Is Workers’ Compensation Insurance a Requirement?
Is Workers’ Compensation Insurance a Requirement?
As a legal requirement, workers’ compensation is mandated by law in 49 states; Texas is the exception.
Keep in mind that states often vary in terms of which types of employees are covered, when an employer needs to obtain coverage, and other requirements. You can get an overview of state workers’ compensation laws here, but it’s important to check with your specific state and county.
Beyond meeting legal requirements, there are other benefits to having workers’ compensation insurance. Having coverage can:
- Protect your business’s finances if a claim is filed
- Prevent your business from potentially being wiped out by a catastrophic claim
- Pay for legal fees if you need to defend yourself against a lawsuit
- Build trust with your employees
- Give employees a sense of security that they’ll be taken care of if the worst should happen
- And more
Want to know more about workers’ compensation insurance? Check out:
- What Is Workers’ Compensation Insurance?
- What Does Workers’ Comp Cover?
- Do I Need Workers’ Compensation Insurance?
- How Much Does Workers’ Compensation Insurance Cost?
- Who Pays for Workers’ Compensation Insurance?
- Is Workers’ Compensation Insurance Tax-Deductible?
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Whether you’re shopping for a brand-new policy or comparing policy prices, we can help you find affordable protection that’s personalized to your needs.