I agree that WC is a sob to collect (they are sneaky baturds) but you missed the point... WC requirement is NOT about you but the hiring party.
Down in the south WC is nearly impossible to collect or much less pay off a claim.
Ive had quite a few of my guys get hurt on the job, one of my guys that had insurance through his wife company ran a chain saw across his foot. Cut through his boot and deep into his foot, needless to say i paid the bill 16k worth of doc bills.
Its has always been cheaper to pay the bill than make the guys get the coverage, plus its tax deductible.
Over the years Ive sent close 45k of doc bills, one of my guys cut half his finger off.
Both guys are still with me and would walk threw fire for me because Ive helped them.
To force a contractor to get WC with the pay scales of today is pointless, but that just my option.
If you are just working for yourself its great, but company wise its impossible to collect and you still have to pay out.
Its more important to me to make friends and be able to count on them when i need them because they can count on me when they need me. Hell i would go broke for anyone of my team. Their is inherit risk in very business, Your more likely to get sued while one of your crew is going to a job and runs into a car while working for you. And work orders are flying through the air.
As a company you have to decide whats important for you and those that come along with you on this wild ride we call P&P.
You will never know how important a network of contractor and friends is until you need them.