If you’re a Virginia business owner with more than two employees — either full-time, part-time, subcontractor, seasonal, temporary, minor, trainee, immigrant or working family member — Virginia state law requires you to carry workers’ compensation insurance.
If you hire subcontractor employees, the requirement still applies to your business even if the subcontractor carries their own workers’ compensation coverage.
Virginia requires state coverage for work performed in the state, including temporary work, and it does not have reciprocity with any other states.
Virginia business owners have other rules around workers comp they must follow as well, including:
Your employees are entitled to workers’ compensation benefits, including lost wages, medical benefits, disability and death benefits for workplace-related injuries and illnesses as long as they did not cause an accident intentionally.
Business owners can also benefit from the liability protection of workers’ comp if they experience an injury while on the job with the addition of an owners policy.
Unlike healthcare insurance, business owners cannot share the cost of workers’ compensation insurance in Virginia with employees or deduct the cost from their wages. As a business owner, you are fully responsible for the workers’ comp insurance premium.
Virginia workers’ compensation insurance helps business owners pay for expenses related to job-related injuries and illness, including:
Workers’ compensation insurance coverage protects your workers who suffer injuries on the job and protects your business from the financial impact of potential claims.
If one of your employees is injured on the job, you have 10 days to report it to your insurance carrier and the Virginia Workers’ Compensation Commission.
An injured worker can obtain benefits for acute injuries, like a broken leg or wrist, and for injuries that might worsen over time, such as a spinal injury due to repetitive movement on the job.
Several types of workers’ compensation benefits exist in Virginia:
If an employee dies because of a job-related injury or illness, Virginia workers’ compensation covers:
Workers’ compensation costs vary across industries. Factors that influence price include:
Get a free instant quote in about 10 minutes from NEXT to see your workers’ comp insurance costs.
Virginia does not provide a waiver or exemption for a sole proprietor or any other business.
Be aware that in Virginia, you as a business owner or corporate officer count as an employee, as do any family members employed in your business. Seasonal, part-time workers and minors count as employees, too, under Virginia workers’ compensation insurance laws.
An executive officer may reject coverage with proper notice to the employer and the Virginia Workers’ Compensation Commission.
NEXT strives to resolve every claim quickly. Learn more about our claims process and how our claims advocates will work with you after an employee injury.
General liability insurance protects your business from common mistakes or accidents, such as customer injury or damages to someone’s property.
If you or your employees drive vehicles for work, you probably need commercial auto insurance. This provides coverage for accident-related expenses in a business-owned vehicle or a personal vehicle being used for work purposes.
Commercial property insurance can provide financial help if your business structures, goods, gear or inventory are damaged or destroyed by a covered event.
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