I know somebody who recently got a false claim that his worker got injured while working on the site, good thing before releasing the check, they practice a toolbox meeting every monday and let all employees sign a waiver where it states that they have been paid in full for the last week and did not get injured before the check was given. This could be a $300,000 suit waiting to happen, specially because they wont spend a dime suing you.
We pay around 20k (up to 50k/year payroll) to have work comp every year, together with GL and in my case, more than that because our company has extensive insurance coverage that gets layers and layers of protection for both clients and contractor. We also insure that our subs have them and issue us waiver as additional insured before they can even be considered as sub. Paperwork IS money, it costs, it protects. If you hire a handyman you need to have work comp and GL at the least. GL protects you from everything else, work comp only protects you from worker injuries.
Be careful on homedepot guys, they are wreckless, only asks for cash/hr, doesnt know what employment are always lazy. If you choose to go with handyman service, be sure they have at least GL and WC, I have heard from some states that they allow these kind of license. Imagine they worked for you and they make a false claim, and you didnt do the paperwork, lawyers will go after all your assets that you built for decades.