If you own a small business do you have to have workmans comp insurance on each employee that works for you?

Answer 1

In Michigan you do.

You also have to pay it on yourself, though it is doubtful the insurance would pay if an owner gets hurt.

Additionally, you have to pay the rate for unlicensed sub-contractors too.

Answer 2

As other answerers have noted, it depends on where you live. I’ve linked below to state insurance departments. Visit the appropriate Web site, and you should find the information you need. I’ve also linked to a site with articles that describe worker’s compensation, how to lower premiums and minimize claims, and how to purchase these policies.

Briefly, states do differ in how they handle worker compensation requirements. Many do not require small businesses with fewer than 6 employees to have worker compensation coverage, and most do not require sole proprietorships or partnerships. And some professions, such as farm workers, are exempt from worker compensation requirements. Additionally, some states only require employees who are in “hazardous” jobs to be covered under some type of worker’s compensation package.

If you’d like to compare rates and talk with local insurance agents without any obligation, fill out a short information request form at MostChoice.com ( http://www.mostchoice.com/workers-compensation-insurance.cfm )

Hope this helps,
Barnes@MostChoice

Answer 3

It's a comprehensive policy that covers the entire business. It's called liability insurance. It just automatically covers anybody you hire. It doesn't specifically cover individuals. It covers whomever you hire. At least that's how it works in my state.

Answer 4

Workman;s comp is depending as a %% of payroll, reckoning on the job. For place of work clerks it will be as low as a million% of payroll, for miners it will be as intense as 25% of payroll. you may want to ought to work out an coverage agent and describe precisely what your workers will ber doing.

Answer 5

depending in which state you live in it may be a requirement that you cover your employees with liability Insurance. Even if your state does not require it, it would be a wise decision that you do get this.