Contractor Insurance Cost Calculator
Estimate your annual contractor insurance premiums based on trade type, revenue, payroll, and coverage needs.
Formulas Used
General Liability:
GL Premium = (Annual Revenue ÷ 1,000) × Trade Rate × Limit Multiplier
Trade rates range from $5.80 (landscaping) to $14.50 (roofing) per $1,000 revenue.
Limit multipliers: $1M/2M = 1.00×, $2M/4M = 1.25×, $5M/10M = 1.65×. Minimum: $750.
Workers' Compensation:
WC Premium = (Annual Payroll ÷ 100) × NCCI Class Rate × State Multiplier
Class rates range from $5.00 (HVAC) to $18.00 (roofing) per $100 payroll.
State multipliers: Low = 0.80×, Mid = 1.00×, High = 1.45×. Minimum: $500.
Tools & Equipment (Inland Marine):
Tools Premium = Insured Value × Trade Rate (1.8% – 3.0%). Minimum: $200.
Claims Surcharge:
Applied to GL + WC: 0 claims = 0%, 1 = 10%, 2 = 20%, 3+ = 35%.
Total: GL + WC + Tools + Claims Surcharge