In many cases, self-employment offers workers a lot of freedoms that employees don’t have. Some people who are self-employed have the privilege of working from home, setting their own schedule, and not having to report to a supervisor.
However, self-employment isn’t as simple as being your own boss. Self-employed workers have many of the same responsibilities that traditional employees have, as well as additional ones. They may have different tax liabilities, more work expenses, and fewer legal protections.
Worker’s compensation for the self-employed
Because of this, many self-employed individuals wonder about worker’s compensation, which covers employees after workplace injuries.
If you’re self-employed and you want the accident coverage that traditional employees have, you’ll be glad to know that worker’s compensation is still an option. You aren’t required to carry a policy if you don’t have employees, but you may choose to take out a policy for yourself. There are many reasons why worker’s compensation can benefit you, even if you’re self-employed.
For contract workers, worker’s compensation is often necessary to take on a job. Many people will not hire workers who are not covered by worker’s compensation, because of the extra liability it poses for the business. If a self-employed worker declines coverage simply because they can, they may lose valuable work opportunities.
Self-employed workers don’t all work from home. Many perform jobs for other businesses, such as repairs and maintenance. These jobs often expose the worker to hazards that could cause serious injury, and without the protection of worker’s compensation, a lawsuit is the only option. Unlike employees, contract workers can more often sue for job-related injuries, but many workers would prefer to file an insurance claim instead.
As a self-employed individual, you may have purchased a private health insurance policy. However, your policy may not cover injuries and illnesses related to your job, as these things are more often covered by worker’s compensation. If you only have health insurance, you may find yourself with significant medical expenses if something happens to you on the job.
Is it worth it?
Only you can decide if worker’s compensation is right for you. Traditional employees have many legal protections that the self-employed do not, and knowledge of the law can help you make important decisions related to your work. For legal advice and assistance, contact our offices by phone, email, or text message, and we’ll help you with anything on your mind. Schedule a free consultation today!