New Jersey Workers Compensation Quoting Calculator
Here is a calculator for New Jersey, NJ common contractors classifications using 2018 rates. After rating please contact this agency if you have any questions or if you wish to purchase a policy. If you currently have a policy and are looking for a lower premium you MUST PROVIDE A COPY OF YOUR CURRENT POLICY for our review. That’s the easiest way that we can analyze it. Please call 973-377-6100.
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CALL US AT 973-377-6100, or complete our WC Contact Form
Workers compensation is written through two markets.
Standard market is where the broker / agent provides an application directly to an insurance company and they accept and write the policy. We have a really good market and can take most contractors out of the NJ WC Plan and save the customer at least 20%. As stated above, if there is an existing policy and claims history has been good, we probably can write the policy directly. There are many times where a credit (discount) of 5%, 10% or even 15% can be provided. There is no harm in trying.
New Jersey Workers Compensation Plan
What happens when the standard market insurance company will not write a policy. The agent / broker applies through the The New Jersey Workers Compensation Insurance Plan. Since workers compensation in New Jersey is mandatory for all employers, they will assign a company to write a policy. There is a 20% extra charge on the policy. The NJ WC Plan will review the application to see past history and to see if there is any money owed on a WC policy from the past. If there is, then that premium must be paid prior to any insurance company writing a policy. Please inform us if there is past money due.