Real-world workers compensation prices from BuyerZone buyers

We regularly survey BuyerZone users to ask how their purchases went. We've used their responses to provide a sampling of actual rates businesses paid for their workers compensation insurance.

Rates are typically presented as a percentage of your total payroll, usually expressed as a dollar amount or fixed percentage for every $100 of employee salary. Actual policy costs are state-specific – every state has a workers’ comp board that determines how much businesses pay in premiums and claims. Rates are set according to risk classification, the state you operate from, and prior safety record.

By far, risk is the biggest cost determinant. For example, covering a cashier will cost considerably less than protecting a construction worker who works with heavy equipment and could be subjected to more frequent accidents.

• Premiums represented by dollar amounts
• Premiums represented by percentages

Premiums represented by dollar amounts

"$807 for a $1 million policy of workers compensation."
- Office manager, Jacksonville, Florida

"$409 initial payment – $91 monthly payments."
- Dentist, San Francisco, California

"$800 with no additional benefits. Different work code selection constituted higher price than all-spectrum quote."
- Consultant, San Francisco, California

"Approximately $1,007 for minimum coverage. What was the deciding factor was I did not want to pay the premium in full up front and I was able to get on a payment plan."
- Shop owner, Danbury, Connecticut

"$517 total policy premium for workers compensation and employers’ liability insurance policy."
- Administrative assistant, Campbell, California

"Insurance requested: $750. Additional policy cross sold: $375. Potential additional business: $2,500."
- Realtor, Three Oaks, Michigan

"$531 annually. Arranged through payroll company who will pay the premium automatically based on actual payroll and take care of all paperwork for me."
- Partner, San Francisco, California

Premiums represented by percentages

"24 cents on the dollar (24%); $1,400 a year minimum."
- Business service provider, Lafayette, Louisiana

"$1,520 for $100,000 payroll in the state on Indiana (1.52%). Only one other company came in with a quote which was $100 higher."
- Retail owner, Muncie, Indiana

"$652 for Workers Comp on a payroll based on $13,500/year. (4.83%)"
- Insurer, San Marcos, California

"$11,325 = estimated annual premium. Code 8800; 4.53% of $250,000 annual payroll."
- CFO, Upland, California

"$1,300 - $1 million coverage based on $20,000 payroll for a year. (6.5%)"
- CEO, Garden Grove, California

"$2.37 per $100 of payroll (based on state rate). (2.37%)"
- Purchasing manager, Durant, Oklahoma

"$318 per year for approximately $30,000 in payroll for an education-related company. (1.06%)"
- Educator, Warren, New Jersey

"$11.24 per $100 of payroll for my veterinarian and pet grooming business. (11.24%)"
- Pet shop partner, Arroyo Grande, California

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Want more information on workers comp prices and how to choose a provider? Read our Workers Compensation Buyer’s Guide.

Information was provided by BuyerZone users. Quotes have been edited for clarity only.