Do I Need to Have Workers Compensation Insurance?

Yes, you do. Worker’s Compensation is like Unemployment, it is federally mandated but state administered. Know what your laws are in the states in which you have employees.
Some states require worker’s comp once you have so many employees. For the protection of the business, I recommend getting it even with one employee. You don’t want to end up losing your business because of a work related injury.
If you would like to learn more about this and other HR matters, reach out to a Human Resource Professional.
Again, it is a federally mandated, but state administered. So it varies from state to state and cost can be controlled by how you administer your workers’ comp, how you look at your safety and your organization, whether you have safety programs, whether you have a drug-free workplace.