There are many situations in which workmans comp insurance or workers compensation insurance is required in New York State.
The most important question to consider when determined if your business is required to purchase workmans comp insurance is:
Do you have employees?
Workmans comp insurance requirements are primarily based around whether or not you have employees. Watch the following video for more information:
Independent contractors can be a tricky issue. For more information on independent contractors and whether or not they need to be covered on workmans comp insurance read:
There are other situations where you need workmans comp insurance even if you don’t have any employees such Limited Liability Corporations (LLC) which include three or more members.
If you have any doubt as whether or not you should have a workmans comp insurance policy give us a call at (518) 456-6688 and one of our NY business insurance specialists will be happy to help you make that determination based on your unique situation.
You can also click here to contact us via email.
{This video is part of series on New York State Insurance Questions. Every week new videos are added addressing the insurance questions of NY business owners in an easy to digest manner. You can subscribe to these videos here}