Workers Compensation

Do you need workers compensation insurance if you have no employees?

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Wiki User
2009-07-03 02:07:00

I owned my own semi-truck and trailer and I was required to have

workmen's comp even though I had no employes. Even if no one is

requiring you to carry Comp, there are significant benefits, such

as lifetime medical coverage if you're injured on the job. If

you're self-employed, this may be very valuable because currently

health insurers can exclude parts of you from coverage if you've

been injured before, presuming you can find affordable coverage or

coverage at all if you've been injured. Plus, you probably would

have no deductible under Comp. If you have health insurance that

can't be cancelled except for non-payment, that's great - unless

you can't pay the premiums because you've been injured. In that

case, if you really feel good about your health insurance, then at

least carry an Accident/Serious Illness policy and and AD&D

policy that can pay if you aren't able to work for a while. Many

states are "ladder states," meaning that liability goes up the

ladder until someone can pay, so depending on your line of work and

whether you have clients who come to you at a storefront vs. you

doing work for them on projects, you may be required to either

carry it or have it taken out of your pay. Also, unless you are a

corperation with exempt status, you will always have at least one

employee, you.

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