Premium from payroll and class rate.
Estimate only. Real premiums depend on carrier, claims history and underwriting.
Workers' comp premium equals payroll divided by 100, times your class-code rate, times your experience modifier.
Workers’ compensation is calculated differently from other policies: a rate per $100 of payroll, multiplied by your class code (how dangerous the work is) and your experience modifier (your claims history versus peers). Clerical staff might be $0.30–$0.50 per $100; roofers can exceed $10. It’s mandatory in almost every state once you have employees.
The experience mod is the lever you control over time — fewer claims lowers it below 1.0 and cuts your premium; a bad claims record raises it. Estimate yours above using your class and payroll.
Payroll ÷ 100 × class rate × experience modifier.
In almost every state once you have employees.
A multiplier based on your claims history vs peers; below 1.0 saves money.
No — it's an estimate.