Workers Comp

What You Need to Know About Workers Comp Insurance
If you own a business, chances are you’ve heard of workers compensation insurance. But what is it—and do you need it?

What Does Workers Compensation Insurance Cover?

Workers comp insurance is designed to provide financial protection for both employers and employees. It covers medical care, disability payments, and death benefits for employees who are injured or become ill while on the job. For employers, workers comp insurance can help protect them from legal action stemming from workplace injuries or illnesses.

Is Workers Comp Insurance Required?

The answer to this question depends on the state in which your business is located. In most states, businesses with employees are required by law to carry workers comp insurance. However, there are some exceptions based on factors such as how many employees you have and how much they make annually. It’s important to check with your state’s laws to make sure that you comply with all necessary regulations.

Who Do I Need Workers Comp Insurance For?

Again, this depends on your state’s laws regarding workers comp insurance coverage. Generally speaking, however, most employers are required to provide coverage for any employee working full-time or part-time hours in exchange for an agreed-upon wage or salary. This includes hourly employees and salaried staff members alike—so if you have any paid staff members at all, you should research your state’s laws regarding workers comp coverage requirements.

In summary, workers compensation insurance is designed to provide financial protection for both employers and employees if an injury or illness occurs while on the job. Whether or not your business needs it will depend on the specific laws in your state—but chances are that if you have paid employees working full-time hours (or part-time hours in some cases), then you will be required by law to carry a valid policy of workers comp insurance in order to be compliant with your state's regulations. If that's the case for your business, then researching policies and finding one that suits your needs is essential!