Workers Comp Coverage..... Who sells the cheapest policy??

[Brian Tennies]

Hello!

Thanks for looking....

I'm a fix and rent general contractor looking to take my business to the next level and hire a few full-time employees. 

The subject of this post pretty much sums it up. ;)

Anyone have a good lead on the most reasonable priced workers comp coverage?

Thanks again!

[Derek Lacy]

No one can give you a range. Work comp is based on payroll. You will more easily understand it if you think of it as mainly a withholding.

Like in IN a carpenter pays about 8%.
A roofer about 11%.
A sales person about 0.6%.

This is subject to minimums, some fixed costs (about $150 to $500 depending on the state), and after time you will earn an experience modification which will cause your premium to go up or down depending on your safety record.

Last, don't use IN rates as an absolute guide. IN is the second lowest cost in the union.

So tell me how much in payroll and what state and I can get you a general idea.