Real workers' comp policies we placed
A remodeling contractor we insure pays $2,565 a year for workers' comp.
A construction company we insure pays $3,562 a year for workers' comp.
Outside construction, for contrast, a small restaurant we insure pays $572 a year for workers' comp.
These are real policies; yours depends on payroll, class codes and claims. They are not averages or ranges, and we can't promise a price until we see your details.
Why your price will be different
The biggest input is payroll. More payroll means more premium, and the type of work behind that payroll sets the rate. A crew that works on roofs is rated differently from a crew that paints interiors.
Your state matters because each state sets its own rules and rates. Your experience modification and claims history can move the price up or down. Uninsured subcontractors can add to your payroll at audit.
- Payroll by type of work.
- Class codes for each kind of work.
- State where the work happens.
- Experience modification and claims.
- Subcontractors with and without their own workers' comp.
Your estimate and the audit
The premium at the start of the policy is based on the payroll you estimate. After the term, the carrier usually audits your actual payroll and what you paid subcontractors.
If your payroll was higher than estimated, or an uninsured sub's pay is counted, you may owe more. If it was lower, you may get money back. An honest estimate split by type of work avoids surprises.
- Keep payroll records by type of work.
- Keep every sub's certificate with its policy dates.
- Tell us when your work or payroll changes during the year.
What to send for a quote
Send the items below and we will shop your workers' comp. If a quote looks low, check the payroll and class codes it used, because a quote built on the wrong payroll can change at audit.
- Annual payroll, split by the type of work each person does.
- Number of full-time and part-time employees.
- Years in business.
- Claims in the past few years, or a note that there were none.
- Whether your subcontractors carry their own workers' comp.
Your startup action list
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Use this guide for planning. Confirm requirements and current fees with the agencies serving your address. Coverage depends on the policy and insurer; this guide does not confirm that a particular operation is eligible.