Workers Comp Premium Calculator
Calculate workers compensation premium from payroll and experience mod.
Inputs
$
$
%
Results
Annual Premium
$47,500.00
≈ 4 years of state college
Monthly Premium$3,958.33
Manual Premium$50,000.00
Modified Premium (before discount)$50,000.00
Premium Per Employee$1,583.33
Premium as % of Payroll2.38%
Savings if EMR Improved by 0.1$5,000.00
How to Use This Calculator
- Enter the annual payroll for the relevant class code.
- Input the NCCI class code rate per $100 of payroll (obtain from your insurer or state rating bureau).
- Set your experience modification rate (EMR) — find this on your current policy or mod worksheet.
- Enter any safety program discount percentage.
- Review the estimated annual workers' comp premium and cost per employee.
How the result changes with Annual Payroll
| Annual Payroll | Annual Premium |
|---|---|
| $100,000,000.00 | $2,375,000.00 |
| $350,000,000.00 | $8,312,500.00 |
| $650,000,000.00 | $15,437,500.00 |
| $900,000,000.00 | $21,375,000.00 |
What each input means
- Annual Payroll
- Total annual payroll for the class code.
- Class Code Rate (per $100)
- Workers comp rate per $100 of payroll for your class code.
- Experience Mod Rate (EMR)
- Experience modification rate (1.0 = average, <1.0 = better than avg).
- Safety Program Discount
- Discount for safety programs, certifications.
- Number of Employees
- Total number of employees in this class code.
How this is calculated
Worked example, using the default values
- Identify Input Parameters4 parametersAnnual Payroll = 2000000, Class Code Rate (per $100) = 2.5, Experience Mod Rate (EMR) = 1, Safety Program Discount = 5 = 5 input(s) provided
- Calculate Annual PremiumAnnual Premium47500 = $47,500
- Calculate Monthly PremiumMonthly Premium3958.33 = $3,958.33
- Calculate Manual PremiumManual Premium50000 = $50,000
Engine last updated . Checked against 3 independently-derived tests — how we verify calculators.
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