Workers' Comp Insurance Cost Estimate Calculator

Select your general industry area, state and employee count band to get per employee workers' comp insurance cost estimates personalized to your small business. No personal information is required or collected when you use this tool and it is completely free. All estimates are for state mandated coverage plans and are based on the most common employee class codes specific to each individual industry we studied.

Select General Industry
Select State
Select Employee Count
Per Employee Rate Estimate—

How To Use MoneyGeek's Workers' Compensation Insurance Cost Calculator

Use our workers' comp cost calculator in three simple steps.

  1. 1

    Enter three simple business details

    All you need is three simple business details including your industry area, state and employee count. Once you enter it into MoneyGeek's workers' comp insurance cost calculator you'll get a tailored estimate with no personal information required and collected, all for free.

  2. 2

    Get quotes with our short questionairre

    You can click to get workers' comp insurance quotes and go through our questionnaire to get recommendations for workers' comp insurance coverage and other policies

  3. 3

    Compare workers' comp insurance providers

    Once you finish our questionnaire you'll get matched with top providers where you get pricing directly from insurers personalized to your business details.

How Are Workers' Comp Insurance Costs Calculated

At its core, workers' comp premium is calculated as: (Payroll ÷ 100) × Class Rate × Experience Modification Factor. Each element of this formula is examined during underwriting and contributes meaningfully to your final premium.

Not every business is subject to an experience modification factor immediately. The e-mod applies once a business meets its state's minimum premium threshold, typically between $5,000 and $10,000 in annual premium, depending on the state.

Below we go over these direct factors in detail and additional information that may affect your price outside of this formula.

Workers' Compensation Insurance Cost Calculator: Next Steps

The next step after getting cost estimates is to get actual workers' comp insurance quotes from providers. Before committing we also recommend looking into the right providers based on your profile rather than just cost by itself.

Below we've left guides for you to investigate providers further and compare:

If you want to verify what requirements are for you

If you want to understand coverage in more depth

About Connor Bolton

Connor Bolton headshot

Connor Bolton is Senior SEO and Content Manager at MoneyGeek, where he leads the business and pet insurance editorial teams. As editorial lead for both verticals, Connor sets the research framework, data standards, and content structure that his writers execute, directly authoring in-depth guides himself and reviewing all team content for accuracy and practical value before it goes live. With over four years evaluating insurance products across personal, commercial, and specialty lines, he brings cross-vertical knowledge to every guide the team produces.

Connor architected MoneyGeek's insurance research infrastructure across all major verticals including auto, home, renters, life, health, business, and pet, building systems for pricing analysis, provider-level research, customer experience evaluation, and coverage analysis with AI support. The infrastructure includes over 6 million data points for business insurance across 408 industry areas, all 50 states, and 16 vehicle types, and over 5 million pet insurance profiles across 18 major providers and hundreds of breed and age combinations. Connor's insurance cost research and his team's work has been cited by the U.S. Chamber of Commerce, Allstate, Liberty Mutual, CBS News, Forbes and LegalZoom.

Beyond the data, Connor stays connected to how the market actually operates, drawing on direct conversations with underwriters and carrier liaisons at Ethos, The Hartford, NEXT Insurance, Nationwide, and State Farm, and monitoring business and pet owner communities including Reddit, to inform how he interprets findings and frames guidance for real buyers.

He is the direct editorial contact for methodology questions at connor@moneygeek.com and can be found on LinkedIn.

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