If you have no employees, you’re typically not mandated by state law to buy workers’ compensation insurance. That said, it’s still wise to have the coverage—even if it’s only for yourself. Although avoiding workers’ compensation premiums might save you money in the short term, it can cost you heavily if you end up with a work-related injury or illness—and find yourself out of work because of it. Additionally, sometimes a contract or agreement with another business may require you to purchase workers’ compensation for yourself.
In any case, if your job is prone to risks or accidents, you’d be better off getting workers’ compensation coverage—even if you don’t have employees.
If understanding workers’ compensation insurance seems overwhelming, you’re not alone. E-COMP can help make workers’ compensation easy and awesome. We’ve taken the guesswork out of the process and we’re passionate about providing workers’ compensation insurance for all size businesses across the country.
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