What exactly is Workman's Compensation Insurance? Does a "One-Truck-Johnny" really need it? I have Liability (would be caught without it), I have a great health insurance program, and with other sources of income, I am not worried if I am unable to work for a few days. So other than someone I'm doing work for requiring that I have Workman's Comp, is there another reason? What exactly does it cover? I mean, if I have someone come to my house and do work on the roof or something, should I require them to have it also?
This apartment complex that I want to work on requires workman's comp, but strangely is not inquiring about liability insurance. They do have a provision in their vendor application where they will withhold a certain percentage of the "billed" labor cost if you don't have workman's comp. I may just find out what that amount is and raise my rates accordingly.