Workplace accidents can happen to any business no matter how careful or how many safety measures are implemented. If an employee is injured during their course of employment, and your business meets the state requirements for having to carry workers comp but chose not to, then your business will ultimately be responsible for the medical costs and lost wages due as a result of any injuries or illnesses sustained during the course of employment by your employee.
In addition, the state of Virginia may fine you up to $250 per day that you were without workers comp up to $50,000 for not carrying workers comp when you were required to. However, this fine isn’t only imposed if an employee is injured when you were required to carry workers compensation but chose not to. If the state finds out even prior to any injuries or illnesses that you are required to carry workers comp but have not then they can fine you for the same $250 per day up to $50,000.