Workers' Compensation

Do Sole Proprietors Need Workers’ Compensation Insurance?

Workers’ compensation insurance laws vary slightly in each state, but you’re probably not required to have it if you’re a sole proprietor with no employees. Nonetheless, you may need the policy once you hire independent contractors or even part-time workers to work for you. Examples of Self-Employed Contractors Who Might Need Workers’ Comp: Plumbers: You

Workers' Compensation Insurance

Workers’ Compensation Insurance 101: All That You Need to Know

About 17.3% of small businesses in the U.S. have at least one employee. The workers’ compensation system requires businesses with employees to carry workers’ compensation insurance.  Therefore, about 1 in every 5 businesses in the U.S. has a legal mandate to carry workers’ comp insurance. This coverage is crucial because it protects employers from lawsuits