being uninsured.
In a corporate setting, the crime of being uninsured can extend to corporate officers. Members of an LLC could also be held liable for an employee’s workplace injuries.
Where Can You Get a New Jersey Workers’ Compensation Insurance Policy?
There are several ways you can get Workers’ Compensation insurance in New Jersey, but one of the most convenient ways is to get a policy from an insurance provider like PolicySweet.
At PolicySweet, we help small business owners get a comprehensive Workers’ Compensation policy that could fit their needs and budget. Our swift and easy process can allow you to help ensure your employee’s safety and can protect your business against financial harm.
To get started, complete our online questionnaire and tell us about the nature of your business. Once the form is complete, you can receive a free quote instantly. Review the contents of the quote and reach out to us if you have questions or need assistance.
If you are satisfied with your Workers’ Compensation policy, you can accept the terms and you could be insured right away.
With PolicySweet, you can have “peace of mind” that your employees could be covered for workplace injuries and accidents. Get your Workers’ Compensation insurance in New Jersey from PolicySweet today!
Get Comprehensive Workers’ Compensation Coverage From PolicySweet
Employee security is a critical matter that should not be overlooked. With the possibility of workplace-related incidents, establishing a Workers’ Compensation policy for your business can help promote comfort and confidence among your employees.
At PolicySweet, we help business owners protect their employees, their pocketbooks, and themselves by providing comprehensive Workers’ Compensation insurance in New Jersey. Our easy sign-up process could provide you with insurance in no time!
Don’t wait until it’s too late; contact us today or complete our online quote form. Help ensure your employees and your business could be protected with our swift and SWEET insurance coverage!
Please Note: State-specific information is subject to change at any time. Always consult with your state’s official information and resources for the most accurate information.