Calculators
Workers’ Compensation Premium Calculator
Estimate workers' compensation insurance premium from payroll by class code, rates per $100, experience modification and credits.
- Runs in your browser
- Nothing uploaded
The tool
Enter your numbers below. Results update as you type, and nothing leaves your browser.
Everything you enter stays on your own machine. Nothing is sent to us or to anyone else, which you can confirm in your browser network tab.
What people use it for
- Budgeting insurance costs
- Checking an insurance quote
- Pricing labour-heavy work
- Understanding the effect of the experience mod
About this tool
What the Workers’ Compensation Premium Calculator does
Workers’ compensation premiums are calculated per class code: payroll divided by 100, times the rate for that class. The total is multiplied by the experience modification factor, which reflects your claims history, then adjusted for schedule credits or debits and fixed charges.
It also works as a workers comp premium calculator.
Formula
- Manual premium = Σ payroll ÷ 100 × class rate
- Modified premium = manual × experience mod
- Premium = modified × (1 + schedule adjustment) + fixed charges
Worked example
Using the starting values in the calculator above:
| Input | Value |
|---|---|
| Payroll by class | 3 entries |
| Experience modification factor | 0.95 |
| Schedule credit (−) or debit (+) | -5% |
| Expense constant and fees | $250 |
| Result | Value |
|---|---|
| Estimated annual premium | $47,030 |
| Manual premium | $51,834 |
| After experience mod | $49,242 |
| Effective rate per $100 of payroll | 3.76 |
How to read the result
Correct class coding matters: payroll in the wrong class code can cost far more than necessary.
Safety programmes and prompt return-to-work reduce claims, which lowers your experience mod over the following years.
Related calculators
- Office Space per Employee Calculator: Estimate office space and desks needed for a team, allowing for hybrid attendance and shared space, and the annual rent.
- Remote Work Cost Savings Calculator: Estimate employer savings from reduced office space and employee savings in commuting cost and time from remote or hybrid work.
- Training ROI Calculator: Calculate the return on a training programme from its costs, participants, annual benefit per participant and attribution.
- Job Offer Comparison Calculator: Compare two job offers on salary, bonus, retirement match, health costs, equity, paid leave and commute time.
Browse every calculator in HR and Payroll Calculators, or talk to us about HR and payroll workflow automation.
More tools and services
- 1031 Exchange Calculator
- 401(k) Contribution Optimizer
- 529 College Savings Calculator
- A/B Test Significance Calculator
- Accessible Ramp Calculator
- Accounts Payable Aging Calculator
If you would rather someone did this properly for you, we offer Web Design Services and Website Development, SEO Services: Search Engine Optimization, AI Automation Agency.
Questions
Questions about this tool
The things clients actually want to know — costs, timelines, ownership and what happens after launch.
Payroll per class code divided by 100, times the class rate, adjusted by the experience mod and credits.
A factor comparing your claims with similar businesses; below 1.0 lowers premium, above 1.0 raises it.
Rates reflect injury risk for each class of work.
Free strategy session
Let’s build something worth finding.
Tell us where you want the business to be in twelve months. We will come back with a costed plan, a realistic timeline, and the numbers we expect to move — no obligation, no jargon.
- 30-minute call, no pitch deck
- Fixed-price proposal in 48 hours
- You own everything we build
Talk to a developer
Not a sales team
- Response time
- Within 1 business hour
- Where we work
- UK, USA & the Gulf
- Contracts
- No lock-in, monthly rolling
- Working since
- 2023