I believe that it depends on the state you live in and how many employees you will have. In Michigan if you have more than 4 additional employees you have to have it.AnswerAll 50 states require Workers Comp though most if not all have exemptions. In Texas, you can select a Non-Subscription product that's similar to Comp. Most if not all states allow you to self-insure if you have enough cash to set aside. Even if you exercise an exemption, you remain liable, so make sure you have plenty of cash for work-related injury claims if you don't carry coverage. Also, even if you don't think your employee would sue, their spouse or minor children who have to get through life on your employee's reduced salary if he has a major injury, or without his salary and companionship if he dies, may present an issue. In short, yes, please carry Comp.
i am a small business owner have my own LLC and dont have any employees - i do small landscaping jobs - - a client is now telling me that he will not pay my invoice until i provide him my workmans comp insurance number - can he do that - why does my having or not having insurance have to do with my invoice
AnswerFederal law developed the work comp system and every state has a unique form of it. If you have a single employee, then you need work comp insurance. No matter the state. If the employee becomes injured, if you don't have work comp insurance they can sue your company and you personally for not carrying the work comp insurance.You can be a sole P, INC, LLC, or partnership and get work comp insurance. You can even get work comp insurance for yourself as an owner.Check with a local insurance broker to make sure you are following your states law.
Even though you're out of work due to a worker's comp case, your premiums for your medical insurance still need to be paid. Just keep in mind that your medical insurance pays for medical illness and isn't related to worker's comp. Your employer may be willing to help you pay the premiums until you get back to work.
You need workers' compensation insurance if you have employees. You do not need worker's comp insurance if you are a sole owner. In most states, owners of a business are exempt from having workers' comp for themselves. The type of business does not matter. If you have employees, you need comp insurance. ...plus, the venue, whether a city owned street, school or music venue SHOULD require that you carry the coverage on yourself to ensure you don't allege to be its employee if you suffer an injury.
yes, for your employees hurt on the job Unless the state you live in pays it * WCI is a state and employer funded program. States establish the laws which regulate which businesses are required to participate in workmen's compensation insurance programs. The requirements differ from state-to-state, some of the factors for mandatory employer participation are, the number of employees, the type of business and how the business is ranked under OSHA guidelines. Worker's Compensation Resources http://www.workerscompresources.com
you need to tell the wci what you have. if they want to sue the business owner for the claim, that would be up to them. plus his wci could be cancelled just like a insurance policy for an automobile can be cacelled at any time due to certain reasons. if workmens comp pays you a certain amount and if still want to sue the owner, you can. a lawyer that specializes in workmans comp can help you.
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