Generally, if you are self-employed, you are exempt from the requirement to have workers' compensation insurance to cover yourself.
However, the minute you add an employee, get that in place--pronto!
Some states do allow you to "opt in" as a self-employed business person, but the rules about whether you can opt in vary from state to state.
A good business insurance broker should also be able to answer a lot of your questions about which insurances you need, what insurance limits you'd be wise to have, and what makes most sense for your particular industry in your state.
Nina L. Kaufman is an award-winning business attorney, author and speaker. For more than 15 years, she has successfully navigated thousands of small businesses through the legal hurdles they face in starting and running their companies. Under her
AskTheBusinessLawyer.com brand, she reaches thousands of entrepreneurs and small business owners with her legal services, professional speaking, information products, and
LexAppeal weekly ezine.
