Applying for NJ Worker’s Comp with the State plan

Standard Insurance companies have guidelines they follow regarding the type of risks they want to write. Most standard companies will not write a new business with no prior or limited business experience. Some companies will not write a risk that has less than 3 employees. If a risk falls outside what company wants, they can still get insurance through the New Jersey Compensation and Rating Bureau. The process is fairly easy but does take some time. Workers Compensation is required for all corporations in the state of New Jersey. If you are an LLC, you are not required to have NJ Worker’s Comp UNLESS you have employees. LLC members or officers are allowed to exclude themselves for coverage.

Agents gather information that is required for the application such as the business name, address, payroll company, description of operations, prior insurance etc. This information is entered online on the Bureau’s website. After a final review is completed, a voided check along with a signed application is faxed to the Bureau. From there, the Bureau acknowledges they received the fax. They review the application and if everything is satisfactory they find a company to write the insurance. In two weeks, they assign a company and notify the insured via mail. Some companies may send the insured a welcome packet. In a three to four weeks, the insured receives their policy.

Looking for a Worker’s Comp quote, call us today!