What workers comp means
Workers comp is insurance that pays medical bills and lost wages for employees hurt on the job, required for employees in most states.
Also called workers compensation insurance.
Where it shows up in your business
Rates depend on your trade class and payroll, and they are a big part of labor burden. General contractors often ask subs for proof of coverage or charge them for it.
Work it out
- Free calculator: Labor rate calculator
- Money: Money guides for contractors