Are You Legally Required to Buy Workers Compensation Insurance?

If you own a business, you may find yourself wondering if you are legally required to purchase workers compensation insurance. This is a question that we at Fuhriman Insurance Agency, serving the greater Boise, ID area, are often asked. Here is what you need to know about whether you are legally required to buy workers compensation insurance. 

You Have No Employees

If you are self-employed and you do not have any employees, you are not legally required to buy workers compensation insurance. This includes those who only have a spouse that works for them or those who utilize the services of sub-contractors. As long as you do not have anyone that is legally deemed to be an employee, you are not required to obtain and carry this type of insurance. 

You Have Employees

If you employee anyone, even if it is only other person, you are legally required to carry workers compensation insurance by law. This insurance covers the cost of medical bills, lost wages, and permanents injuries if your employee is injured on the job. If you do not carry this type of insurance, you could face heavy fines by the state your business is located in, or your business can even be shut down until you obtain the correct insurance. 

Having the right worker’s compensation insurance is vital to the operation of your business. If you are looking to purchase workers compensation insurance in the greater Boise, ID area, turn to Fuhriman Insurance Agency. We can help you find the right coverage for your business needs. Call us today to schedule an appointment to sit down and discuss your worker’s comp insurance needs.