Best Workers' Compensation Insurance in New Hampshire (2024)

To identify New Hampshire’s best workers' compensation insurance provider, MoneyGeek analyzed insurers and their rates, customer service record, online quote process and financial standing. biBERK emerged on top for its excellent performance in all categories.

New Hampshire enterprises obtain workers' compensation insurance to protect their businesses from potential financial and legal liabilities. If a worker is injured or becomes ill, this coverage will pay for medical expenses, missed salaries and possible legal actions.

According to MoneyGeek’s analysis, biBERK provides New Hampshire’s best workers’ compensation insurance. Outstanding ratings for financial stability and customer service helped biBERK outperform our runner-up provider, Pie.

Workers' compensation insurance from biBERK comes at an average monthly rate of $136, but your rates may vary depending on factors unique to your company.

Pie provides New Hampshire’s cheapest workers' compensation insurance policies, offering average monthly premiums of $100. Payroll and staff count have a significant impact on insurance costs. We used a sample business profile with 20 employees and $1,250,000 in annual payroll costs for this category.

View the table below for how MoneyGeek ranked insurance providers based on their average monthly premiums. Our data includes annual and monthly costs for insuring a New Hampshire business with 20 employees.

The cheapest provider for you may vary depending on factors unique to your business.

biBERK is New Hampshire’s best workers' compensation insurance company for businesses with five employees. It charges an average monthly premium of $48.

A company’s total number of employees influences workers’ compensation insurance costs, although payroll expense is typically the most significant factor. By gathering quotes for a sample business with five employees and annual payroll costs of $312,500, we determined the best workers' compensation provider for micro businesses in New Hampshire. Micro businesses are enterprises with fewer than 10 employees.

Offering average monthly rates at $610 for businesses with 100 employees, biBERK offers the best workers' compensation insurance for midsize New Hampshire companies.

Along with staff count, payroll expenses are important in determining workers' compensation costs. MoneyGeek gathered rates for a sample company with 100 employees and $6,250,000 in annual payroll expenses to identify the best workers' compensation for midsize companies in New Hampshire.

New Hampshire businesses with a staff of 20 pay an average monthly rate of $143 for workers’ compensation insurance. This rate is less than the national average of $168 monthly. Our sample policy includes the following limits:

• $1 million total policy limit
• $1 million per employee limit
• $1 million per accident limit

The policy pays up to $1 million per incident and $1 million per affected worker. The policy covers these expenses up to the $1 million policy limit. Costs outside these limits must be paid out-of-pocket by the employer.

Some critical factors influencing insurance prices are the size of a company’s employee base and annual payroll expenses. The average cost of workers' compensation insurance in New Hampshire varies according to the company’s number of employees, as shown in the table below.

The cost of workers' compensation insurance can significantly vary across businesses. The most critical variables include the number of employees, payroll costs, previous claims, employee class codes and state regulations.

New Hampshire requires employers with any number of employees to obtain workers' compensation coverage, whether they are full- or part-time. Workers who sustain illness or injury at work should receive benefits through workers' compensation insurance.

The New Hampshire mandate for workers' compensation does have exemptions. Some domestic and agricultural workers, independent contractors and real estate dealers may be excluded from this requirement.

Workers who sustain harm or become ill during the course of their employment are entitled to many benefits under workers' compensation insurance. The employer is the policyholder, protecting the owners from liability when an employee injury occurs. The typical benefits provided by workers' compensation insurance are listed as follows:

• Medical costs: Covers reasonable and necessary medical costs for treating illnesses or injuries sustained at work.
• Disability benefits: During the term of the employee's disability, these benefits typically replace some of the lost wages.
• Vocational rehabilitation: Workers' compensation may include vocational rehabilitation services to aid injured or ill employees in regaining their capacity to work.

Remember that depending on the insurance policy, coverage limits and types of expenses covered will vary.

The New Hampshire Department of Labor (NHDOL) is the agency in charge of regulating workers' compensation in New Hampshire. Workers’ compensation insurance-related issues are handled by the NHDOL's Workers' Compensation Division, including regulation, implementation and dispute settlement.

To file a claim and obtain benefits, New Hampshire workers must complete the following procedures:

5. Report the illness or damage
6. Obtain medical services
7. Inform your employer
8. Make a claim
9. Participate in the claims procedure
10. Evaluate and appeal if necessary

Note that different processes and laws may be applicable when filing a workers' compensation claim in New Hampshire, depending on the incident and the nature of the injury or illness.

Selecting the best workers' compensation insurance provider in New Hampshire is complicated. We answered the following frequently asked questions to help.