Do I Need Workers’ Compensation Insurance?

It’s often the law.

Workers’ compensation insurance is generally required by law in all states except Texas. Requirements regarding the number of employees and their type of jobs can vary by state, so it’s a good idea to check with your local and state agencies.

If workers’ comp is required and you don’t have it, you could be looking at fines, lawsuits, or even criminal charges depending on the state’s guidelines.

It’s often good business.

Workers’ compensation insurance is designed to protect your employees and your business. According to recent information from The National Safety Council — a leading nonprofit safety advocate — the average workers’ comp claim is more than $40,000.

And it’s not just the amount paid to the worker that you should consider. If you don’t have coverage and a worker sues you, you may be responsible for both the claim and the legal costs.

Want to know more about workers’ compensation insurance? Check out:

• What Is Workers’ Compensation Insurance?
• What Does Workers’ Comp Cover?
• How Much Does Workers’ Compensation Insurance Cost?
• Who Pays for Workers’ Compensation Insurance?
• Is Workers’ Compensation Insurance Tax-Deductible?
• Is Workers’ Compensation Insurance a Requirement?