Workers' Comp Calculator

Yes. Pick the state and enter each class code's payroll and rate: the workers compensation calculator applies the experience mod, credits and fees and gives the yearly premium, with the state's coverage rule beside it.

It depends on the work your people do, your state and your claims. The premium is your payroll in each class code ÷ 100 × that class's rate, adjusted by your experience mod and fees. Office work is priced far below roofing or trucking. This workers' compensation insurance cost calculator does that math for each class code.

The payroll for each classification is divided by 100 and multiplied by its rate. The experience mod and any schedule credit or debit adjust that manual premium; assessments, an expense constant and a minimum premium complete the bill.

A code for the type of work, such as clerical office work, with its own rate per $100 of payroll. Your insurer assigns codes from what each employee does; they are on your quote and policy.

A factor that compares your claims with similar employers: 1.00 is average, below 1.00 lowers the premium, above raises it. Only employers that qualify by size get one.

Most states require it from the first employee; some start at 3, 4 or 5. Texas lets most private employers opt out, but they must tell employees. Pick your state above, or see the table below.

A share of the employee's average weekly wage set by state law, between a weekly minimum and maximum. The insurer pays it, not the employer; your state's workers' comp guide has the details.

The premium is billed on estimated payroll and settled on actual payroll at the year-end audit. If payroll went up, or work moved into a higher-rated class, you owe the difference; if it went down, you get money back.

Generally no. Washington is the exception: up to half of the medical aid, Stay at Work and supplemental pension parts may be deducted from workers, within the rate on the employer's notice.